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 to release its financial results for the quarter ending September 30, 2016 on November 2, 2016

PHILADELPHIA, 2016-Sep-23 — /EPR Retail News/ — Pennsylvania Real Estate Investment Trust (PREIT/NYSE: PEI) intends to release its financial results for the quarter ending September 30, 2016 after market trading closes on Wednesday, November 2, 2016. Management has scheduled a conference call for 11:00 a.m. Eastern Time on Thursday, November 3, 2016, to review the […]

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 completes sale of Washington Crown Center in Washington, PA for $20 million

PHILADELPHIA, 2016-Aug-18 — /EPR Retail News/ — PREIT (NYSE: PEI) announced it has completed the sale of Washington Crown Center in Washington, PA.  The property was sold for $20.0 million. “We remain committed to crafting a strong portfolio of assets that are well-positioned for the future,” said Joseph F. Coradino, CEO of PREIT. “This commitment has […]

PREIT announces the grand opening of Primark at its Willow Grove Park Mall in Philadelphia

PHILADELPHIA, 2016-Jul-20 — /EPR Retail News/ — PREIT (NYSE: PEI) today announced the grand opening of Primark, a leading European fashion retailer, at its Willow Grove Park Mall in the Philadelphia suburb of Willow Grove, PA. This is the second Primark location in the Philadelphia region and the fifth in the Northeastern United States. Primark […]

PREIT: Beaver Valley Mall up for sale; Washington Crown Center in Washington, PA and office building at Voorhees Town Center sold

PHILADELPHIA, 2016-Jul-19 — /EPR Retail News/ — PREIT (NYSE: PEI) announced that it continues to drive the quality of its portfolio to new heights having executed agreements of sale and received non-refundable deposits for the sale of Washington Crown Center in Washington, PA and the office building it retained at Voorhees Town Center.  Details including pricing […]

PREIT launches shopper digital rewards program, PREIT Perks

PHILADELPHIA, 2016-Jun-22 — /EPR Retail News/ —  PREIT (NYSE: PEI) today announced the launch of a shopper digital rewards program, known as PREIT Perks, which will enable shoppers to earn credit on their purchases, as well as give retailers enhanced visibility into shopper behavior at PREIT malls. The program is debuting at the Cherry Hill Mall […]

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 to release its financial results for the quarter ending June 30, 2016 on Tuesday, July 26, 2016

PHILADELPHIA, 2016-Jun-07 — /EPR Retail News/ — Pennsylvania Real Estate Investment Trust (PREIT/NYSE: PEI) intends to release its financial results for the quarter ending June 30, 2016 after market trading closes on Tuesday, July 26, 2016. Management has scheduled a conference call for 11:00 a.m. Eastern Time on Wednesday, July 27, 2016, to review the Company’s results […]

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 achieves near-completion of its non-core mall disposition effort with the sale of four more malls

Accentuates successful disposition program and underscores strength of new platform Portfolio sales increase to $458 per square foot, increasing over 20% since 2012 PHILADELPHIA, 2016-Apr-02 — /EPR Retail News/ — PREIT (NYSE: PEI) today announced it has completed the sale of four additional non-core malls, a milestone achievement that signifies the near-completion of the Company’s non-core […]

PREIT sold its ninth lower-productivity mall since it started divesting non-core properties in late 2012

PHILADELPHIA, 2016-Mar-09 — /EPR Retail News/ — PREIT (NYSE: PEI) today announced that its recent sale of Palmer Park Mall marked the ninth lower-productivity mall sold by PREIT since having announced its plans to divest non-core properties in late 2012.   These properties generated average sales psf of $254 at the time of sale.  The Company also […]

Pennsylvania Real Estate Investment Trust declares quarterly cash dividend of $0.21 per common share

PHILADELPHIA, 2016-Feb-12 — /EPR Retail News/ — Pennsylvania Real Estate Investment Trust (NYSE: PEI) announced today that its Board of Trustees has declared a quarterly cash dividend of $0.21 per common share.  The dividend is payable on March 15, 2016 to common shareholders of record on March 1, 2016. The March 15th dividend payment will be […]

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 […]

Ron Rubin to step down as PREIT’s Executive Chairman

Ron Rubin will remain as Chairman of the Board PHILADELPHIA, 2016-1-6 — /EPR Retail News/ — PREIT (NYSE: PEI) announced that Ron Rubin will step down as the Company’s Executive Chairman, a role he’s held since 2012, effective June 7, 2016.  Mr. Rubin will continue in his role as Chairman of the Board. Joe Coradino, PREIT’s […]

PREIT to release its financial results for the quarter ending December 31, 2015 on February 23, 2016

PHILADELPHIA, 2015-12-17 — /EPR Retail News/ — Pennsylvania Real Estate Investment Trust (PREIT / NYSE: PEI) intends to release its financial results for the quarter ending December 31, 2015 after market trading closes onTuesday, February 23, 2016. Management has scheduled a conference call for 11:00 a.m. Eastern Time on Wednesday, February 24, 2016, to review the Company’s […]

PREIT: Dick’s Sporting Goods to open at Cumberland Mall in Vineland, New Jersey

Store will backfill former JC Penney location PHILADELPHIA, 2015-12-17 — /EPR Retail News/ — PREIT  (NYSE: PEI) announces its plans to open a Dick’s Sporting Goods at Cumberland Mall in Vineland, New Jersey. The sports and fitness retailer, which offers brand name, high-quality sporting equipment, accessories, apparel and footwear at competitive prices, will occupy the former […]

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 […]

Pennsylvania Real Estate Investment Trust (PREIT) declared $0.21 quarterly cash dividend per common share

PHILADELPHIA, 2015-10-26 — /EPR Retail News/ — Pennsylvania Real Estate Investment Trust (NYSE: PEI) announced today that its Board of Trustees has declared a quarterly cash dividend of $0.21 per common share.  The dividend is payable on December 15, 2015 to common shareholders of record on December 1, 2015. The December 15thdividend payment will be the […]

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 […]

Mobiquity Networks to provide beacon-based advertising services throughout PREIT’s portfolio of shopping centers in attractive U.S. markets

Introduction into PREIT’s portfolio of premier retail properties enhances Mobiquity Networks’ position as leader in beacon-based advertising services GARDEN CITY, N.Y., 2015-8-27— /EPR Retail News/ — Mobiquity Networks, a wholly owned subsidiary of Mobiquity Technologies, Inc. (OTCQB:  MOBQ), which powers a leading national location‐based mobile advertising and app engagement network, has partnered with Pennsylvania Real […]

PREIT announces new lease with Whole Foods Market to open at Exton Square Mall in Exton, PA

Addition will provide an extraordinary shopping experience PHILADELPHIA, PA, 2015-8-6— /EPR Retail News/ — PREIT (NYSE: PEI) announced a new lease with Whole Foods Market to open at Exton Square Mall in Exton, PA. The 55,000-square foot store will complement the plans to redevelop the property, bringing a unique and engaging shopping experience this part […]