Walmart purchases Monroeville Mall in Pennsylvania for redevelopment plans
qz.com —
Walmart has purchased Monroeville Mall near Pittsburgh for $34 million, signaling a potential revival of mall spaces in Pennsylvania. The company aims to be involved in future redevelopment plans for the 186-acre property. The mall, which has struggled with declining foot traffic and the rise of online shopping, will be redeveloped with a focus on mixed-use options, including new dining and possibly residential units. Walmart has engaged Cypress Equities for this project. Despite perceptions of malls declining, foot traffic increased significantly during the 2024 holiday season, indicating ongoing demand for adaptable retail spaces. Walmart's move may inspire other retailers to explore similar opportunities.