Brandywine Shopping Center in Glen Mills to Include 140,000 Sq. Ft. Wegmans Store
By Veronica Grecu, Associate Editor
The recent sale of a large parcel of land on Route 202 and the Route 1 loop and southwest of the intersection of Routes 1 and 202 in Glen Mills, Pa. unveiled Wegmans’ big plans for Delaware County.
According to the Philadelphia Business Journal, the nearly 30-acre parcel was sold for an undisclosed amount by D.O.H. Family, LP to Carlino Development, which went under the name Chadds Ford Investors, LP in the acquisition. KarMar Realty Group represented both parties in the transaction.
Shortly after the deal was concluded, the Rochester, NY-based supermarket chain signed a long-term ground lease for a portion of the land with plans to build a new store at the site.
Scheduled to open in the fall of 2015, the 140,000-square-foot store will be developed by Carlino and will be Wegmans’ seventh store in the region and the 17th in Pennsylvania. Once functional, the store is expected to draw shoppers from north Wilmington, Chester County and the rich suburbs of Delaware County, the Inquirer predicts.
The new Wegmans store is part of a massive construction project that Carlino Development has envisaged for the intersection of Routes 1 and 202. According to the Delaware County Daily Times, the 30-acre site will be replaced by an upscale shopping center made of stone and glass that will enliven the now-underdeveloped area. The project received final approvals from the Delaware Planning Commission in December 2013.
Called Brandywine Mills, the new shopping center will also include 40,000 to 50,000 square feet of retail space available for lease to around 15 tenants, as well as around 750 parking spaces. When completed in September next year, the mega retail center is expected to generate more than 1,000 jobs in the area.
“When the new Wegmans is completed it will be 16 miles from the store in Malvern and is ideally placed to serve Delaware County, southern Chester County and northern Delaware,” said Justin Soss, executive vice president of KarMar Realty Group, Inc. “When the new extension of the loop road is completed the property will have easy ingress and egress from both Routes 1 and 202,” he added.
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Images courtesy of Carlino Development and Catalyst Commercial DevelopmentTags: Acquisitions/Dispositions, Brandywine Mills, Brokers, Carlino Development, Chadds Ford Investors, Commercial, Consumer, delaware county, Developers, Development, economy, Finance/Investment, Financiers, Glen Mills, Investors, KarMar Realty Group, leasing, Local, National, operations, Philadelphia Lead Story, Professional, Regional, retail, shopping centre, Wegmans