A company from New York has been retained by Granite Run Mall ownership to solicit qualified investors to acquire the 57 acre property free and clear. That means this whole complex will be sold together in one lump sum. That's interesting news as it was thought for some time that this property was mired with multiple owners, therefore requiring complicating agreements. With this not being the case, a new owner has a lot more flexibility over the repositioning strategy of the property. National retailers, box stores, offices, medical or multifamily homes all could be considerations. Hannum's, Riddle Ale House, McDonalds and the bank next to the Ale House would not be included in the sale.The mall was built in 1974 and renovated in 1993. It is classified as a Super Regional Mall. Lease-able square footage of the mall and surrounding properties (Kohls, Acme, Sears Auto, AMC Theatre) comes in at just over 1,000,000 sqf. There are 135 individual suites that make up a little less than 300,000 sqf. Based on general sales data, the anchor stores (Sears, JCP, Boscovs) do anywhere from $10 to $25 million in annual sales. The Acme is thought to be a big selling point for the property due to it's consistent sales and popularity.
For a complete overview of the sale and details of the property, here is a video of the listing.
please! bring something higher end...whole foods, wegmans, nordstroms...why must we go to KOP, Glenn Mills or Center City for everything?!?! We dont want that stuff in our boro, but that ugly mall location is a prime spot!
ReplyDeleteMiddletown is a township, not a borough
Deleteanonymous, you can always relocate to one of those places that have the high end stores. I love Sears, JCPenny, and Boscovs.
DeleteGreat site for a Super Wawa--maybe a 100 gas pumps.
ReplyDeleteGreat site for a Wegman's!! Super Wawa?? Target?? That mall is horrible, it would require major intervention to get that mall to be anything other than a major eye sore!
ReplyDeleteThat mall is so lame. The coolest thing about it is the all year round Rita's Water Ice. The golden age of the Granite Run Mall was contemporaneous with the movie Fast Times At Ridgemont High. Sooner or later they had to do something. Either drastically improve it or bulldoze it. They were supposed to do a major redevelopment with a giant Barnes & Noble fronting Baltimore Pike a few years back but that hype fell through. Regardless of what happens I think the dinosaur museum should relocate to Media. It would be a win/win deal: the museum would have a name-recognizable centralized location, and Media would gain another attraction.
ReplyDeleteWe were there a couple weeks ago and were surprised to find that Rita's isn't there anymore.
DeleteThe dinosaur museum isnt there anymore either. Some good restaurants and a Movie Tavern would be great!
ReplyDeleteTear it down and give the hippies of media their dreaded greenway!
ReplyDeleteThis was your big announcement. I haven't seen any other media outlet mention it. You are pretty lame except for your party lemmings who foam at your demand. Jefferson deserves this land.
ReplyDeleteJUST A THOUGHT ... since the downfall of the Mall ... in recent years was that NOBOBY goes to the MALL anymore ... Let's let the Hospital and Riddle Village have it for Health and CCRC Retirement Community ... perhaps a SUPER WAWA might WORK ... and a NEW MOVIE THEATER ... but keep out the Trash Stores that KILLED Granite Run Mall .... Just a THOUGHT
ReplyDeleteOKAY. Do you REALIZE that when you TYPE like this people EMPHASIZE the words in CAPS and it is really DISTRACTING?
DeleteConservatives like me want a nuclear power plant there. Cooling towers would look great and increase property values.
ReplyDeleteShowcase Comics is still the best comic books store in the area, but it's the only thing I'd keep. That and the guy who comes and dances for kids the first Saturday of every month.
ReplyDeletehave 2 keep modells.
ReplyDeleteI agree. It's a complete eye sore. I wish, like another said, that they would knock it down and build a Whole Foods or something along those lines.
ReplyDeleteIt would be nice if the mall was some how made better. All the nice stores left and then they put in those crappy dollar store and so forth. I think the mall is to the point of no return. I like to go to the Payless there for kids shoes and Modell's for the kids sporting equipment. But I don't think this Mall can come back to what it once was. A Wegman's or Whole foods would be nice. But, ultimately it would be nice to see the retailers that high tailed it out of there when Simon Prop. raised the rents and chased them out. There is definitely enough room there for a Super Wawa. I know Wawa is eager to get into the borough of Media, but let's face it there is no room for it in our town. So why not look west where there is more open space for these things? The mall is nothing but an eyesore now. If they tore down the property, it would be sad to see the anchor stores go, so why not tear it down, make it more like a town center and bring in the Super Wawa or Whole Foods or whatever.
ReplyDeleteI used to go there once in awhile but w all of the crime that takes place there,concord or kop for me.
ReplyDeleteGranite Run Mall is not in the borough of Media, It is in Middletown township. I just heard from a Delco Times Update that an investor group led by luxury (gag) home builder Bruce Toll is buying the property. Will be interesting, if not a little scary, to see what happens next.
ReplyDelete