After being under development for 20 years, Uptown Worthington, a mixed-use community in Malvern, has hit the market and could sell for up to $250 million, writes Natalie Kostelni for the Philadelphia Business Journal.
In 2002, Brian O’Neill of MLP Ventures bought the former Worthington Industries Inc., with plans for 750,000 square feet of retail space, a hotel, 753 apartment units, and 490,000 square feet of office space.
“There is nothing like this in our market and nothing like this available in our market,” said O’Neill.
MLP Ventures partnered with Philadelphia-based Lubert-Adler, a real estate firm, to further develop the 100-acre property. Some businesses currently residing in the space are Wegmans, Target, Rothman Institute, and the Royal Worthington apartment complex.
Nemours Children’s Health will occupy a 46,632-square-foot space after signing a 15-year lease. O’Neill has been marketing additional square footage to life sciences tenants.
“It’s time to sell,” he said. “My life sciences businesses are booming, and it’s just time.”
Read more about Uptown Worthington in the Philadelphia Business Journal.
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'There's Nothing Like This in Our Market': Mixed-Use Community in Malvern Up for Sale. Here's What It'll Fetch - VISTA.Today
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