PREIT announces its proactive efforts to replace Sears stores in Capital City, Magnolia and Woodland Malls

PHILADELPHIA, 2017-Jan-05 — /EPR Retail News/ — PREIT (NYSE: PEI) released comments today (Jan. 4, 2017) on its proactive effort to replace Sears and the anticipated closures of three stores in its portfolio in 2017 (Capital City, Magnolia and Woodland Malls): “These store recaptures are an opportunity to continue to enhance the shopper experience, drive […]

PREIT announces ULTA Beauty and DSW stores at Mall at Prince Georges in suburban Washington, D.C.

Leases executed with beauty & footwear retailers to augment remerchandising efforts PHILADELPHIA, 2016-Nov-16 — /EPR Retail News/ — PREIT (NYSE: PEI) announced it has executed leases with two exciting retailers- ULTA Beauty and DSW –as part of its $30 million remerchandising and renovation program at Mall at Prince Georges in suburban Washington, D.C. An 11,000-square […]

PREIT brings fashion retailer Zara to Cherry Hill Mall, Philadelphia

PHILADELPHIA, 2016-Nov-02 — /EPR Retail News/ — PREIT (NYSE: PEI) today (Nov. 1, 2016) announced a newly executed lease with Zara, one of the largest international fashion retailers, at Cherry Hill Mall. This is a first-to-portfolio retailer for PREIT and Zara’s first location in suburban Philadelphia. Zara will occupy approximately 26,000 square feet of space […]

PREIT announces the grand opening of Saks Fifth Avenue OFF 5TH at Springfield Town Center in Springfield, VA

PREIT announces the grand opening of Saks Fifth Avenue OFF 5TH at Springfield Town Center in Springfield, VA   PHILADELPHIA, 2016-Sep-16 — /EPR Retail News/ — PREIT (NYSE: PEI) today (Sept. 15, 2016) announced the grand opening of Saks Fifth Avenue OFF 5TH at Springfield Town Center in Springfield, VA. The luxury-value retailer occupies 30,000 […]

PREIT closes sale of two street-level retail properties in downtown Philadelphia for approximately $20 million

PHILADELPHIA, 2016-Jun-07 — /EPR Retail News/ — PREIT (NYSE: PEI) has completed the transactions for the sale of two street-level retail properties 1501 – 05 Walnut Street and 1520 – 22 Chestnut Street  in downtown Philadelphia, representing a gain on sale of approximately $20 million and a blended 3.9% cap rate. PREIT acquired the properties in […]

PREIT refinanced the mortgage loan secured by Woodland Mall

Company to recognize significant savings PHILADELPHIA, 2016-Apr-21 — /EPR Retail News/ — PREIT (NYSE: PEI) has completed the refinancing of the mortgage loan secured by Woodland Mall and extended and modified the terms of the existing mortgage loan secured by Viewmont Mall.  The LIBOR-based loans total $187.0 million and carry a fixed weighted average interest rate […]

PREIT announces DICK’S Sporting Goods and Field & Stream to open at Viewmont Mall in Scranton, PA

Transaction reinforces PREIT’s proficiency in proactively replacing anchors PHILADELPHIA, 2016-Apr-12 — /EPR Retail News/ — PREIT (NYSE: PEI) today announced a lease has been executed that will bring DICK’S Sporting Goods and Field & Stream to Viewmont Mall in Scranton, PA. The dual store format concept will replace the existing Sears at the property in 90,000 […]

PREIT and ChargeItSpot provide consumers with free phone charging in secure lockers while shopping

Consumers from Michigan to Virginia Now Enjoying “Stress-Free” Shopping at PREIT Malls More than 8,400 shoppers used the free service during its initial deployment in December 2015 PHILADELPHIA, 2016-1-12 — /EPR Retail News/ — Two Philadelphia-based companies have teamed up to offer mall-goers a better shopping experience. PREIT (www.preit.com), a publicly traded REIT specializing in the […]

LEGOLAND Discovery Centers to open at PREIT’s Plymouth Meeting Mall in Spring 2017

Pennsylvania’s popular family attraction to open in Spring 2017 PLYMOUTH MEETING, Pa., 2015-12-8 — /EPR Retail News/ — LEGOLAND Discovery Centers, unique indoor attractions based on the popular LEGO® brick, will begin construction next summer on LEGOLAND® Discovery Center Philadelphia at PREIT’s Plymouth Meeting Mall. The 33,000 square foot attraction will be a premier destination for […]

PREIT completed the refinancings of Willow Grove Park and Springfield Mall

PHILADELPHIA, PA,  2015-9-25 — /EPR Retail News/ — PREIT (NYSE: PEI) has completed the refinancings of Willow Grove Park and Springfield Mall.  The loans total $202.5 million, at PREIT’s share, and carry a weighted average interest rate of 3.97%, generating proceeds of $38.1 million and future annual interest expense savings of approximately $2.5  million on the […]

Pennsylvania Real Estate Investment Trust completes the sale of Uniontown Mall in Uniontown, PA for $23.0 million

Sale marks the 7th non-core mall sold by PREIT PHILADELPHIA, PA, 2015-8-6— /EPR Retail News/ — Pennsylvania Real Estate Investment Trust (NYSE: PEI) announced today that it has completed the sale of Uniontown Mall in Uniontown, PA for $23.0 million.  The buyer also separately acquired the fee interest in the ground underlying the mall from […]

Pennsylvania Real Estate Investment Trust to sell three malls to an institutional buyer

PHILADELPHIA, 2015-7-30 — /EPR Retail News/ — Pennsylvania Real Estate Investment Trust (NYSE: PEI) announced today that it has entered into an Agreement of Sale for three malls to an institutional buyer.  The assets under agreement of sale, which are subject to customary closing conditions, are: Gadsden Mall in Gadsden, AL, Wiregrass Commons Mall in […]