PHILADELPHIA, PA—Pennsylvania Real Estate Investment Trust is selectively upgrading its properties with new anchors and other sought after tenants. The Company has executed new leases with retailers that will enhance the quality of its assets while driving sales and valuation.
"We have made tremendous progress in our efforts to improve portfolio quality,” says PREIT CEO Joseph Coradino. In addition to disposing of certain non-core malls, we are improving the mix of tenants at our properties. As of the end of August, PREIT had executed new leases with tenants for approximately 600,000 square feet of space."
Among the new anchor leases within the PREIT portfolio are the addition of Century 21 at The Gallery in Philadelphia; Dick's Sporting Goods at Valley View and Francis Scott Key Malls; and Burlington Coat Factory at North Hanover Mall.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
