Another suburban mall plans to overhaul retail and dining
options.
The Montgomery Mall in North Wales, Pa., will start on a
redevelopment plan next month, said owner Simon Property Group (NYSE: SPG),
which also controls the King of Prussia Mall.
The mall plans to add an exterior-facing restaurant with
patio area, a redesigned exterior and entrance, “refreshed” retail spaces, a
children’s play area, new family restrooms and upgraded lighting and
hardscaping.
New retailers are also promised. No specifics were offered
and the mall said it is finalizing lease commitments.
New stores are planned for the holiday shopping season and
into 2015. Construction will start next month and affected retailers will be
relocated.
Last fall, a 126,000-square-foot Wegmans opened in the mall,
and much of the renovation will focus on the north wing of the mall, near
Wegmans and Macy’s. The other anchors are JCPenney, Sears and Dick’s Sporting
Goods. There are 100 in-line retailers.
Aside from Wegmans, recent openings have included
Francesca’s, The Icing, Pinkberry, Montgomery Dental, Spencer’s Gifts, Street
Corner News, VisionWorks, and New York Thread.
The mall’s last major renovation was in 2008.
Simon Property Group’s biggest competitor in the area,
Pennsylvania Real Estate Investment Trust (NYSE: PEI), has done major
redevelopments of the Cherry Hill Mall, Voorhees Town Center (formerly the
Echelon Mall), the Moorestown Mall, all in South Jersey, as well as the
Plymouth Meeting Mall.
Source: Philadelphia
business Journal
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