The Philadelphia Business Journal reported that the supermarkets at Montgomery and Plymouth Meeting Malls are for sale. Wegmans, at 128,000 square feet, has been operating at the Montgomery Mall since 2013, and the 65,000 square foot Whole Foods opened in Plymouth Meeting in 2010.
Kohan Retail Investment Group purchased the Montgomery Mall last month for $55 million in a foreclosure sale. The Plymouth Meeting Mall is owned by PREIT, which two years ago sold the building leased to Whole Foods at its Exton Mall property for $22.1 million.
According to the Business Journal story, PREIT spokesperson Heather Crowell said the company identified $120 million in asset sales – including the Whole Foods property – that could close by mid-2022.
