Exton Square Mall officially has a new owner as of Tuesday, with PREIT selling the beleaguered property to Abrams Realty & Development, writes Jake Blumgart for The Philadelphia Inquirer.
Elkins Park-based Abrams plans to demolish most of the existing complex and build housing and some commercial space.
PREIT, which emerged from its second bankruptcy last year, hailed the sale as a pivotal moment.
“We have laid the groundwork for a dynamic redevelopment, and with Abrams Realty’s local expertise, this site is now positioned to fulfill its full potential as a modern, multiuse destination,” said Jared Chupaila, CEO of PREIT.
Plans for the property envision 376 rental apartments and 243 for-sale townhouses in a “pedestrian- and wellness-oriented mixed use town center,” according to the company.
The developer aims to make the entire community walkable by focusing on the planned Main Street of the new complex.
Also planned are 146,673 square feet of new commercial space, a new Main Line Health location, 95,000 square feet for entertainment and fitness, and 48,000 square feet of office space.
The new owner will keep Boscov’s stand-alone department store as is.
Read more about the purchase and proposed development of the Exton Square Mall in The Philadelphia Inquirer.
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Editor’s Note: This post was originally published on VISTA Today in March 2025.
