Up for Grabs: Neshaminy Mall’s Search for a Buyer Reflects Wider Retail Real Estate Challenges
Bensalem’s Neshaminy Mall is up for sale due to an increase in vacancies, writes Jesse Bunch for The Philadelphia Inquirer.
Neshaminy is among the countless malls struggling in the nation to compete with the online shopping marketplace.
MSC’s Douglas Green, who represents a potential buyer, says that this compounded with consumers seeking more convenient shopping centers post-pandemic, and a decrease in foot traffic are all factors in Neshaminy Mall’s over fifty percent vacancy rate.
The owner, Brookfield Properties, has not yet found a buyer for the 1 million square foot property, which includes an AMC movie theater, 40 retail outlets, and two restaurants.
Some shopping malls have incorporated mixed-use redevelopment to stay in business. Late last year, Fusion Gyms announced that it would be operating a state-of-the-art fitness center out of the former Macy’s.
Read more about the future of Neshaminy Mall in The Philadelphia Inquirer.
Tour of Neshaminy Mall
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