Franklin Mills Mall Up For Sale

NORTHEAST PHILADELPHIA — With other malls in the Philadelphia region planning to reinvent themselves as town centers or places for luxury apartments, another mall might be heading in that redevelopment direction.

Jones Lang LaSalle Americas, Inc. has been retained as the exclusive advisor for the sale of Franklin Mills Mall, formerly known as Philadelphia Mills.

Like numerous malls in the region, the Franklin Mills Mall has suffered from retail vacancies and fewer shoppers. The Neshaminy Mall in Bensalem, the Oxford Valley Mall in Middletown Township, and the Plymouth Meeting Mall have suffered similar losses.

JLL considers the property as an "exceptionally located, single-level super regional shopping center" in Northeast Philadelphia that is located near Interstate 95 and Woodhaven Road near the Bucks County border.

The mall was built in 1988 and renovated in 2016, according to the listing agent. It has an occupancy rate of 68.2 percent and is 1.6 million square feet.

Of its 170.37 acres, 137.23 acres are owned, JLL said.

JLL did not list a sales price for the mall.

JLL said the mall features an anchor line-up that includes Walmart (non-owned, 179,868 SF), Sam’s Club (non-owned, 133,010 SF), Burlington (128,000 SF), Marshall’s (70,701 SF), Dave and Buster’s (60,268 SF), and two available box stores that are 100,200 square feet and 68,174 square feet.

JLL said the mall's location and highway access make it "a strong candidate for redevelopment" into a modern industrial facility.

This potential is further supported by its “CA-2” zoning classification, which includes allowances for wholesale, distribution, and storage uses. The designation could provide a basis for an investor to pursue the development of up to 1.4 million square feet of new warehouse space, JLL said.

Over the past few years, malls in the Philadelphia region have been sold with the intention of the properties being developed for other uses.

The Oxford Valley Mall is entering a second phase of construction for luxury apartments.

Atlee Square opened its first phase of apartments in August 2024 on space formerly occupied by Boscov's, which was demolished to make room for the apartment project.

Meanwhile, opposition is mounting over plans to transform the Plymouth Meeting Mall into a town center. A petition drive has been launched to stop the mall's demolition.

The future of the Neshaminy Mall in Bensalem Township is still up in the air.

The mall was sold last summer to Paramount Realty, which currently owns several other malls, including the neighboring Woodhaven Mall.

The entire property, excluding the former Macy’s, was included in the sale and is positioned as an "excellent redevelopment opportunity" featuring a high-performing Boscov’s, Barnes & Noble, and a 24-screen AMC Theatre in addition to On The Border and UNO Chicago Grill, which are located outside the mall, the mall's owner stated.