The Lincoln Plaza shopping center that has long been attached to the Oxford Valley Mall campus was sold.
Simon Property Group sold the shopping center along East Lincoln Highway near the intersection with Oxford Valley Road in Middletown Township in fall for $34,250,000, according to county property records.
The new owner is Paramount Plaza at Lincoln LLC, which is connected to Paramount Realty Services. The company owns and operates dozens of shopping centers in Connecticut, Massachusetts, Maryland, New Jersey, and Pennsylvania, including the Levittown Retail Center on New Falls Road in Middletown Township and several retail areas in Bensalem Township.
Representatives for both companies did not respond to a request for comment on the sale.
Lincoln Plaza is anchored by DSW Shoe Warehouse, T.J. Maxx, HomeGoods, HomeSense, and Raymour and Flanigan. It also includes Nordstrom Rack, Men’s Wearhouse, and Chick-Fil-A. Over the past few years, eateries Chipotle, Five Guys, Melt Shop, and Metro Diner were added.
A since-removed listing from commercial real estate company Jones Lang LaSalle listed the property with 262,682-square-feet of space with 94 percent occupancy as of April.
According to county tax records, the property brings in about $510,000 in county, municipal, and school taxes annually.
Simon Property Group, who owns malls and properties around the globe, continues to move forward with redevelopment goals for the Oxford Valley Mall, according to two sources with knowledge of the proposal.
Developer Cornerstone Tracy is still is on track to build 600 upscale apartments in a two-phase plan in the old Boscov’s parking lot, which will lead to the long-closed anchor store being demolished.
Simon Property Group still has plans for changes to the rest of the 1,336,000-square-foot mall, news of which LevittownNow.com broke in 2019.
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