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WOODLAWN, MD-The JC Penney building at Baltimore County’s Security Square Mall is set to be sold to Baltimore, MD-based MIE Properties Inc. for a reported $2.2 million. The 177,000-sf structure sits on a 12-acre plot and has been vacant since owner JC Penney closed its outlet store there in August of last year.

The 30-year-old mall sits off the Baltimore Beltway at 6901 Security Boulevard and offers a little over 1 million sf of retail space. JC Penney was one of the property’s six anchors, which include Sears, Hecht’s Burlington Coat Factory, and AMC Theatres.

The mall carries the distinction of having near capacity small-store tenancy, with 96% occupancy. JC Penney Properties Inc. acquired the two-story structure from Security Square Associates LLC in 1973 for about $780,000. MIE has not decided what it will do with the building, but the company is reportedly looking to fill it with another retailer although other options are being considered as well.

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