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ndustrial Realty Group (IRG) and PREP Funds have jointly purchased the Washington Crown Center mall in North Franklin Township, Washington County, Pennsylvania, a property within the greater Pittsburgh market. The 450,000‑square‑foot site will be transformed into Franklin Crossroads Park, a mixed‑use development that blends retail and business functions.
The eastern portion will host a 100,000‑square‑foot retail complex oriented toward Interstate 70, offering high visibility and easy access for shoppers. The western side, previously a vacant retail block, will become a 350,000‑square‑foot business park designed for corporate tenants—including offices, light industry, and research & development facilities. The layout allows for customizable office space, loading docks, and build‑out options.
“Franklin Crossroads Park enjoys excellent access and infrastructure,” said Chris Salata, Partner at PREP Funds. “Our goal is to diversify the site, attract new retailers and businesses, and inject fresh economic activity into North Franklin Township, Washington County, and the surrounding region.” Peter Goffstein, IRG’s Executive Vice President, added that the location’s direct I‑70 interchange positions it well within the Pittsburgh market, promising long‑term growth for the area.
Local leaders have welcomed the project. North Franklin Township Supervisor Bob Sabot called the former mall “a dinosaur” that had weighed down the community, expressing excitement for the new vision. Washington County Commissioner Nick Sherman praised the private investment and pledged county support.
Construction will commence this fall, with part of the mall remaining open through year‑end. The first retail tenants are slated to occupy the new space in Q1 2026, followed by business‑park tenants in late spring or early summer 2026.
Leasing inquiries can be directed to the Genfor Real Estate team:
- Rich Gasperini – [email protected] – 412‑651‑6888
- Mateo Villa – [email protected] – 412‑715‑3454
- Connor Jangro – [email protected] – 412‑805‑7064
About IRG: A national real‑estate development and investment firm, IRG manages over 150 properties across 31 states, totaling more than 100 million square feet. The company is recognized for leading adaptive‑reuse projects that address complex real‑estate challenges.
About PREP Funds: Founded in 2020, PREP Funds specializes in acquisition and development across healthcare, industrial, and retail sectors. The firm manages a $100 million value‑add fund focused on transforming existing properties to enhance value and functionality.
Media contact: Lauren Crumrine, Vice President of Marketing, Industrial Realty Group, LLC – 614‑562‑9252 – [email protected]
