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…. Read more »
Federal Realty Investment Trust continues to work on securing approvals for its plans to redevelop Bala Cynwyd Shopping Center into a more walkable, mixed-use community and is making progress to undertake a similar strategy at Willow Grove Shopping Center and Lawrence Park Shopping Center. Plans for adding residential components and more dining that expands outdoor… Read more »
MCB Real Estate has started work on a roughly $100 million redevelopment of what had been known for decades as the Drexeline Shopping Center in Drexel Hill. Renamed the Drexeline Town Center, MCB of Baltimore plans to transform the property at 5100 State Road from a dated — portions were built in the 1950s —… Read more »
Wawa is “still active in the city,” CEO Chris Gheysens said, despite some high-profile Philadelphia store closures during the pandemic that included the landmark location at Broad and Walnut streets and the outpost at 9th and South streets. “We have closed some stores and I think it’s a reflection of, in some cases, bad site location. Others [it’s] just the business,… Read more »
