A Kramont spokeswoman tells GlobeSt.com the Hillcrest Plaza sale did not include a freestanding Taco Bell restaurant, with about 2,200 sf. Kramont CEO Louis Meshon Sr. says Hillcrest mainly had small, local merchants, limiting the center's retail appeal, and offering the company minimal revenue-growth potential. One major change at Hillcrest was that a supermarket had vacated the 42,000-sf anchor spot, and last year it was converted into office space, the spokeswoman says. Kramont, based in Plymouth Meeting, PA, is a real estate investment trust that specializes in neighborhood and community shopping centers. The REIT owns, manages or has under development, 86 properties, with about 11.5 million sf, in 16 states.
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