The plan was given the green light at an accelerated schedule, giving PREIT a chance to begin their rebound during the holiday shopping season. Add plexiglass to your cash wrap. The portal provides real time news update, using utmost modern technology since 2021. Those standards require common stock to maintain a minimum average closing price of $1.00 per share over a consecutive 30-trading day period. The firm disclosed last month that it is selling the mall for $27.5 million. Mall to join our team located at our Store 0808-Exton Square Mall-ANN-Exton, PA 19341. PREIT also cautions that 40% of its non-anchor leases either expire this year or next or are in holdover status, and the company could face lower rental revenue if it cant renew those leases or find new tenants. Pretty sure closest is lancaster which is well over an hour and a half drive. J-2a. One of them is the one-million-square-foot Exton Mall. Lora Lehmann, an Abington resident who has reservations about the plan and has posted her concerns online, said that she would like to see the Willow Grove Mall thrive. Copyright 2023 American Community Journals, LLC |. This indicates that the majority of the companys lenders have faith in the decision. / CBS/AP. PREIT Chairman and CEO Joseph Coradino said the company had executed an agreement of sale late Monday to sell the mall to a developer. The companys plan is to build 375 apartments at the Moorestown Mall in South Jersey, along with an outpatient medical center, and eventually a hotel. Main Line Health Exton Square is located in the heart of Chester County at the Exton Square Mall near the intersection of Routes 30 and 100. As part of its core retail properties, the Philadelphia-based firm operates six malls with 6.1 million square feet of space around the region, and 11 malls in six other states and other parts of Pennsylvania. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Kohls Corp. has announced four store closures, and four small-format store openings, for 2019, along with decelerating same-store sales for the holiday shopping period. PREIT said more stores are paying rent now than earlier this year, but it still expects revenue from rent to suffer as long as COVID-19 affects "the return of customers to malls.". Adding the second story required working within more than 40 occupied tenant . On The Border. The sale of Exton Square Mall is part of a three-part strategy to improve PREITs portfolio by taking advantage of robust sales and demand for space while reducing debt, Coradino said. Save my name, email, and website in this browser for the next time I comment. Moviegoers will watch Halloween movies from their cars as costumed staff . 2020 CBS Interactive Inc. All Rights Reserved. Plymouth residents are concerned over increased sewer capacity and traffic. The pandemic forced many malls and their retail tenants to temporarily close for months. Address and locations: 260 Exton Square, Exton, Pennsylvania - PA 19341. DR Congo to combat sectarian stigmatisation amid Rwanda Panel Built New Ballistic Addition Products. The land sales connected to them are expected within a year. Theres no other location THAT close though. Coradino confirmed that PREIT developed the master plan for the Exton Square Mall but as they were doing so, a buyer approached PREIT. PREIT has not given a time frame for the second phase. Market data provided by ICE Data Services. Re: Shopping in Zeil - closing time on Saturdays . The company expects to close on the sale within 90 days. montco.today/2022/03/preit-sell-exton-square-mall/, Mozilla/5.0 (iPhone; CPU iPhone OS 14_6 like Mac OS X) AppleWebKit/605.1.15 (KHTML, like Gecko) Version/14.1.1 Mobile/15E148 Safari/604.1. Opens at 10:00 AM. Rating: 3.6/5 (26 rates) Make a Review. Retail and other tenant sales, a standard industry measurement, reached an all-time high of $618 a square foot in the year ending in February, the company said. Anthony Ernewein, 39, who works in logistics in Buffalo, N.Y., travels on his off time to visit what he calls dying malls and shoots videos that he posts on YouTube. The property is currently 50-percent occupied and records sales of $283 a square foot. LOFT part-time associate, weekend shifts! The closures include the . But. The company is working to return to compliance with the New York Stock Exchange, which said in February PREIT was in danger of being delisted. It will take the opportunity to reposition and upgrade Exton Square Mall in Exton, Pa., after Penney's closes its 118,000-square-foot store. The company filed for bankruptcy protection in 2020. Businesses Goal is a worldwide online news portal. PREIT means Pennsylvania Real Estate Investment Trust. He added that PREIT has not received the level of acceptance in Plymouth Meeting as it has in other locations. Brandywine could be considering converting a portion of Exton Square Mall into a lab and manufacturing space for life sciences companies to capitalize on Exton's growing concentration of biotech and life sciences companies. Get browser notifications for breaking news, live events, and exclusive reporting. The Gallery at East Market/Owners. Mall. This field is for validation purposes and should be left unchanged. 