The redevelopment of the Exton Square Mall by Abrams Realty & Development is among the growing number of projects reshaping Philadelphia’s suburbs, writes Paul Schwedelson for the Philadelphia Business Journal.
The 75-acre property was originally owned by PREIT, which sold a smaller section of it to Hanover, leading to the development of a 350-unit apartment building.
“Residential has become an incredible and important part of retail redevelopment,” said Joshua Schrier, PREIT’s chief investment officer.
Abrams Realty & Development bought the Exton Square Mall earlier this year for $34.25 million, sparking a major redevelopment. According to Peter Abrams, owner of the Elkins Park development firm, the deal was facilitated by an adjacent Whole Foods location because properties with a nearby grocery store usually generate ten to twenty percent higher apartment rents.
The company plans to make the Whole Foods store the prominent gateway to the property’s central main street.
“If that grocery store is walkable to the residential, or easy to get to from the residential, very convenient, it will absolutely create a premium for the apartment rents,” said Abrams.
Read more about the Exton Square Mall redevelopment and other projects in the area in the Philadelphia Business Journal.
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Editor’s Note: This post was originally published on VISTA.Today in September 2025.
