On behalf of client Kin Properties, the Colliers Retail team of Todd Sussman and Jon Kieserman, has recently sold the former Macy’s at the Neshaminy Mall, a 211,000-square-foot “dark anchor with a bright plan for the future.”
The Colliers team has subsequently been named exclusive leasing agents for the project.
Macy’s opened at Neshaminy Mall in 1968 (then Strawbridge’s) and closed amidst 100 shutterings nationwide for the retailer that began in 2017. In a unique arrangement, the anchor and mall ownership have been separate. Brookfield purchased the entirety of the mall, independent of Macy’s, in 2018.
“The new owner (of the former Macy’s property) has reconceived the vacant box as a mix of large floor plate opportunities, new exterior facing small retail and/or restaurant tenants along with several new outparcels offering the potential to court statement restaurant operators to the mall complex.
“Flexible zoning allows for multiple uses that would encourage fitness, entertainment, office and more with Colliers marketing the building and pad sites either for purchase, ground lease or build to suit.”
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