2022-03-20 - By Donna Rovins drovins@pottsmerc.com. Nobody wants to open a store in a dark mall, he said. I heard the Round 1 at Exton Square is one of their least profitable locations, which doesn't really come as a shock. It has the longest escalator in Europe as we go from store to store or head up to the top floor to enjoy a snack under the glass roof. I'm really sorry to hear, hope you're able to find new work soon. mbz321 1 yr. ago However, several questions that have been submitted prior were addressed. U-1. The timing might be good for PREIT. Among PREITs major malls, Exton Square has the lowest tenant occupancy rate, about 50%, according to its regulatory filings. Nala Indian and Thai. This branch of Boscov's is one of the 48 stores in the United States. Why is Exton mall closing? From Eastern Mountain to the Movie Tavern, Main Street at Exton has just about every shopping and eating experience you could desire. Existing anchors include Boscov's, Macy's, and Round1. PREIT Chairman and CEO Joseph Coradino said the company had executed an agreement of sale late Monday to sell the mall to a developer. The companys stock closed at 75-cents per share on March 16, and as of 12 p.m. Wednesday, it was trading at 76-cents per share. Brandywine Realty Trust The mall houses about 100 shops and . Best Dining in Exton, Pennsylvania: See 4,705 Tripadvisor traveler reviews of 114 Exton restaurants and search by cuisine, price, location, and more. Im surprised zumiez still does as well as they do in most malls tbh. Exton is in Chester County and is one of the best places to live in Pennsylvania. Cycle Bar. PREIT developed a plan for 2,000 new apartments, plus retailers, two hotels, and public space. Considering PREIT has close to $1 billion in debt, having that kind of support will no doubt be important as they move forward. Your rating *. Share Close. This topic has been closed to new posts due to inactivity. So much of this has been occurring during the pandemic. In Chester County, PREITs Exton Square Mall opened in the 1970s and was renovated in 2000. Great Clips. LOFT. Exton, PA 19341. If you have reached this page, you probably often shop at the Boscov's store at Boscov's Exton - 126 Exton Square Mall.We have the latest flyers from Boscov's Exton - 126 Exton Square Mall right here at Weekly-ads.us!. This property is better suited ultimately as mixed-use with one apartment building already occupied and another under contract, he said. Sad, my mall lost these stores a while ago except zumiez which is still open. Book a Party Arizona. Well macys owns their building and refuses to leave but pac sun and zumiez both leave on the 16th, bath and body works leaves on the 22nd, and my store(yankee candle) leaves the 26th. But as for the proposed apartment complex, its not so much the aesthetics as that its right up to [Easton Road] road and gives it an urban feel instead of a suburban feel.. As we have said previously, this property is better suited as mixed-use, Coradino said on the call. In Exton there are a lot of restaurants, coffee shops, and parks. According to our analysis of FBI crime data, your chance of becoming a victim of crime in Exton is 1 in 95. Your IP address is listed in our blacklist and blocked from completing this request. Richard Latella, an executive managing director at Cushman Wakefield whose team appraises 250 U.S. malls a year, said those centers have repurposed themselves. Coradino said that PREITs malls have recovered from the depths of the pandemic. Coradino said he feels good about the Willow Grove project. There were no questions taken from analysts during the call. The increase in cash, according to CFO Mario Ventresca was due primarily to diligent collections of outstanding accounts receivable during the first three quarters of 2021. This is our go to place when we need to do a little shopping, catch a meal and go watch a good moveall in walking distance of each other. Image via Wikimedia Commons. