Montgomery Mall makeover will add stores and update interior
2/28/2014 | Real Estate Blog
Shopping malls in the Philadelphia area are fighting back, it seems, even after a rough holiday season and a grim forecasts for retail (see our Jan. 26 post). It is understandable, after the winter we’ve had. Internet shopping is a little less appealing to those of us with cabin fever, but snow, rain, ice and wind have kept us inside. What better escape than an enclosed mall?
The weather could be a factor, but plans have been in the works for a while for Montgomery Mall in North Wales. Simon Property Group, the company also responsible for King of Prussia Mall, announced recently that the Montgomery Mall will get a makeover. Work should start in March.
The plan actually kicked off last fall with the addition of a Wegman’s to the mall. Simon’s plan focuses on the space between Wegman’s and north wing anchor store Macy’s.
Inside the mall, Simon will add a children’s play area and spruce up existing retail space. New lighting and hardscaping are planned, as are new family restrooms.
The north wing entrance is also slated for a renovation. And, in keeping with other malls around the country, a new restaurant will face the exterior of the mall in order to offer diners a chance to relax outdoors on its patio.
Simon has said that new retailers will be coming in, though no names have been mentioned. More details will be available, according to mall personnel, after the paperwork is complete and leases are in place. What the mall did confirm was that some new tenants will open in time for the 2014 holiday season, while others will wait until 2015.
After construction starts, shoppers should check the directory before heading to their favorite haunts. Existing stores will be relocated during the renovation.
Industry insiders are not surprised by the timing of the project. Simon’s chief rival in retail, Pennsylvania Real Estate Investment Trust, has renovated four of its malls in the region.
Simon did not address any plans for the other anchor stores or other parts of the mall.
Source: Philadelphia Business Journal, “Simon says it will upgrade an area mall,” Peter Van Allen, Feb. 26, 2014