Freeman sells mall it’s held since 1968

After nearly 50 years of ownership, the Carl M. Freeman Companies has sold the Cabin John Shopping Center and Mall in Potomac, Maryland, to Edens for $165 million.



Freeman parted with a property that it built in 1968 in order to amass capital for other projects, according to CEO Michelle Freeman, who assumed the helm of the company after her husband, Josh, perished in a helicopter crash.



The 214,204-sq.-ft. center is about two miles from the larger Westfield Montgomery Mall, but the sizeable property promises potential for Edens to expand.



"Part of what was so difficult about [selling] this asset for me as CEO was that my father-in-law built it and my husband took care of it. I needed to sell it to someone who was going to bring it to the next iteration of itself, and I think Edens will do that," Freeman told the Washington Business Journal.

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