Montgomery Mall (Pennsylvania)

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Montgomery Mall
Montgomery Mall Pennsylvania first floor entrance near Sears.jpg
First floor entrance near former Sears, 2017
Montgomery Mall (Pennsylvania)
Location Montgomery Township, Pennsylvania, U.S.
Coordinates 40°14′06″N75°14′41″W / 40.2351°N 75.2448°W / 40.2351; -75.2448
Address230 Montgomery Mall
North Wales, PA 19454
Opening date1977 (1977)
DeveloperThe Kravco Company [1]
Owner Kohan Retail Investment Group [2]
No. of stores and services90+ [3]
No. of anchor tenants 5 (4 open, 1 vacant)
Total retail floor area 1,102,755 square feet (102,449 m2) [4]
No. of floors2 (1 in Dick's Sporting Goods and Wegmans)
Parking Parking lot
Public transit accessAiga bus trans.svg SEPTA.svg SEPTA bus: 94, 96, 132
Website www.shopmontgomerymall.com

Montgomery Mall is a two-story shopping mall located in the community of Montgomeryville in Montgomery Township, Pennsylvania near the borough of North Wales. The mall, owned by Kohan Retail Investment Group, is located along Pennsylvania Route 309 (Bethlehem Pike) at the intersection with U.S. Route 202 Business (Dekalb Pike), amidst other commercial development. It contains over 90 stores and eateries and is anchored by Dick's Sporting Goods, JCPenney, Macy's, and Wegmans. [3]

Contents

History

First floor, looking near former Sears Montgomery Mall PA first floor near Sears.jpeg
First floor, looking near former Sears

The Montgomery Mall was built in 1977 by The Kravco Company. [1] [5] In 1986, Bamberger's became Macy's. [6] In 1995, the Wanamaker's store became Hecht's. Hecht's became Strawbridge's in 1997 after its parent company, May Department Stores, acquired the Strawbridge's chain. [7] Simon Property Group acquired the Montgomery Mall in 2003. [5]

Strawbridge's closed in 2006 as a result of Federated Department Stores acquiring May Department Stores, with Boscov's taking over the former store in 2007. The Boscov's store closed in October 2008 as part of their restructuring. [7] Dick's Sporting Goods was also added in 2008. [8] In November 2011, it was announced that a 126,000 sq ft (11,700 m2) Wegmans would replace the vacant Boscov's. [9] [10] This store was planned to be the first Wegmans located in a shopping mall. [10] The former Boscov's store was demolished in the process of constructing the new Wegmans. [5] The Wegmans store opened on November 3, 2013. [11]

The Montgomery Mall has recently gone under reconstruction. This renovation had a cost of $8 million and the main purpose was to redesign exterior and entrance, restrooms and upgrade lighting. [12]

On November 7, 2019, it was announced that the Sears store at Montgomery Mall would close as part of a plan to close 96 stores nationwide. Liquidation sales began on December 2, 2019. [13] The store closed in February 2020. On May 3, 2021, during the COVID-19 pandemic, Montgomery County opened a COVID-19 vaccination site in the former Sears space. [14]

In June 2021, the Montgomery Mall was foreclosed upon by Wilmington Trust, trustee for Wells Fargo Commercial Mortgage. The mall was placed into receivership by June 22, with JLL taking over management of the mall, and a $118.78 million judgment was issued against Simon Property Group affiliate Mall at Montgomery, LP by July 12. [15] In order to satisfy the loan, the mall was sold to Kohan Retail Investment Group on November 20, 2021 for $55 million. [2] In 2022, Kohan Retail Investment Group sold the Wegmans site at the mall to ExchangeRight for $22.6 million. [16]

In recent years, the Montgomery Mall has seen a decrease in foot traffic and an increase in the vacancy rate. Kohan Retail Investment Group has released no plans regarding the future of the mall. [17]

Anchors

Current

JCPenney in Montgomery Mall (2022) Montgomery Mall PA JCPenney 02.jpg
JCPenney in Montgomery Mall (2022)

Former

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References

  1. 1 2 Demick, Barbara (May 18, 1989). "Kravco And 6 Of Its Malls Sold To A Canadian Developer". The Philadelphia Inquirer . Retrieved November 30, 2011.
  2. 1 2 Kostelini, Natalie (November 20, 2021). "Montgomery Mall sells for $55M in a foreclosure sale". Philadelphia Business Journal . Retrieved November 20, 2021.
  3. 1 2 "Home". Montgomery Mall. Retrieved July 14, 2021.
  4. ↑ "Montgomery Mall Fact Sheet" (PDF). Simon Property Group . Retrieved January 19, 2017.
  5. 1 2 3 Panaritis, Maria (November 17, 2011). "Wegmans signs lease at Montgomery Mall". The Philadelphia Inquirer . Retrieved November 29, 2011.
  6. ↑ "COMPANY NEWS; Bamberger's Shift". The New York Times . September 4, 1986. Retrieved November 29, 2011.
  7. 1 2 Di Domizio, Tony (November 30, 2008). "Where have all the eagles gone?". The Reporter . Journal Register Company . Retrieved November 29, 2011.
  8. ↑ "Eatery, store win approval". PhillyBurbs.com. February 13, 2007. Retrieved 17 August 2012.
  9. 1 2 Van Allen, Peter (November 16, 2011). "Simon Property to welcome Wegmans at Phila.-area mall". Philadelphia Business Journal . Retrieved November 29, 2011.
  10. 1 2 DeBree, Crissa Shoemaker (November 17, 2011). "Wegmans' Montgomeryville store the chain's first at a mall". The Intelligencer . Archived from the original on November 19, 2011. Retrieved November 29, 2011.
  11. 1 2 Connor, Jennifer (November 3, 2013). "Montgomery Mall's Wegmans store opens big". The Reporter . Journal Register Company . Retrieved November 5, 2013.
  12. ↑ Montgomery Mall North Wales, Pennsylvania, Outlet Stores Malls. Retrieved: 1 March 2015
  13. ↑ Ciment, Shoshy (November 7, 2019). "Sears is closing 96 more stores, leaving only 182 stores left in the US. Here's the full list of the ones closing". Business Insider. Retrieved November 7, 2019.
  14. ↑ Cooper, Kenny (April 28, 2021). "Pa. coronavirus update: Montco cases on the decline, vaccine clinic locations shuffle". Philadelphia, PA: WHYY. Retrieved May 3, 2021.
  15. ↑ Kostelini, Natalie (July 21, 2021). "Montgomery Mall Foreclosed Upon, $118M Judgment Issued". Philadelphia, PA: WCAU-TV. Philadelphia Business Journal. Retrieved July 21, 2021.
  16. ↑ Sharrow, Ryan; Kostelini, Natalie (September 2, 2022). "Former Wegmans Site at Montgomery Mall Sells for $22.6M". Philadelphia, PA: WCAU-TV. Philadelphia Business Journal. Retrieved September 2, 2022.
  17. ↑ McGinnis, James (November 24, 2022). "Montgomery Mall retailers, shoppers await word on future under new Kohan ownership". Bucks County Courier Times. Retrieved November 28, 2022.
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