If you’ve visited the revitalized Annapolis Towne Centre in Parole, or the redone Hunt Valley Towne Centre, then you’re familiar with the work of Greenberg Gibbons Commercial Corporation (GGC, www.ggcommercial.com).
At a time when many commercial properties are struggling, The Owings Mills-based company, founded in 1968, is definitely on a roll. Its newest project, Waugh Chapel Towne Centre in Gambrills, 90% leased and developed during the recession, is inaugurating its first store in March. That’s when Target, one of its anchor stores, opens.
Like a number of other GGC projects, the Waugh Chapel Centre is incorporating a Wegmans grocery store. According to COO and newly named President Thomas Fitzpatrick, the company has developed more town centers with the highly desirable grocery chain than any other company in the country.
Fitzpatrick believes GGC has succeeded and increased its impact in the Washington area market by focusing on retail in primary markets, a change from its original involvement in secondary and tertiary areas. The new strategy, developed under CEO Brian Gibbons, who joined the company in 1999, helped it weather the current downturn and continue to expand.
GGC also keeps control over its projects. It’s involved in all aspects, from entitlement (zoning), to development, leasing, construction and management.
The key, according to Fitzpatrick, is: “Create a merchandising plan that fits the marketplace, customer and completion — and stick to it.” GGC currently has 24 employees and manages 12 properties.
The company is also working with the owners of Laurel Mall to redevelop that property. It recently acquired the shuttered Solo Cup factory in Owings Mills, now renamed Foundry Row, which it plans to redevelop starting in 2012. The roll continues. Wegmans has already signed on.
