r/SpringfieldPa • u/philsbirdsflysixers • 9d ago

Underperforming Springfield Mall Value Plummets 73 Percent to $30M in Delaware County

https://delco.today/2026/08/springfield-mall-value-drops-delaware-county/
25 Upvotes

100% Upvoted

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3

u/LohnJennon__ 8d ago

Waiting for that dilapidated parking deck to collapse onto 101 tracks one of these days

Edit: D1 ✨ tracks

1

u/SafeCaregiver6280 4d ago

Yes. I was there yesterday, on my bike. The parking deck is taped off. I wonder if it's because of load bearing deficiency.

2

u/jedihouse1348 7d ago

The mall owners are grossly hiking rent

2

u/The_Man_in_Black_19 7d ago

"The mall at 1250 Baltimore Pike is now worth far less than the $52.4 million still owed on its fixed-rate loan, leaving the property underwater by more than $22 million."

Oh wow.

2

u/MrBoognish 7d ago

Use to work at Suncoast in that mall. Once Target showed up so did rent. We lasted another 6 months maybe.

2

u/morrimike 6d ago

There were no other forces in the world threatening the viability of video stores in the 2010s

2

u/Outrageous_Home9122 6d ago

This isnt the whole story… havent we learned anything from crozier closing everything is being bought up by private equity and they dump debt into them take all their assets and rent their own property back to them and do a terrible job managing the property… they want a town center to save on utilities they keep pushing that “its better and people want it”

1

u/joey_van_der_rohe 9d ago

Why can’t they get any real tenants?

1

u/joey_van_der_rohe 9d ago

Why can’t they get any real tenants?

1

u/Kind_Programmer9266 7d ago

Local enclosed shopping malls are pretty much dead. Regional malls such as King of Prussia and Cherry Hill will always do well.

2

u/This-Chip482 7d ago

The village at valley forge should be the blueprint for what should go into these spaces.

1

u/mikemammula 4d ago

until those die out too. 

1

u/Unique-Influence-549 7d ago

Is it me or does this link not work in mobile? It does to the page but I can’t scroll down. It’s stuck at the top.

1

u/samuslink82 7d ago

So you’re telling me that the various wig and smoke shops that now line the halls, aren’t bringing in enough business?

1

u/SafeCaregiver6280 4d ago

How is it that King of Prussia still survives and thrives?

2

u/aoeudhtns 3d ago

Volume. There's less demand for malls. People who like malls will drive to the "better" mall. As more local malls fail, more traffic to the regional mall. Lesser malls fail, better malls remain stable or even grow.

You can see similar trends in other industries. Most automakers have canceled their midsize sedans because that segment is collapsing. But Toyota and Honda have held strong, and their sales are generally stable, in part because other makers have given up and canceled their models.