#United States #Pennsylvania #IRG #PREP Funds #Franklin Crossroads

Introducing Franklin Crossroads Park

In a significant development for North Franklin Township, Pennsylvania, Industrial Realty Group, LLC (IRG) and PREP Funds have announced their plans to transform the Washington Crown Center mall into the innovative Franklin Crossroads Park. This initiative aims to redefine the area's commercial landscape, breathing new life into a once-dormant site.

A New Vision for a Changing Market

The vision for Franklin Crossroads Park represents a strategic response to changing consumer behavior and retail dynamics. As the shopping landscape shifts, with traditional malls facing decline, IRG and PREP Funds are pivoting towards a mixed-use model that fosters both retail and business growth. This ambitious redevelopment will encompass 450,000 square feet of space, promising to attract a variety of new retailers and businesses to the region.

Chris Salata, partner at PREP Funds, emphasized the importance of accessibility: "Franklin Crossroads Park enjoys excellent access and infrastructure. Our goal is to diversify the site's use and make it a vibrant hub for economic activity not just for North Franklin Township but for Washington County and the surrounding areas as well."

Development Plans and Infrastructure

The redevelopment will feature a modern 100,000 square foot retail center located on the eastern edge of the property, designed to maximize visibility and convenience for shoppers with its proximity to Interstate 70. On the western side, a whopping 350,000 square feet of long-vacant retail space will be converted into a business park, catering to a variety of corporate needs including office, industrial, and research and development facilities.

Peter Goffstein, Executive Vice President at IRG, expressed enthusiasm about the site's potential: "This location is ideally positioned within the greater Pittsburgh market, providing direct access to I-70. The development will transform the property to meet the evolving needs of modern enterprises, fostering growth and prosperity."

Community Support and Anticipation

Local leaders are optimistic about this redevelopment. Bob Sabot, Chairman of the North Franklin Board of Supervisors, urged excitement for the project's onset. "The mall has been a burden on our community for years. We believe that the plans from IRG and PREP Funds will bring about much-needed change for the better."

Similarly, Nick Sherman, Chairman of the Washington County Commissioners, echoed Mr. Sabot's sentiments, recognizing the substantial private investment that this redevelopment entails. "This project represents a crucial step forward for our community, and we will remain supportive of the developers' efforts."

Looking Ahead: Transformative Change

Construction is expected to commence this fall, with portions of the mall remaining operational during the transition period. The goal is to welcome the first wave of retail tenants in the first quarter of 2026, with business park tenants expected to move in by late spring or summer of 2026. Customized solutions will be on offer for corporate users, including flexible office layouts and modern loading docks, primed for today's business demands.

The Franklin Crossroads Park redevelopment not only symbolizes a new direction for commercial real estate in Western Pennsylvania, but it also signals a revitalization of community pride and economic prospects. As these plans unfold, many local residents and businesses anticipate a brighter, flourishing future in this reimagined space.

About the Partners

Industrial Realty Group (IRG) is renowned for its prowess in commercial real estate development and investment, managing over 150 properties across the United States. Learn more at industrialrealtygroup.com.

PREP Funds, established in 2020, specializes in strategically revitalizing commercial real estate, focusing on sectors like healthcare, industrial, and retail. For more insights, visit prepfunds.net.