Granite Run Mall
Encyclopedia
The Granite Run Mall is a double-level shopping mall located on U.S. Route 1
in Media, Pennsylvania
, a western suburb of Philadelphia
. It opened in 1974 and was remodeled in 1984 and 1994.
closed; it was replaced with Boscov's
in 1993. In 1998, Simon Property Group
and Macerich purchased the mall, with Simon responsible for managing the mall. In recent times, the Granite Run Mall has seen an increase in vacancies and interest was shown in selling the mall. In February 2011, Simon and Macerich were over 30 days delinquent on the mall's $115 million mortgage, leading to the possibility of a sale or forfeiture of the mall. On April 1, 2011, Madison Marquette acquired the Granite Run Mall from Simon Property Group. Following the acquisition, Madison Marquette announced plans to improve lighting, the parking lots, and sidewalks as well as to fill vacancies.
U.S. Route 1
U.S. Route 1 is a major north–south U.S. Highway that serves the East Coast of the United States. It runs 2,377 miles from Fort Kent, Maine at the Canadian border south to Key West, Florida. U.S. 1 generally parallels Interstate 95, though it is significantly farther west between...
in Media, Pennsylvania
Media, Pennsylvania
The borough of Media is the county seat of Delaware County, Pennsylvania and is located west of Philadelphia. Media was incorporated in 1850 at the same time that it was named the county seat. The population was 5,533 at the 2000 census. Its school district is the Rose Tree Media School District...
, a western suburb of Philadelphia
Philadelphia, Pennsylvania
Philadelphia is the largest city in the Commonwealth of Pennsylvania and the county seat of Philadelphia County, with which it is coterminous. The city is located in the Northeastern United States along the Delaware and Schuylkill rivers. It is the fifth-most-populous city in the United States,...
. It opened in 1974 and was remodeled in 1984 and 1994.
History
The Granite Run Mall opened in 1974. In 1986, the Gimbels store was converted to Sterns after Allied Stores purchased seven Gimbels locations in the Philadelphia area. In 1989, Stern'sStern's
Stern's was a regional department store chain serving the U.S. states of New York, Pennsylvania, and New Jersey. The chain was in business for more than 130 years, prior to its 2001 integration into Macy's and Bloomingdale's...
closed; it was replaced with Boscov's
Boscov's
Boscov's is an American department store founded by Solomon Boscov in 1911. The first store was in Reading, Pennsylvania, and today 40 stores are spread throughout the Mid-Atlantic states of Pennsylvania, New Jersey, Maryland, New York, and Delaware....
in 1993. In 1998, Simon Property Group
Simon Property Group
Simon Property Group, Inc. is an American commercial real estate company, ranked #1 in the United States as the largest real estate investment trust. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers, The...
and Macerich purchased the mall, with Simon responsible for managing the mall. In recent times, the Granite Run Mall has seen an increase in vacancies and interest was shown in selling the mall. In February 2011, Simon and Macerich were over 30 days delinquent on the mall's $115 million mortgage, leading to the possibility of a sale or forfeiture of the mall. On April 1, 2011, Madison Marquette acquired the Granite Run Mall from Simon Property Group. Following the acquisition, Madison Marquette announced plans to improve lighting, the parking lots, and sidewalks as well as to fill vacancies.
Anchors
- Boscov'sBoscov'sBoscov's is an American department store founded by Solomon Boscov in 1911. The first store was in Reading, Pennsylvania, and today 40 stores are spread throughout the Mid-Atlantic states of Pennsylvania, New Jersey, Maryland, New York, and Delaware....
(174,717 sq ft.) (Former Gimbels and Stern'sStern'sStern's was a regional department store chain serving the U.S. states of New York, Pennsylvania, and New Jersey. The chain was in business for more than 130 years, prior to its 2001 integration into Macy's and Bloomingdale's...
) - JCPenney (150,792 sq ft.)
- Sears (175,320 sq ft.)