New England Development has put Medford’s 291,860-square-foot Meadow Glen shopping center on the market after a recent redevelopment that replaced the former mall’s interior section with three new anchor tenants, including Wegmans supermarket.

HFF Boston is marketing the 100 percent leased center for New England Development, which acquired the property in 1994. The weighted average lease term is over 15 years, including Wegmans’ 25-year lease, according to marketing materials.

The enclosed mall was completed in the 1979 but had declined in recent years, with independent shops filling some of the inline stores. Boston-based New England Development obtained approvals to demolish the interior mall section to make room for a 120,000-square-foot Wegmans, along with Petco and Dick’s Sporting Goods. The two existing anchors, Kohl’s and Marshalls, remained.

A real estate industry source estimated the likely purchase price at $85 million.

The neighborhood near I-93 has seen an uptick in development activity in recent years. Lumiere, a 163-unit apartment complex at 3780 Mystic Valley Parkway, was completed in 2014 and acquired by Guardian Life Insurance Co. in 2016 for $66.8 million.

And a Texas developer recently broke ground on a 350-unit apartment complex at 61 Locust St., directly across from Meadow Glen. The Hanover Co. acquired the property, which housed a Shaw’s Supermarket which closed in 2014, last year for $25.7 million.