On May 4th, MoreThanTheCurv.com reported, via an article in the Philadelphia Business Journal, that PREIT was exploring the sale of the Plymouth Meeting Mall.
On May 8th, Equity Retail Brokers listed a portion of the mall for sale on LoopNet.com. The area consists of 214,790 which was mainly the former home of Macy’s that was redeveloped between 2017 and 2019 and reopened with new tenants. MoreThanTheCurve.com has confirmed that the space listed for sale includes Dick’s Sporting Goods, Miller’s Ale House, Burlington, Idea Image, Edge Fitness, Real Fruit, and Michael’s.
This is not the only portion of the mall that is being advertised on LoopNet.com. As MoreThanTheCurve.com has previously reported, PREIT is offering, via Binswanger, up to 306,780 square feet of the interior of the mall for office/medical space under the name Interchange at Plymouth Meeting.
In other mall news, Plymouth Township’s Council held a hearing on May 8th (view video) for a conditional use application from Keystone Development + Investment that would involve converting a vacant office building adjacent to the mall into 150 apartments. As MoreThanTheCurve.com reported, the township’s planning agency declined on May 3rd to make a recommendation on the application. The hearing was continued to June.
The township’s planning agency also voted on May 3rd to not recommend a second application involving PREIT seeking a special exception from the township’s zoning board to allow the redevelopment of the long-vacant IKEA office building section of the property into 300 apartments. This has not appeared on a published agenda for the zoning hearing board at this time.
More to come.