Northeast Philadelphia, December 4, 2025
Franklin Mall in Northeast Philadelphia, formerly known as Franklin Mills, has been listed for sale due to significant declines in valuation and visitor numbers. Once attracting 20 million visitors annually, it now sees only 5.6 million. With a current occupancy rate of 68%, the mall’s appraised value has dropped drastically from $370 million in 2007 to $76 million in 2024. The sale offers redevelopment opportunities, although existing structures may need demolition to accommodate new industrial or office space.
Franklin Mall in Northeast Philadelphia Listed for Sale Amid Declining Performance
Philadelphia, PA – Franklin Mall, formerly known as Franklin Mills and Philadelphia Mills, has been listed for sale following years of declining valuation, occupancy, and visitor numbers. The 36-year-old, 1.8-million-square-foot facility, located at Knights and Woodhaven Roads in Northeast Philadelphia, is now under the ownership of Jones Lang LaSalle (JLL), a private investment group. The mall’s name was changed to Franklin Mall after the acquisition.
The sale presents an opportunity for potential redevelopment, focusing on industrial and office development, with an emphasis on the property’s strategic location. However, it is important to note that parcels housing Sam’s Club and Walmart are not part of the sale.
Once a bustling retail hub, Franklin Mall has seen a significant decline over the years. In its 1990s heyday, it attracted approximately 20 million visitors annually. Recent reports indicate a sharp decrease, with only 5.6 million visitors recorded in the latest data. Additionally, the mall’s occupancy rate has fallen to 68%, while the average existing lease term is just 1.7 years.
The financial challenges faced by the mall are highlighted by its falling appraised value, which has dropped from $370 million in 2007 to $76 million in 2024. This is indicative of broader trends within the retail industry, as traditional shopping centers continue to struggle with shifts in consumer behavior and the growing prominence of online shopping.
Challenges for redevelopment of the mall site include its size and existing structure. Experts suggest that finding a sustainable retail use for the existing building may be unlikely, indicating that demolition could be necessary for new development. The site’s zoning for auto-oriented commercial use may allow for significant redevelopment, potentially accommodating up to 1.4 million square feet of new warehouse space.
The sale of Franklin Mall aligns with regional trends of mall closures and redevelopments, with similar transformations underway at Plymouth Meeting Mall and Exton Square Mall. These shifts within the retail and real estate landscape of the Philadelphia region reflect evolving needs and opportunities.
Frequently Asked Questions (FAQ)
What is Franklin Mall?
Franklin Mall, formerly known as Franklin Mills and Philadelphia Mills, is a 1.8-million-square-foot shopping center located in Northeast Philadelphia. It opened in 1989 and was once a major retail destination.
Why is Franklin Mall being sold?
The mall has experienced a significant decline in valuation, occupancy, and visitor numbers over the years. Recent reports indicate a sharp decrease in visitors and a low occupancy rate, leading to its listing for sale.
What are the redevelopment plans for Franklin Mall?
The real estate listing highlights potential redevelopment opportunities, including industrial and office development. However, parcels housing Sam’s Club and Walmart are excluded from the sale. Redevelopment of the site may require demolition of the existing structure to accommodate new development.
How has Franklin Mall’s performance changed over time?
In its 1990s heyday, Franklin Mall attracted approximately 20 million visitors annually. Recent data shows a decline to 5.6 million visitors, with an occupancy rate of 68% and an average lease term of 1.7 years.
What is the current appraised value of Franklin Mall?
The mall’s appraised value has decreased from $370 million in 2007 to $76 million in 2024, reflecting broader trends in the retail industry.
What are the challenges in redeveloping Franklin Mall?
Redeveloping the mall site presents challenges due to its size and existing structure. Repurposing the existing building for retail use is considered unlikely, and demolition may be necessary to accommodate new development. The site’s zoning for auto-oriented commercial use could facilitate industrial redevelopment, potentially allowing for up to 1.4 million square feet of new warehouse space.
Key Features of Franklin Mall
| Feature | Details |
|---|---|
| Original Name | Franklin Mills |
| Current Name | Franklin Mall |
| Location | Northeast Philadelphia, PA |
| Size | 1.8 million square feet |
| Opening Year | 1989 |
| Former Annual Visitors | Approximately 20 million in the 1990s |
| Current Annual Visitors | 5.6 million |
| Occupancy Rate | 68% |
| Average Lease Term | 1.7 years |
| Appraised Value (2024) | $76 million |
| Potential Redevelopment | Industrial and office development; up to 1.4 million square feet of new warehouse space |
Deeper Dive: News & Info About This Topic
HERE Resources
Celebrate New Year’s Eve with Philadelphia’s Top Events
Philadelphia Events for December 2–7
Philadelphia Thanksgiving Day Parade: Road Closures and Updates
Upcoming Health Events in Philadelphia, PA – October 2025
Upcoming Health Events in Philadelphia – September 2025
Philadelphia Eagles Explore New Stadium Options
Philadelphia Eagles Explore Future Stadium Options
Philadelphia School District Releases New Academic Calendar
Upcoming Health Events in Philadelphia – August 2025
Upcoming Health Events in Philadelphia – July 2025
Author: STAFF HERE PHILADELPHIA WRITER
The PHILADELPHIA STAFF WRITER represents the experienced team at HEREPhiladelphia.com, your go-to source for actionable local news and information in Philadelphia, Philadelphia County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mummers Parade, Philadelphia Flower Show, and Thanksgiving Day Parade. Our coverage extends to key organizations like the Greater Philadelphia Chamber of Commerce and United Way of Greater Philadelphia, plus leading businesses in telecommunications, food services, and healthcare that power the local economy such as Comcast, Aramark, and Children's Hospital of Philadelphia. As part of the broader HERE network, we provide comprehensive, credible insights into Pennsylvania's dynamic landscape.
