As reported in the Philadelphia Inquirer, it appears Wegmans will indeed be coming to Montgomeryville, Pennsylvania. The Wegmans will be built on the site of the former Boscov’s department store.
Montgomeryville is one of the top retail markets in southeastern and southern New Jersey. Given the density of the market, land to construct such a large store was simply not available, so redeveloping a site was the only option. Stuart Conston and Rob Samtmann, both of Equity Retail Brokers, represented the Sellers of the two former department store ground leases; one at the Oxford Valley Mall in Langhorne, PA and the other at the Montgomery Mall in Montgomeryville, PA. The Oxford Valley Mall location was also previously occupied by Boscov’s.
Wegmans will be constructing an approximately 125,000 SF store that will be detached from the Mall. The grocer’s construction schedule is filled for 2012, so the beginning of construction and the subsequent opening have yet to be determined.
