Built in 1987, Barn Plaza is owned by Plymouth Meeting, PA-based Kramont Realty Trust. It has 19 tenants, including a 35,700-sf Marshall's, an Eckerd Drug store, Rockaway Bedding and The Coffee Beanery. A 14-screen Regal Cinema, an Applebee's and Friendly's are located on an outparcel along the Route 611 location. The Kohl's lease will take Barn Plaza to 100% occupancy.
Terms and rental rate were not disclosed.
Meanwhile, an 85,899-sf Wal-Mart opens at another Kramont property, the 387,000-sf Bethlehem Square in Bethlehem, PA. Wal-Mart acquired the space once leased by Bradlees and vacant since fall 2000. This brings Bethlehem Square to 100% occupancy.
Again, terms and rental rate were not disclosed. In a statement, however, Louis P. Meshon, Sr., president and chief executive officer of Kramont, says Bethlehem Square currently has annual sales of $346 per sf, "well above the national average of $260 per sf.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
