The Lakeforest Mall Sears Was Sold To Investors In March

On the heels of the major changes coming to the Sears location at Montgomery Mall, Grow Gaithersburg (the official office of Gaithersburg economic development) has announced that Northwood investors recently purchased the Lakeforest Sears location for $4 million.
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Image courtesy of @GrowGaithersburg on Twitter

One of the biggest issues when it comes to redevelopment of the mall, or land that the mall is on, is that the anchor stores own the land they’re on. Could this be one of many dominos to fall?

Lakeforest Mall was recently added to Gaithersburg’s enterprise zone in an effort to attract new development by providing local property and and state income tax credits to any businesses that come to the area and create jobs.

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Image courtesy of @GrowGaithersburg on Twitter

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