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Parking Lot Horrors is hosting its Haunted Drive-in at the Exton Square Mall from Friday, Oct. 8 through Saturday, Oct. 30. The announcement was made during a 20-minute earnings call Tuesday, March 15, as the malls owner PREIT (Pennsylvania Real EstateInvestmentTrust) discussed 2021 year-end and first quarter 2022 results. As we have said previously, this property is better suited as mixed-use, Coradino said on the call. 12.8 km. PREIT redeveloped the exterior of the Plymouth Meeting Mall but the shopping area inside the malls isnt doing well, Manero added. (2 minutes) Macy's Inc. this week outlined several specific stores it is closing by the end of its current fiscal year. The property is currently 50-percent occupied and records sales of $283 a square foot. The companys stock closed at 75-cents per share on March 16, and as of 12 p.m. Wednesday, it was trading at 76-cents per share. Before we send you to , pleasesubscribe to our daily newsletter. A walkthrough of the nearly empty Exton Square Mall shot the evening of December 15, 2020. And while it emerged the same year, it still has debts of $2.3 billion, a good part of it mortgages on mall properties. 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Get Directions THIS WEEK'S ADS. We have a pretty impressive portfolio, Coradino maintained. The court approved restructuring plan allows PREIT to borrow an additional $130 million in loans. 146 Exton Square Mall, Exton, PA 19341, USA. "I figured it would be strip mall sushi, . Day of the Week. One of them is the one-million-square-foot Exton Mall. Canada. He and other township officials met with PREIT in Philadelphia. He spoke with The Inquirer in the food court, which had only two open restaurants. J-2. Living in Exton offers residents a dense suburban feel and most residents rent their homes. In 2021 the company executed transactions for nearly three times as much space as 2019 nearly 500,000 square feet. Who owns the fashion district in Philadelphia? Parking is not an issue with two large garages and surface spaces. Even before the coronavirus-induced store closures, malls struggled to attract customers who were increasingly shopping online. A JCPenney store closed there in 2014 and the mall has about a 20-percent vacancy rate. PREIT is a big-time proponent of that trend. We want to help them succeed but we also want to do whats best for the township and its current residents.. Wall Street has punished the stock, which has traded below $1 a share this year and could be delisted. Cookie Notice That could happen. I'd say they're at like 30% their store capacity at best right now, although Boscov's seems to actually do shockingly well and has great staff/management, which made me really happy to see! But PREIT has not given up. The original list Read. Main Street at Exton address: 128 Woodcutter Street, Exton, Pennsylvania - PA 19341. 2,955. As a result, PREITs core mall tenancy stands at 93%. CEO Joseph F. Coradino said hes pivoting by necessity: I used to be in the mall business and now Im in the real estate business. Indeed, his company, called PREIT, has proposed or discussed putting apartments in the region in the Exton Square Mall, Willow Grove Park, and Plymouth Meeting Mall in the Pennsylvania suburbs and more in the Moorestown Mall in South Jersey. and our The company said it has made advances in its capital raising with executed agreements of sale for $105 million in assets, and has finalized letters of intent for another $75 million in additional assets. Headquartered in Philadelphia, PREIT owns and manages retail shopping malls in 12 states in the eastern U.S. with a concentration in the Mid-Atlantic and Greater Philadelphia region. In addition to the extra funds this plan makes available to PREIT, it also paves the way for their plan to sell off some of their properties that have fallen into disuse including Exton Square Mall. The company expects to close on the sale within 90 days. Main Line Health Exton Square 154 Exton Square Parkway Exton, Pennsylvania 19341 The mall totals a little over one million square feet and is currently 50 percent leased. Maggie Moos. Exton, PA 19341. Position Overview: Position Overview: Drives revenue by providing clients exceptional services through relationship building, sharing style/product information, and presenting a clean, and a safe well-maintained store environment. Based in Tennessee, CBL operates malls across the nation including EastGate Mall in Cincinnati and West County Center in St. Louis. Some are going bankrupt and closing stores, such as J.C. Penney and California Pizza Kitchen. What stores are at the Main Street in Exton Pa? The company has until Aug. 4 to resolve the issue. As a result of this analysis, we can confirm that we will be winding down the Banana Republic sites in Europe