Montgomeryville
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Penn Medicine’s Montgomeryville Center Part of Regional Plan
Penn Medicine is bringing world-class cancer care closer to Montgomery County residents, writes Harold Brubaker for the Philadelphia Inquirer. The health system is adding a new $270 million outpatient center now under construction in Montgomeryville. The facility will include advanced radiation oncology and an infusion center. This is all part of the University of Pennsylvania…
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Montgomery Mall Sells for $55 Million
Kohan Retail Investment Group, a New York-based shopping mall investment company, has bought Montgomery Mall in a foreclosure sale for $55 million, writes Natalie Kostelni for the Philadelphia Business Journal. The sale price represents 95 percent of the mall’s appraised $57.5 million value as of August. Seven years ago, the property was appraised at $195…
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Due to Foreclosure, Simon Property Group Loses a Mall in Montgomery County
In another sign of the financial woes plaguing shopping malls, the Montgomery Mall was foreclosed on earlier this month. The owners were Simon Property Group, the biggest mall owner in the country, evidencing how none are impervious to such troubles. The news officially came on July 12, when a judge made a decision for $118.78…
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With 25% of U.S. Malls Expected to Close Within Five Years, How Will Chester County’s Shopping Meccas Adapt?
Everyone is well aware that the circumstances of the last year have caused shopping malls to struggle, but analysts now have data to ascertain just how much damage has been done. Likely to the surprise of few, some of the predictions are bleak. Shawn Baldwin of CNBC discusses this, explaining how data from Coresight Research…
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Nappen & Associates Welcomes its Newest Additions to its Team
Nappen & Associates, a leading industrial real estate developer and property manager located in Montgomeryville, is proud to introduce its newest team members. Tracy Flissar joins Nappen & Associates as Vice President of Leasing and brings extensive experience and insight in the industrial real estate market. Prior to joining Nappen & Associates, Tracy worked at…
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Wall Street Journal: King of Prussia Mall Owner Inks $2.8 Billion Merger with Taubman
In a retail climate where many are having trouble even collecting rent, Simon Property Group, owner of both the King of Prussia Mall and Montgomery Mall, as well as the Philadelphia Premium Outlets in Limerick, remains an outlier as it continues to expand. Luxury mall developers Taubman Centers Inc. was already in the midst of…
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