PHILADELPHIA (KYW Newsradio) — Franklin Mall, better known by its former name, Franklin Mills, is up for sale.
Jones Lang LaSalle Inc. has the Northeast Philly outlet mall listed on its website, but has not included a sale price.
JLL is pitching the shopping center as a possible industrial redevelopment play, noting its proximity to I-95 as a contributing factor.
The description also says the mall's zoning classification allows for wholesale, distribution, and storage uses. JLL says that designation could allow an investor to try and develop up to $1.4 million square feet of new warehouse space.
According to the listing, the nearly 40-year-old shopping center currently is about 68% occupied.