Franklin Mall Seeks New Life as Industrial Site After Years of Decline
The 36-year-old Franklin Mall in Northeast Philadelphia has been listed for sale after a long decline that's seen it lose major tenants, including AMC movie theater, Forever 21, and Sam Ash music store. The once-prestigious shopping destination now boasts an occupancy rate of just 68%, with vacant storefronts stretching across the 170-acre site.
The mall, built in the shape of a lightning bolt as a nod to Benjamin Franklin's famous kite experiment, has undergone significant changes since its heyday. Its interior featured an animatronic Ben Franklin head suspended from the ceiling and once hosted a TV commercial that showcased the store dancing to "Electric Boogie." However, this nostalgic atmosphere is now nothing more than a distant memory.
Today, the only remaining anchors are Dave & Buster's, Burlington, and Marshalls, with minimal foot traffic drawing shoppers to its hallowed halls. The directory still lists 94 businesses, ranging from Old Navy and Foot Locker to Five Below and URBN outlet Reclectic. The property was last renovated in 2016.
The Franklin Mall has seen significant financial struggles over the years, with an appraised value that dropped from $201 million in 2012 to a mere $76 million in 2023. A loan on the property matured last year, leaving a remaining balance of $244 million.
As the retail landscape continues to evolve, the Franklin Mall is set to join other struggling malls in the region as redevelopment sites. The Neshaminy Mall was sold just a year ago and plans are already underway for its transformation into an industrial hub. Meanwhile, the Exton Square Mall faces a contentious legal battle over its new owner's plans.
In a larger context, several regional malls have been sold or put up for sale in recent times. The Plymouth Meeting Mall is being redeveloped with housing, athletic fields, and a community center, while the former Echelon Mall will be transformed into residential properties surrounding revamped retail spaces.
The future of Franklin Mall remains uncertain as it seeks new investors to revive its fortunes. Will this once-thriving shopping destination find new life as an industrial site, or will it succumb to the changing retail landscape? Only time will tell.
The 36-year-old Franklin Mall in Northeast Philadelphia has been listed for sale after a long decline that's seen it lose major tenants, including AMC movie theater, Forever 21, and Sam Ash music store. The once-prestigious shopping destination now boasts an occupancy rate of just 68%, with vacant storefronts stretching across the 170-acre site.
The mall, built in the shape of a lightning bolt as a nod to Benjamin Franklin's famous kite experiment, has undergone significant changes since its heyday. Its interior featured an animatronic Ben Franklin head suspended from the ceiling and once hosted a TV commercial that showcased the store dancing to "Electric Boogie." However, this nostalgic atmosphere is now nothing more than a distant memory.
Today, the only remaining anchors are Dave & Buster's, Burlington, and Marshalls, with minimal foot traffic drawing shoppers to its hallowed halls. The directory still lists 94 businesses, ranging from Old Navy and Foot Locker to Five Below and URBN outlet Reclectic. The property was last renovated in 2016.
The Franklin Mall has seen significant financial struggles over the years, with an appraised value that dropped from $201 million in 2012 to a mere $76 million in 2023. A loan on the property matured last year, leaving a remaining balance of $244 million.
As the retail landscape continues to evolve, the Franklin Mall is set to join other struggling malls in the region as redevelopment sites. The Neshaminy Mall was sold just a year ago and plans are already underway for its transformation into an industrial hub. Meanwhile, the Exton Square Mall faces a contentious legal battle over its new owner's plans.
In a larger context, several regional malls have been sold or put up for sale in recent times. The Plymouth Meeting Mall is being redeveloped with housing, athletic fields, and a community center, while the former Echelon Mall will be transformed into residential properties surrounding revamped retail spaces.
The future of Franklin Mall remains uncertain as it seeks new investors to revive its fortunes. Will this once-thriving shopping destination find new life as an industrial site, or will it succumb to the changing retail landscape? Only time will tell.
. It was like a piece of Philly history, but now it's just a shadow of its former self 
. I mean, who needs all those empty stores, right? 
But at the same time, I think it's cool that they're giving it new life as an industrial site 
. Maybe it'll be more sustainable in the long run. And I love that some of the old anchors are staying on, like Dave & Buster's 
. Fingers crossed that someone comes along and revives its spirit 
. The mall might not be the same, but it can still find a new purpose 
.
. it's crazy how these places can go from being super popular to total ghost towns in like 20 years. i mean, what even is the point of keeping a mall around if nobody wants to shop there? they're just gonna end up as industrial sites or whatever and who cares about that 
. it's not like anyone's gonna miss AMC or Forever 21... just another casualty of the online shopping apocalypse 
i mean, who needs a giant empty space just chillin' in the suburbs? but at the same time, it's kinda cool that they're thinkin' outside the box (or boxy, lol) and considerin' an industrial revamp 
like, can you imagine Dave & Buster's makin' its own widgets or somethin'? 
anyway, i guess we'll just have to wait and see what happens next... maybe someone will come along and breathe some new life into that ol' lightning bolt mall 
️
. It's all about profit over people, if you ask me. And let's not forget, this is just another example of how our retail landscape is getting disrupted by big-box stores and online shopping 
. We need policies that support local businesses and encourage innovation, not just big corporations swooping in to reap the benefits 
i feel bad 4 all the people who lost their jobs n stuff but i guess thats whats happenn wen ur in a dying industry 
it's crazy how something that was once so iconic and popular can just decline like that 
anyway, it'll be interesting to see what happens next with this place - industrial site or not, i just hope whoever buys it puts some effort into revamping it and making it functional again 
I guess it's all about adapting now tho, turning old malls into industrial sites or housing developments is probably the way of the future 
. but what happens to all the memories and nostalgia associated with those malls? like Franklin Mall was built in this iconic lightning bolt shape as a tribute to Ben Franklin 
. It's crazy how one of the original anchors (AMC) already left, and now it's down to just a few remaining tenants 
like how they still got that animatronic Ben Franklin head hanging from the ceiling... still trying to recapture some of that nostalgic magic 
. but seriously, $244 million debt is a whole lotta cash for a mall with only 68% occupancy... gotta wonder what kind of investors are gonna take on this risk 
.
time flies man
well this just reminds me that some of those concepts are meant for physical spaces too! like think about it - a mall as an industrial site could actually be super cool 
with converted warehouses, coworking spaces, and even VR tech hubs! plus it would be sick to see old abandoned stores get revamped into art studios or makerspaces 
just imagine the possibilities!
So, when I saw Franklin Mall struggling to stay afloat after all those big-name tenants left, I thought, "Aww, what's gonna happen to this iconic spot?" But then I started thinking... maybe it's not the end of an era just yet! 
.
The nostalgia factor is definitely gone now. Remember when it was the go-to spot for shopping and entertainment? Now, it's just a shadow of its former self.
Who knows, maybe we'll have a trendy co-working space or even a hipster coffee shop popping up there soon 
️ The fact that it's already been listed for sale with such a low appraised value tells me the writing was on the wall.
. And who knows maybe one day we'll see a Ben Franklin-themed arcade or something 
.
.