The owner of Towson Circle, anchored by Trader Joe’s, Pier 1 and Barnes & Noble, said Wednesday it plans to buy the new movie theater and restaurant development next door for $40.5 million, redeveloping its current holdings to join the two properties.

Retail Properties of America Inc., a large Illinois-based real estate investment trust focused on shopping malls, said earlier this year it wanted to redevelop Towson Circle, adding apartments and a hotel. The purchase of adjacent Towson Square is designed to allow the firm to integrate the two properties into one development, the firm said in the release of its third quarter earnings.

(Full article has been deleted from Baltimore Sun website): Towson Square to be sold for $40.5 million – Baltimore Sun