Prior to Ames Department Store's liquidation at Bristol Commerce Park in Bristol, PA, Kramont executed a lease with Wal-Mart for the 118,000-sf Ames space. Wal-Mart will open there this July.
At 211,000-sf Barn Plaza in Doylestown, PA, the REIT recaptured underperforming supermarket space and negotiated a $2.6-million use-restriction fee from the unnamed tenant. In April, Kohl's will open an 88,000-sf store there, which represents a 57% increase in supermarket space at the center.
The Ames space at The Shoppes at Valley Forge in Phoenixville, PA, was also proactively recaptured to make way for a new 60,000-sf Redner's Warehouse Market, which will open in May. This shopping center has a total of 177,000 sf.
Having replaced a Bradlee's with an 86,000-sf Wal-Mart unit at the 387,000-sf Bethlehem Square center in Bethlehem, PA, last May, Kramont will replace an under performing supermarket there this summer with Giant Supermarket.
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