The Bensalem Economic Development Corp. (BEDC) recently met with the new owner of Neshaminy Mall, Paramount Realty, which used the opportunity to express its dedication to developing the site, writes Dino Ciliberti for Patch.

Paramount Realty owns several other malls, including Neshaminy Mall neighbor, Woodhaven Mall.

“We are thrilled to report that the Neshaminy Mall has sold,” said the BEDC. “The BEDC has met with the new owners who have strong ties to Bucks County, own several other properties in the area, and are dedicated to working with community members as plans develop for the space.”

Neshaminy Mall has a long and rich history in the community.

“We look forward to future upgrades in, what is planned to be, a mixed-use space,” said the BDEC.

Paramount Realty acquired the 1 million-square-foot mall from Edgewater Properties in mid-July. The property sits on a 108.5-acre lot on Route 1. The mall has several high-performing tenants, including Boscov’s, Barnes & Noble, and a 24-screen AMC Theatre.

According to the BDEC, the initial reaction from the community has been positive as “there is hope our new business neighbors will breathe a much-needed revitalization into the community.”

Read more about the future of Neshaminy Mall in Patch.

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