Neshaminy Mall Deal Done, New Owners Take Over

BENSALEM TOWNSHIP, PA —The Neshaminy Mall —a longtime Lower Bucks County shopping mecca —has now changed ownership.

Paramount Realty, which has retail ties in Bucks County and the Philadelphia region, has finalized its deal with Edgewater Properties and closed on the purchase of the 1 million-square-foot mall.

The Neshaminy Mall sits on a ~108.5 acre-site located on Route 1 (right off Exit 351 of the PA Turnpike).

The entire property, excluding the former Macy’s, was included in the sale and positions this Property 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 Neshaminy Mall acquisition comes 11 months after the Paramount / Edgewood acquisition of Brunswick Square Mall – a 754,299 square foot regional mall located on Route 18 in East Brunswick, N.J.

The company owns the Marketplace at Neshaminy and the Home Depot Plaza in Bensalem Township, Lincoln Plaza in Langhorne, the Levittown Retail Center, and the Woodhaven Mall across from Bristol Pike.

It also owns Noble Town Center in Jenkintown, Greenleaf at Cheltenham, and Dreshertown Plaza in Upper Dublin in Montgomery County.

Paramount Realty has offices in Lakewood, N.J., and Lancaster.

The mall lost a chuck of customers when anchor stores closed with Macy's in 2017 and Sears in 2018.

Neshaminy Mall was also the site for circuses, ice rinks, and carnivals.

Malls in Lower Bucks and the region are trying to find new ways to draw customers or reinvent their use.

The Oxford Valley Mall in Middletown Township tore down its Boscovs to make way for luxury apartments expected to open shortly.

In December, it was announced that the mall would be getting a state-of-the-art gym.

The founder and chief executive of Fusion Gyms wants to fill the space of the mall's shuttered Macy's department store. He's hoping to construct a state-of-the-art facility of 250,000 square feet inside and 100,000 square feet outside in hopes of giving the mall "a shot in the arm."