A local investor purchased Marley Station, the 364,000-square-foot mall at Routes 2 and 100, at auction for $1.65 million Sept. 14, on the steps of the Circuit Court for Anne Arundel County, in Annapolis.
However, owner Marley Station Mall LLC (a subsidiary of Dallas-based developer G.L. “Buck” Harris), is in foreclosure and filed for bankruptcy just before the auction. The sale is now subject to bankruptcy court and could be nullified.
The Marley Station property holds two loans: One for $15.6 million and the other for $1.6 million. It is the second loan that was foreclosed on; therefore, if the sale is upheld, the investor must pay the remaining $15.6 million.
More information on the sale is forthcoming by later this month.