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Will the Burlington Center Mall Make a Good Real Estate Investment Project?

The Courier-Post Online has an update on what’s happening at the Burlington Town Center, Burst pipes shutter Burlington mall, but will it reopen?

The Burlington Center Mall opened in 1982 amid much excitement from local residents.

It brought jobs, a wide array of retail stores, and several strong anchor stores, such as Strawbridge & Clothier and Sears, and a wonderful food court.

Its location between Interstate 295 and the New Jersey Turnpike with proximity to routes 130 and 38 was another attraction.

It closed on Jan. 8 – although Sears remains open – after damage from burst water pipes, and township officials say they can’t say whether it will reopen. The ailing mall was down to about five remaining stores with about 90 vacancies.

Corter reiterated, however, that township officials have not been given any official word that the mall is closing permanently.

A quick look at Google shows the mall had been struggling for awhile.

If the mall is indeed closed, one has to wonder about the redevelopment opportunities.

Though are a number of malls across the country has closed for good, some innovative real estate investors have found great opportunities in redeveloping the properties into something more desired by today’s shoppers. One local mall redevelopment that is being undertaken, in the Delaware County real estate market, is the Granite Run Mall. The former Granite Run Mall is being turned into the Promenade at Granite Run.

With a completely different feel than malls of old, Town Centers are attractive to both shoppers and tenants. Will be interesting to see if something similar is undertaken at the Burlington Center Mall in the future.