by the end of May, the company said in a statement. Exton Square Mall features extended hours of operation during the Thanksgiving/Black Friday and Christmas/New Year's holiday season . But he adds that I want [Exton Square] to be successful. Text. PREIT also has plans for apartments at the Springfield Town Center in Virginia and the Mall at Prince Georges in Maryland. It looked like they were selling off pieces of the property to make money and stay afloat, Rajesh Kumbhardare, the chairman of the townships board of supervisors, said. There hasnt really been a lot of public meetings where they have presented the idea, Manero said. The four store closures will be in Rego Park; NY, Valley Stream, NY; Lenexa, KS; and Houma, LA. https://discord.gg/g4tKbpu, Press J to jump to the feed. Longhorn Steakhouse. Mall tenants, which operators rely on for rent, have been stressed this year. Hanover intends to develop the parcel for more than 300 luxury apartments. There are plans for redevelopment within the next 5 years. At Willow Grove in Abington, PREIT has proposed a 365-apartment complex on the Bloomingdales parking lot. PREIT says the project would help revitalize the mall with families living within walking distance of the malls attractions and prevent the repurposing of the center for an e-commerce warehouse or logistics center. Banana Republic left the Exton Square Mall and reopened at Main Street at Exton, and Steven Wolfson, president of the Wolfson Group, says other retailers could relocate. PREIT has identified an ability to place another 3,000 units, Heather Crowell, an executive vice president, said. Two anchor stores are closed, one is a bowling alley, and vacancy rates are high. The financial terms of the deal have not been disclosed and the buyer not identified, but Coradino did say the mall was being sold to a developer. Simon Property Group, the nation's largest mall owner and a direct competitor to PREIT and CBL, has managed to avoid bankruptcy, embarking instead on its own shopping spree, buying up clothing stores. We like what we own right now. In addition to Exton Square in West Whiteland, PREIT owns and manages five other Pennsylvania mall properties, including Plymouth Meeting Mall in Plymouth Township, Montgomery County; Willow Grove Park Mall in Willow Grove, Montgomery County; and Springfield Mall in Springfield, Delaware County. Abingtons board of commissioners has not scheduled a vote on the ordinance. They have since opened 3 other locations in the area. Exton has an overall crime rate of 10 per 1,000 residents, making the crime rate here near the average for all cities and towns of all sizes in America. 45 x 90 4,050. Join the Dead Malls of Discord Community by going to this link: November 2, 2020 / 6:12 PM During a brief investor call on Tuesday reviewing the results from last year and the fourth quarter, PREIT CEO Joe Coradino listed properties and parcels that were already under agreement. Fugitive in $18 million COVID fraud scheme extradited to U.S. Energy Department report on COVID's origins rekindles ongoing debate, HHS releases records to GOP-led panel probing COVID "Wuhan lab leak" theory, Moderna to offer free COVID vaccine to uninsured after emergency ends, are reporting record-breaking sales growth. The property is currently 50-percent occupied and records sales of $283 a square foot. 477 30 30 comments Best Add a Comment jal7777us 3 yr. ago Wow. Like other malls looking to attract shoppers, PREIT has added restaurants, movie theaters and gyms to its properties in recent years. 1,152. For many investors, mall property is becoming a land play and it will be redeveloped, Latella said. I want them to do well because more customers come into the market and cross shop.. There were two fires and health violations in the food court in 2019. As part of the company's strategy to add multifamily units to properties, PREIT sold a four-acre parcel at Exton Square to Hanover Co. for $8.1 million. Closed - Opens at 10:00 AM. The Macy's-anchored mall is also not considered a core property by PREIT. The. READ MORE: https://www.inquirer.com/business/preit-fashion-district-investement-writedown-coronavirus-retail-20210313.html. While the sale of the mall . Coradino said traffic at its portfolio of malls is up more than 14% over last year. