Transforming a Mall into a Thriving Community Hub

Author: Caleb Price Updated: 09-22-2025 11:27 AM

Revitalizing a Community Space

The project at the Washington Crown Center, previously a traditional mall, is an adaptive reuse initiative that aims to transform it into a modern mixed-use hub. This redevelopment signifies a fresh start, rebranding the site as Franklin Crossroads Park, breathing new life into the area.

Partners in Progress

Industrial Realty Group, LLC (IRG) and PREP Funds have joined forces for this exciting venture. Both firms are committed to revitalizing commercial spaces and enhancing local economies, making them exemplary partners for this project.

Project Vision

With a footprint of 450,000 square feet, Franklin Crossroads Park will cater to various business needs. The redevelopment plans include establishing a 100,000-square-foot retail center on the eastern side, ensuring maximum visibility for customers and potential business tenants alike.

Community Impact

This initiative not only aims to fill the void left by the aging mall but actively seeks to enhance the local economy. The vision is clear: attract new retailers and businesses, thus invigorating economic activity in the region.

Infrastructure and Accessibility

The location benefits from excellent infrastructure and direct access to major roadways, making it appealing for business operations. This accessibility is crucial for retailers and corporate users who require logistics efficiency.

Future Prospects

On the western side of the property, a significant transformation awaits, where 350,000 square feet of long-vacant retail space will evolve into a business park. This area is designed to accommodate a mix of corporate uses, offering flexible spaces for office, industrial, and research and development tenants.

Community Support for Vision

The project has received enthusiastic endorsements from local leaders. They believe this redevelopment is a significant step towards addressing the void left by the previous mall's decline.

Progress Timeline

Construction is set to commence soon, with plans to keep a portion of the existing mall operational during the transition. The developers, IRG and PREP Funds, aim to welcome their first retail tenants by early 2026, with the business park tenants following shortly after.

Contact for Leasing Inquiries

For those interested in leasing opportunities at Franklin Crossroads Park, the Genfor Real Estate team is ready to assist:

Frequently Asked Questions

What is Franklin Crossroads Park?

Franklin Crossroads Park is a reimagined development project that transforms the former Washington Crown Center mall into a thriving mixed-use retail and business hub.

Who is involved in the redevelopment?

The project is a partnership between Industrial Realty Group, LLC (IRG) and PREP Funds, both well-regarded in real estate development.

When will the new retail center open?

The first retail tenants are expected to occupy the new space in early 2026, with business park tenants following shortly thereafter.

How will this redevelopment impact the local economy?

This project aims to enhance local economic activity by attracting new businesses and providing modern spaces that meet current market demands.

What types of businesses are expected to move in?

The development will include a mix of retail and corporate tenants, including spaces for offices, industrial, and research and development entities.

About The Author

Hey there I'm Caleb Price, a writer and financial specialist who loves to assist others in understanding the financial world. Having years of practical experience and a solid background in finance, my area of expertise is converting difficult financial ideas into useful, doable insights for my blog and publications. My goal with my writing is to give readers the information and assurance they need to successfully negotiate their financial journeys.

My ability to interact with a wide range of people—from novices starting their investing journey to seasoned investors looking for new approaches—has come from contributing to several financial blogs. Making money approachable and understandable is my goal; this will enable you to make wise choices and realize your financial objectives. We appreciate you coming along on this path to success and financial empowerment on Investors Hangout.

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