08/28/2026
Uptown Worthington is for sale.
The 90 acre property off 202 in Malvern, the one with Wegmans and the apartments and the medical offices, went on the market this week at an asking price of at least $200 million. The sellers are a joint venture between MLP Ventures and Lubert-Adler, and they have held it for 15 years. Dean Adler, who co-founded Lubert-Adler, said it is a great asset with a lot of upside, but after 15 years it is time.
Here is the part that matters if you do business on that side of 202. The retail is 97 percent occupied and the apartment building is 93 percent occupied, so nothing about this is distressed. What is really being sold is the part that has not been built yet. There are 22.5 acres still open, and 556,000 square feet of construction is already approved for them. That includes 3 retail buildings, 2 apartment buildings of up to 250 units each, and 3 medical buildings.
Whoever buys this decides what goes on that land, and that shapes traffic and foot traffic and who your neighbors are for the next 10 years.
There is no buyer and no timeline yet. The Target is separately owned and is not part of the sale.
Anybody hearing who is circling it?