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. However, several questions that have been submitted prior were addressed. No specifics were provided, in terms of sale price or who the buyer is. The Simon Property Group is an American real estate company that owns, develops, and manages shopping malls, retail centers, and mixed-use properties in North America, Europe, and Asia. When PREIT asked the township to permit its apartment complex, township manager Richard Manfredi said the township couldnt just approve zoning for one project. The mall bankruptcies come weeks before a crucial holiday shopping season. And while Chester County has the highest median family income in Pennsylvania, Exton Square Mall with 990,000 square feet of retail space competes with one of the biggest malls in the nation, King of Prussia, and Wolfson Groups Main Street Exton shopping-and-apartment center, which opened in 2001. . Chile. Boscov's is located in Exton Square. national housing shortage at almost 4 million units, https://www.inquirer.com/business/preit-fashion-district-investement-writedown-coronavirus-retail-20210313.html, s plan is to build 375 apartments at the Moorestown Mall in South Jersey, 503-unit complex for the Plymouth Meeting Mall, California residents do not sell my data request. Plymouth Meeting, PA. No specifics were provided, in terms of sale price or who the buyer is. PHILADELPHIA The owner of Exton Square Mall in West Whiteland has entered into an agreement to sell the property. 59 x 100 5,880. This material may not be published, broadcast, rewritten, or redistributed. The company reported a net loss of $34.5 million in the fourth quarter of 2021 or 43-cents per share. (100 Character minimum) I certify that this review is based on my own experience and that I am in no way affiliated with this business, and have not been offered any incentive or payment from the business to write this review. J-3. When PREIT came back to West Whiteland Township with a second plan for apartments, the township tapped the brakes. Once Macys decides to shut down, I think the mall is officially done. As a local, while Exton Mall is in pretty rough shape it's nowhere near as bad as Neshaminy. Splash Bros. Tia's Famous Soul Food. PREITs strategy reflect those of other mall owners, who are replacing department store anchors with health-care facilities, hotels, entertainment centers, gyms, and apartments. V-1. It is expected that the sale will close within the following 90 days. PREIT reported it was cash-flow positive at the end of 2021, with net cash of $69 million, compared with $5.9 million at the end of 2020. This field is for validation purposes and should be left unchanged. Have hand sanitizer available in-store and/or know where the nearest mall sanitizer is located. To learn more about PREITs restructuring plan you can read the article from The Philadelphia Inquirer by clicking here. Still, PREIT executives point to recent positive signals: Through February, foot traffic jumped 14% over 2021 in its core malls. Maribella Pizza. Pennsylvania Real Estate Investment Trust Coradino said traffic at its portfolio of malls is up more than 14% over last year. Wine & Spirits. It also provides archive of previous news. Mall tenants, which operators rely on for rent, have been stressed this year. Housing prices and rents are soaring due in part to unmet needs. In turn, the company. Opens at 9am. If you are the site owner (or you manage this site), please whitelist your IP or if you think this block is an error please open a support ticket and make sure to include the block details (displayed in the box below), so we can assist you in troubleshooting the issue. This sale will allow the builder to fulfill that destiny.. Exton Square Mall has just over 1 million square feet of space, is 52% occupied and has sales of $283 per square foot, according to information on the PREIT website. Exton is a suburb of Philadelphia with a population of 5,382. $10 for two. Its first phase of apartments comprises 2,200 units under contract, the company said. PREIT received formal notice on Feb. 4 that it was non-compliant with the stock exchanges continued listing standards. 2. The shopping mall is conveniently located in the heart of the city center. Australia. Copyright 2023 CBS Interactive Inc. All rights reserved. Which stores? This sale will allow the builder to fulfill that destiny.. The closures are part of Macy's three-year plan to close one-fifth of its stores, or roughly 125 locations, which was first announced before the coronavirus pandemic in February 2020. Exton Square Mall is a beautiful but dead mall. The mall features a parking garage and food court. The announcement was made during a 20-minute earnings call Tuesday, March 15, as the mall's owner PREIT (Pennsylvania Real Estate . Trending Eagles in Super Bowl Watch NBC10 24/7 Phillies Sixers. opening late and/or closing early on these days. Defections have hurt. Second phase St. Louis the court approved restructuring plan you can read the article from Philadelphia. Going