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707 Neshaminy MallBensalem, PA 19020
Neshaminy Mall
Asset ClassRetail
Exceptional Super-Regional Mall Opportunity Located in Bensalem, PA.
overview of deal

Overview

Neshaminy Mall (the “Property” or “Mall”) is a one level (anchors have 2-3 floors), super-regional mall located at 707 Neshaminy Mall, Bensalem, PA 19020. The Mall is situated on approximately 108.6 acres, 91.4 of which are owned. The total GLA at the Property is 1,049,922 SF, which includes Boscov’s (215,586 SF, owned), AMC (90,997 SF, owned), a former Sears (200,445 SF, owned), and a vacant anchor box (218,150 SF, non-owned). The Property also features two ground leased outparcels, On The Border Mexican Grill (6,500 SF, owned) and Uno Chicago Grill (7,000 SF, owned). The former Sears parcel also includes a vacant auto center outparcel.

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Investment Highlights

IRREPLACEABLE LOCATION WITHIN DENSELY POPULATED, INNER RING SUBURB WITHIN PHILADELPHIA MSA WITH PROXIMITY TO SIGNIFICANT ECONOMIC DEMAND DRIVERS

  • The Route 1 Corridor in Bensalem is the go-to destination for national retailers.

SUPERREGIONAL TRADE RADIUS SUPPORTED BY EXCELLENT TRANSPORTATION INFRASTRUCTURE IN A HIGHLY DESIRABLE TRADE AREA

  • Neshaminy Mall enjoys unparalleled positioning within the Lower Bucks County submarket at the confluence of Route 1 / Lincoln Hwy (±83,865 VPD) and I-276 / PA Turnpike (±90,000 VPD) with excellent transportation infrastructure driving consumers from the extended trade radius.

OPPORTUNITY TO REPOSITION ~91 ACRES OF LAND INTO A CONTEMPORARY, MIXEDUSE DEVELOPMENT

  • Ownership currently controls approximately 91 acres, presenting meaningful opportunities for a large scale redevelopment of the site. The Property’s prominent location and excellent positioning within Lower Bucks County presents a unique opportunity to re-imagine the site’s programming mix by incorporating multifamily and re-imagining the retail merchandising mix with an open air retail development with contemporary retail uses, i.e. grocery, F&B, service-oriented, fitness, etc.

HIGH PERFORMING BOSCOV’S AND OUTPARCELS

  • Boscov’s drives just under a million annual visits, ranking as the 4th most visited Boscov’s in the chain according to Placer.ai. In addition, Uno Chicago Grill and On The Border Mexican Grill have annual visit counts of over 240k and 290k, respectively, both ranking as the fifth most visited in their respective chains according to Placer.ai.

ATTRACTIVE BASIS FOR REDEVELOPMENT

  • An investor’s ability to implement a successful redevelopment / repositioning strategy will be greatly enhanced by a significantly lower basis.

OFFERING PROCESS

  • This offering presents prospective purchasers with the opportunity to acquire a strategically positioned super regional shopping center with significant upside potential. As exclusive agent, JLL is presenting Neshaminy Mall to select investors registered via a confidentiality agreement. The Property is being offered on an “as-is” basis and the marketing process will be governed by a date certain bid process.
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707 Neshaminy MallBensalem, PA 19020

The Team

David MonahanSenior Managing Director 917 414 4446 david.monahan@jll.com
Cameron Pittman Senior Director917 202 9064cameron.pittman@jll.com
Emerson Pierce Associate 704 996 1976emerson.pierce@jll.com
Jim GalballySenior Managing Director215 285 2911james.galbally@jll.com
Chad Orcutt Senior Managing Director610 909 6484chad.orcutt@jll.com
Michael Pagniucci Senior Director484 532 4172 michael.pagniucci@jll.com

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Listing provided by Revere CRE