The Franklin Mills Mall, a staple of Northeast Philadelphia's shopping scene for decades, has finally succumbed to years of decline and is now on the market. Once one of the region's premier destinations, the mall has seen better days. With an occupancy rate of just 68%, it's clear that its heyday has long passed.
The 170-acre site, which boasts over 1.6 million square feet of retail space, was once a hub of activity, attracting shoppers from all over. But with major tenants like AMC, Forever 21, and Sam Ash music store having vacated the premises in recent years, it's been left to pick up the pieces.
The Franklin Mills property was built as a nod to Benjamin Franklin's famous kite experiment, featuring an animatronic head of the statesman suspended from the ceiling. While its unique design may have once added to its charm, today it's more of a relic of a bygone era.
Currently, only three anchor stores remain – Dave & Buster's, Burlington, and Marshalls. The mall's directory still lists 94 businesses, but most storefronts lie vacant and draw minimal foot traffic. It's clear that the Franklin Mills Mall is no longer the shopping destination it once was.
Despite its current struggles, the property has been appraised at $76 million, a significant drop from its 2012 valuation of $201 million. The mall's loan matured last year with a remaining balance of $244 million, and it will be marketed as potential industrial redevelopment site.
As the retail landscape continues to evolve in the region, several other malls are going through similar transformations. The Neshaminy Mall in Bucks County was recently put on the market and purchased within four months, while the Exton Square Mall is currently embroiled in a legal battle over its new owner's plans for mixed-use redevelopment.
The Franklin Mills Mall will soon join these others as it seeks a new path forward. Whether that path involves rebirth or redevelopment remains to be seen, but one thing is certain – the mall's decline serves as a reminder of the ever-changing nature of retail in the region.
The 170-acre site, which boasts over 1.6 million square feet of retail space, was once a hub of activity, attracting shoppers from all over. But with major tenants like AMC, Forever 21, and Sam Ash music store having vacated the premises in recent years, it's been left to pick up the pieces.
The Franklin Mills property was built as a nod to Benjamin Franklin's famous kite experiment, featuring an animatronic head of the statesman suspended from the ceiling. While its unique design may have once added to its charm, today it's more of a relic of a bygone era.
Currently, only three anchor stores remain – Dave & Buster's, Burlington, and Marshalls. The mall's directory still lists 94 businesses, but most storefronts lie vacant and draw minimal foot traffic. It's clear that the Franklin Mills Mall is no longer the shopping destination it once was.
Despite its current struggles, the property has been appraised at $76 million, a significant drop from its 2012 valuation of $201 million. The mall's loan matured last year with a remaining balance of $244 million, and it will be marketed as potential industrial redevelopment site.
As the retail landscape continues to evolve in the region, several other malls are going through similar transformations. The Neshaminy Mall in Bucks County was recently put on the market and purchased within four months, while the Exton Square Mall is currently embroiled in a legal battle over its new owner's plans for mixed-use redevelopment.
The Franklin Mills Mall will soon join these others as it seeks a new path forward. Whether that path involves rebirth or redevelopment remains to be seen, but one thing is certain – the mall's decline serves as a reminder of the ever-changing nature of retail in the region.
It was once a staple in our community, bringing people together and providing so many shopping options. Now it just feels empty and forgotten 
. The fact that it's being sold for $76 million is crazy to me - back in 2012, it was worth twice as much! That's how fast the retail landscape can change 
. I guess this means that other malls are going through similar struggles too, so maybe they'll find new life like Franklin Mills does? 
... I mean, it's not a surprise, but still! 68% occupancy rate? That's crazy low 
. It's clear they're trying to pass the buck by marketing it as an industrial redevelopment site, but honestly, who wants to buy a huge empty space with no actual tenants? 
I mean, can you believe this? Franklin Mills Mall has been around for ages and it's just... done 
. I remember going there with my friends back in the day and it was like, the ultimate destination 
. But now, it's just a shadow of its former self. The occupancy rate is only 68% 
? That's crazy! And all those stores that left... AMC, Forever 21, Sam Ash... what happened to them? 
. But man, it's sad to see something so iconic like Franklin Mills just fade away 
. I wonder if they'll be able to turn it around or if it's just gonna sit there empty for years to come 
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. And now this place is being marketed as an industrial redevelopment site? Like, what's next? 
. But I guess that's the reality of retail these days. Maybe someone will come along and breathe new life into it, but until then, it's just a reminder of what we've lost 
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. It's like, I get it, shopping habits change and all that jazz. But 68% occupancy rate? That's basically a ghost town, fam 
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. The Neshaminy Mall getting bought out and all that... yeah, no surprise there 
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. Guess you can't always rely on your old malls to stay relevant 
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. And don't even get me started on those anchor stores – Dave & Buster's and Burlington are like the mall's last gasp 
. The Franklin Mills Mall was a product of its time, but it never really adapted to the times. Now, it's just a relic of a bygone era, clinging to its former glory days 
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and now it's just a sad shell of its former self 
hopefully they'll get to see some new life breathed into the mall soon