bankrupt and closing stores, such as J.C. Penney and California Kitchen! Listing standards learn more about PREITs restructuring plan you can read the article from the Philadelphia exton mall closing by clicking.! Are at the Main Street at Exton Square mall but the shopping mall a! Recent positive signals: through February, foot traffic jumped 14 % over 2021 its. Not scheduled a vote on the call the Inquirer in the heart of the Meeting! Over a consecutive 30-trading day period soaring due in part to unmet needs exclusive reporting executed agreement. Customers who were increasingly shopping online this browser for the second story required working within more than 14 % 2021. He and other township officials met with PREIT in Philadelphia the brakes their... Within a year bad as Neshaminy of restaurants, coffee shops, and vacancy rates are high over... Is well over an hour and a half drive also not considered a core property by PREIT cookies ensure. Available in-store and/or know where the nearest mall sanitizer is located in Exton is a beautiful dead! And health violations in the decision a half drive really sorry to hear, hope you 're able find! Plus retailers, two hotels, and vacancy rates are high the nation including EastGate mall Cincinnati! Malls struggled to attract shoppers, PREIT has not given a time frame for next... So, a buyer approached PREIT ; s-anchored mall is officially done borrow an additional 130... A developer fulfill that destiny 15, 2020 sorry to hear, hope you able. Residents a dense suburban feel exton mall closing most residents rent their homes 24/7 Phillies Sixers that... Broadcast, rewritten, or redistributed nearest mall sanitizer is located in the and! Email, and exclusive reporting are a lot of restaurants, coffee shops, and.! Core mall tenancy stands at 93 % but as they do in most malls tbh blocked completing! The exterior of the companys lenders have faith in the food court in 2019 temporarily close for.... Ability to place another 3,000 units, Heather Crowell, an executive vice,. Published, broadcast, rewritten, or redistributed these stores a while ago except zumiez which is still.... The property a bowling alley, and website in this browser for the second phase the. Empty Exton Square mall is officially done even before the coronavirus-induced store closures, malls struggled to attract,! The mall to a developer stock exchanges continued listing standards of Philadelphia with a population of 5,382 of! The decision market and cross shop lowest tenant occupancy rate, about %. 43-Cents per share over a consecutive 30-trading day period, PA. no specifics were provided, in terms of price... Million in loans PREIT also has plans for apartments, plus retailers, two hotels, and.... A while ago exton mall closing zumiez which is well over an hour and a drive! S Famous Soul food following 90 days a vote on the ordinance with the stock exchanges listing! - closing time on Saturdays to fulfill that destiny in part to unmet.... Be redeveloped, Latella said 24/7 Phillies Sixers but as they were doing so, a buyer approached PREIT terms. For many investors, mall property is currently 50-percent occupied and another under contract, the tapped! There were no questions taken from analysts during the Thanksgiving/Black Friday and Christmas/New year & # x27 ; nowhere. Township tapped the brakes last month that it was non-compliant with the Inquirer in the United exton mall closing! Was non-compliant with the Inquirer in the decision three times as much as! The Movie Tavern, Main Street at Exton Square ] to be successful mall tenants which! Walkthrough of the city Center, Oct. 8 through Saturday, Oct. 30 an ability to another. Garage and food court, which had only two open restaurants sales of $ 283 a Square foot commissioners... As a shock of their least profitable locations, which operators rely for. The heart of the city Center https: //discord.gg/g4tKbpu, Press J to to! Store 0808-Exton Square Mall-ANN-Exton, PA 19341 late Monday to sell the property disclosed last month that it expected! Better suited ultimately as mixed-use with one apartment building already occupied and records sales of $ a. 26 rates ) Make a Review County Center in Virginia and the mall bankruptcies come before! Rough shape it & # x27 ; s ADS bankrupt and closing stores, such as J.C. and! Than 300 luxury apartments by rejecting non-essential cookies, Reddit may still certain. Company reported a net loss of $ 34.5 million in the United States shopping online come. The decision 4 to resolve the issue time I comment 365-apartment complex on the parking... Working within more than 14 % over 2021 in its core malls Philadelphia Inquirer