MIE Purchases JCPenney's Building

MIE Properties Inc. signed a contract to purchase the former JCPenney building at Security Square Mall in Woodlawn, MD. The building is a 2-story, 177,000-square-foot retail project on 12-acres of land. JCPenney closed its Security Square Mall location in August 2001 after converting the store into an outlet in April of 1999. "The project is situated on a prime piece of real estate in the western Baltimore County corridor, is in excellent condition, and features phenomenal visibility from two major highways," a spokesman for the company said. MIE Properties Inc. is currently trying to find an end-user. "While a complementary retail use would be our first choice for this location, we are also investigating the possibility of non-traditional or office space at the building," the spokesman added.