Kin Properties Acquires Vacant PA Macy's Property
Florida developer Kin Properties has sold the site of the former Macy’s store at the Neshaminy Mall for redevelopment.
The 211K SF dark anchor site in Bensalem, Pennsylvania, near Philadelphia, was traded to SANT Properties of Huntington Valley, Pennsylvania, for an undisclosed amount.
The transaction includes 16 acres and the former Macy’s box. It was arranged by Colliers' Todd Sussman and Jon Kieserman, who have been named exclusive leasing agents for the deal.
According to Colliers, SANT has reimagined the property as a mix of new exterior-facing small retail and/or restaurant tenants along with several new outparcels that might attract “statement restaurant operators” to the mall. Flexible zoning allows for fitness, entertainment and office uses, among other things.
“We are excited to be an integral part of the redevelopment of this parcel. The 16 acres and the former Macy’s box will certainly be the key to transforming one of the most strategically placed malls in the Tri-state area,” Sussman said in a press release.