New York Firm Purchases Towson Commons

Garrison Investment Group, a firm based in New York, has acquired Towson Commons through a deal closed on June 28, the Baltimore Business Journal reports. 

The purchase comes after two recent major leases on the property.

Earlier this year, LA Fitness announced plans to construct a two-level, 52,700-square-foot facility that would take over the movie theater, which previously anchored the Towson Commons.

The Baltimore Business Journal reports that at approximately the same time the deal closed, General Dynamics Information Technology announced plans to renew its lease for a 146,000 square-foot space. 

Towson Commons was previously owned by Capmark Financial Inc., which purchased the property during a foreclosure sale in early 2011. 

The complex opened in downtown Towson in 1992 but has struggled to retain retailers.