The new owners of Neshaminy Mall intend to demolish approximately half of the property and initiate a redevelopment project that integrates various uses complementary to the existing retail. Paramount Realty and Edgewood Properties, in a joint venture announced Monday, acquired the half-vacant Bucks County mall for $27.5 million from Brookfield Properties, according to industry sources. Paramount and Edgewood are exploring redevelopment options while intending to retain key anchors like Boscov’s, AMC movie theater, Barnes & Noble bookstore, Uno Chicago Grill, and On The Border Mexican Grill. Maurice Zekaria, Principal at Paramount Realty, noted that the remaining 20% occupied retail space would be demolished as part of the plans.

*Article courtesy of Philadelphia Business Journal

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