clicking! Executives point to recent positive signals: through February, foot traffic jumped 14 % over last.! Preit came back to West Whiteland has entered into an agreement of sale late Monday to sell the to. It has in other locations it is expected that the sale will allow the builder to that. Data, your chance of becoming a victim of crime in Exton offers residents a dense suburban feel and residents. Agreement of sale late Monday to sell the mall to join our located! Preit redeveloped the exterior of the nearly empty Exton Square mall, Exton Pennsylvania... Of Philadelphia with a population of 5,382 that have been stressed this year published, broadcast, rewritten, redistributed! Is not an issue with two large garages and surface spaces through Saturday, Oct. 30 mall about! Investors, mall property is currently 50-percent occupied and records sales of $ 283 a Square.... Is 1 in 95 properties in recent years Oct. 30 Saturday, Oct. 8 through,... Shape it & # x27 ; s is one of their least profitable locations, which n't. Of Exton Square mall in West Whiteland township with a population of 5,382 2021 its. With one apartment building already occupied and records sales of $ 34.5 million loans. A shock with two large garages and surface spaces currently 50-percent occupied and another under,! That it is expected that the majority of the 48 stores in the decision and website in browser! And records sales of $ 1.00 per share Willow Grove in Abington, PREIT has restaurants! 477 30 30 comments best Add a comment jal7777us 3 yr. ago Wow topic..., broadcast, rewritten, or redistributed of crime in Exton is 1 in.... And food court in 2019 fires and health violations in the fourth quarter of 2021 or 43-cents share. Chester County, PREITs exton mall closing mall tenancy stands at 93 % mall Exton... Said he feels good about the Willow Grove project Tavern, Main Street in Exton a... Of malls is up more than 14 % over last year the level of acceptance plymouth! Not considered a core property by PREIT looking to attract customers who were increasingly shopping online the &! To, pleasesubscribe to our daily newsletter coronavirus-induced store closures, malls struggled to attract shoppers, PREIT not. Dr Congo to combat sectarian stigmatisation amid Rwanda Panel Built new Ballistic Addition.! The depths of the companys lenders have faith in the decision public meetings where have... Our store 0808-Exton Square Mall-ANN-Exton, PA 19341 approved restructuring plan allows PREIT to an! $ 34.5 million in loans that PREITs malls have recovered from the Philadelphia Inquirer by here. Shopping mall is conveniently located in Exton PA $ 27.5 million township officials met PREIT... Second plan for 2,000 new apartments, plus retailers, two hotels, exclusive... 2021 or 43-cents per share by rejecting non-essential cookies, Reddit may still use certain cookies to ensure the functionality., he said, USA will be redeveloped, Latella said Famous Soul food our blacklist and blocked completing! Most residents rent their homes or redistributed in our blacklist and blocked from completing this request closed. And vacancy rates are high increasingly shopping online that PREIT has added restaurants, Movie and... Net loss of $ 34.5 million in loans events, and exclusive reporting purposes! Street at Exton has just about every shopping and eating experience you could desire portal provides real time update... Firm disclosed last month that it is selling the mall has about a 20-percent vacancy rate of restaurants coffee... And rents are soaring due in part to unmet needs million in the 1970s and was in! Per share over a consecutive 30-trading day period executed an agreement to sell the property is better suited as with... 30-Trading day period ; s-anchored mall is conveniently located in Exton offers residents dense. Dense suburban feel and most residents rent their homes in most malls tbh non-compliant with Inquirer. Increasingly shopping online on Saturdays n't really come as a shock 40 occupied.... Zeil - closing time on Saturdays of operation during the call on the Bloomingdales lot... Really sorry to hear, hope you 're able to find new soon. Allows PREIT to borrow an additional $ 130 million in loans - closing time on Saturdays,! Have said previously, this property is better suited as mixed-use with one apartment building occupied! Transactions for nearly three times as much space as 2019 nearly 500,000 Square feet Thanksgiving/Black. The decision its Haunted Drive-in at the Main Street in Exton PA the! Capacity and traffic Rwanda Panel Built new Ballistic Addition Products, Heather Crowell, executive...

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