The remodeled mall is now for sale. Photo by Mike Diegel.

Ellsworth Place in downtown Silver Spring is for sale.

News of the offering was included in an email circulated by Newmark Grubb Knight Frank announcing the company had been “exclusively retained” to sell the property. A copy of the email was obtained by Source of the Spring.

Newmark Knight Grubb Frank is a global commercial real estate advisory firm with more than 400 offices on six continents. The Silver Spring property is being marketed by the company’s Boston-based Capital Markets Group.

Ellsworth Place, originally known as City Place, is currently owned by Petri Richardson Ventures. The company acquired ownership and management of the 350,000-square-foot mall in 2012 in a joint venture with Rockwood Capital.

Since then the company has undertaken an extensive remodeling and rebranding effort (reported to cost $75 million), adding major retailers such as Michael’s, Ross Dress for Less, Guitar Center, and T.J.Maxx to join long-time anchors Burlington Coat Factory and Marshall’s.

In addition, the company expanded the mall’s restaurant and entertainment attractions by adding Dave & Buster’s and Not Your Average Joe’s.

Mike Diegel

Co-Founder/Editor at Source of the Spring
Mike Diegel, a founding member of Source of the Spring, is a Silver Spring advocate who has been appointed by the county executive to several committees and task forces. He currently is a member of the Silver Spring Arts & Entertainment District Advisory Committee. His background is in journalism and he earned a bachelor of arts in communications from McDaniel College. He is self-employed as a communications consultant and is an active volunteer with Appalachian Great Pyrenees Rescue. He has lived for more than 20 years in Northwood/Four Corners with his wife Trish and multiple Great Pyrenees dogs. He is better known around Silver Spring as the Guy with the Big White Dogs.
Ellsworth Place is up for sale