Buy Fairgrounds Square Mall

1. Site visit

Before you go: the record page has the photos and sources; satellite and Street View show access, the ring road, the anchor boxes and what the neighbors have become. Then ask the owner for a walk-through, or plan a self-guided drive.

Satellite Street View Sources on the record

2. Owner

Owner of record: Reading Mall LLC (county parcel, retrieved 2026-10-21).

Recorded owners over time: Hull Storey Gibson; Hull Property Group (2016); Hull Property Group (2016); GP Properties Inc (1999–2013); GP Properties Inc (1999–2013); BNY Mellon (2013–2016).

Ask for an introduction to the owner Own or represent this site? Claim it

We write to an owner of record or a strongly matched filer at a published business address, with your name and request, and tell you only if they agree. Not a brokerage; no fee; each note is read by a person before it goes.

3. What could be built (massing)

No massing study on file for this site. What one needs, in order: the parcel polygons (county GIS), the zoning district and its FAR, height, coverage and density rules (the municipal code), then a by-right and an upzone scenario. We have the engine (built for DeKalb County, Georgia) and extend it one county at a time on request.

4. Business plan skeletonsourced numbers in, assumptions blank

A one-page skeleton with the sourced numbers filled and the assumptions left blank. Copy it into your own document.

Copy the skeleton

BUSINESS PLAN SKELETON: Fairgrounds Square Mall, Muhlenberg, PA
Drafted 2026-10-21 from the Retrofit Atlas record m-5b117db75b (https://retrofitatlas.org/malls/pa/muhlenberg-fairgrounds-square-mall/). Every number below carries its source on that page; lines marked [assumption] are yours to fill.

1. The site
   Closed, closed 2018, opened 1980.
   Acres: [not on file], 725,000 sq ft GLA, 2 parcels.
   Owner of record: Reading Mall LLC.
   Assessed value: [not on file]; annual tax: [not on file].
   Last recorded sale: $13.6M (2013).

2. Market (location sheet)
   Tract 42011012600: population 2,658
   Median household income $72,273 (+60% 2013 to 2023)
   Median gross rent $1,200/mo; renter share 31%
   County typical home value $310,918 (+37% 5 yr); typical rent $1,551/mo.
   Units permitted in 5+ unit buildings, county, 2024: 165.
   Walkability 9.3 of 20; jobs within 45 min by car 66,751.
   Transit: rail within 800 m none; bus stops within 400 m 0.

3. Program [assumption]
   Use mix: [e.g. 400 homes, 40,000 sq ft retail, 1 anchor box reused for a clinic]
   Phasing: [e.g. demolish the spine, keep two anchors, build the street grid first]
   Multifamily screen, points for and against: closed or demolished site (sourced); county grew 3.2% 2018–23; housing in the record

4. Entitlement
   Zoning on parcel: [not on file].
   Public tool on record: tax incentive from Muhlenberg Township.
   Zoning change on record: [none on file].
   Opportunity Zone: no; LIHTC units within 1 km: 0.

5. Risk
   Flood zone: X; composite hazard risk, tract: Relatively Low.
   Debt on record: [none on file].
   Environmental, structural, title: [Phase I, survey and title commitment to be ordered in due diligence]

6. Precedent (built retrofits in this database)
   Allegheny Center Mall, Pittsburgh, PA: Reinhabited (2015) https://retrofitatlas.org/malls/pa/pittsburgh-allegheny-center-mall/
   Gallery (now Fashion District Philadelphia), Philadelphia, PA: retail https://retrofitatlas.org/malls/pa/philadelphia-gallery-now-fashion-district-philadelphia/
   Greengate Mall, Greensburg, PA: retail (2003) https://retrofitatlas.org/malls/pa/greensburg-greengate-mall/
   Parkview at Chesterbrook, Chesterbrook, PA: housing, retail https://retrofitatlas.org/malls/pa/chesterbrook-parkview-at-chesterbrook/
   Acadiana Mall (former Selber Bros. site), Lafayette, LA: retail (1991) https://retrofitatlas.org/malls/la/lafayette-acadiana-mall-former-selber-bros-site/

7. Capital [assumption]
   Land: [offer price]; hard and soft costs: [per unit or per sq ft]; sources: [senior debt, equity, public incentives]; exit or hold: [ ]
   Reported mall sales in this database (public reporting, not appraisals): Exton Square Mall, PA 2025 $34.2M ($456,667/ac); Neshaminy Mall, PA 2024 $27.5M ($254,630/ac); Schuylkill Mall, PA 2017 $2.1M; The Marketplace Mall, NY 2023 $240.0M ($3.0M/ac); Boulevard Mall, NY 2021 $30.0M ($476,190/ac).
   What this database does not have: appraisal-grade comps, rent roll, foot traffic, construction costs. Order them.

8. Team [assumption]
   Developer, architect, civil, counsel, lender: see section 6 of this kit for names with precedent.

5. Financinglenders and public tools on the record

What the record says about who has financed or held this site, and who finances retrofits elsewhere in the database. Introductions go through the desk; we name no lender to you that is not already on the public record.

6. Architects and developers with precedent

Precedent, not a recommendation: these firms are named on built retrofits in this database. The correction form takes additions, with a source.

7. Offer letternon-binding letter of intent, drafted from the record

What malls have sold for, from the deal rows in this database since 2015 (public reporting, not appraisals; same state first, then the same Census division). Prices are as reported; an asterisk marks dollars per acre computed from the price and the acreage on file.

Every reported sale with a price: deals and debt. These are whole-property sales of malls in varied condition; they are context for an offer, not a valuation.

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The desk button opens an email from your own mail app to desk@retrofitatlas.org. It contains only the record id and the property facts shown (acreage, floor area, parcel numbers), so the desk will know which property you asked about and will see your email address; it does not include your price, terms or the seller's name. The desk checks the record against public county data and replies; it does not verify title, survey or law, and keeps the message only to answer it. The desk does not use your message to pursue the property and shares it with no one. Retrofit Atlas does not act as a broker: it does not negotiate for or represent either side, does not forward offers, and takes no fee on any sale.

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