Plymouth Meeting Mall To Be Sold, Transformed Into Town Center: Report

PLYMOUTH MEETING, PA — Owners of the Plymouth Meeting Mall have reached an agreement to sell most of the property to a buyer who plans to transform it into a "town center," according to a news report Thursday afternoon.

The Philadelphia Business Journal said that the "mixed use" future of the property would include both some businesses and residential development.

Lubert Adler Partners plans to finalize the purchase with the current owners, Preit, in Jan. 2026, the report states.

The price paid by the real estate investment group was not disclosed, but they reportedly plan to spend $100 million on the redevelopment of the property.

Plymouth Meeting will now join Exton Mall as the latest long-standing shopping mall to be transformed into a similar style, mixed use town center. Preit has faced numerous rounds of bankruptcy and refinancing in recent years as it attempted to keep viable mall in operation. That restructuring came with the loss of many of the stores that had filled the mall in the 1990s and early 2000s, replaced by a focus on a handful of major chains and experience-based retail.

While detailed plans for how the transformation of the property will proceed have not yet been determined, the report did add that the mall's anchoring tenants, including Boscov’s, Dick’s Sporting Goods, Dave and Buster’s and Burlington, will all stay.

This is a breaking story. More information will be provided as it becomes available.