SCRANTON, PA—DICK'S Sporting Goods and Field & Stream will create a dual store format in PREIT's Viewmont Mall in Scranton, PA, replacing the existing Sears at the property in 90,000 square feet of space. Sears will close this July, with DICK's Sporting Goods and Field & Stream scheduled to open for business for the 2017 holiday shopping season.
Over the past several years, Viewmont Mall has been a main focus in PREIT's strategy to upgrade the quality of its tenant mix within its portfolio. Viewmont's remerchandising, which include the recent addition of national tenants Ulta, Buffalo Wild Wings, Forever 21 and Yankee Candle, set the stage for the second phase of redevelopment that will include the two stores.
PREIT pointed to the addition of DICK'S Sporting Goods and Field & Stream as evidence of the real estate investment trust's ability to proactively replace vacant anchors.
“We are pleased to continue the trend of improving our portfolio quality and mitigating our anchor risk,” said PREIT CEO Joseph F. Coradino. “As we strengthen the core of our portfolio, as we've done at Viewmont, we can see the path to achieving sales of $500 per square foot is well within our reach.”
SCRANTON, PA—DICK'S Sporting Goods and Field & Stream will create a dual store format in PREIT's Viewmont Mall in Scranton, PA, replacing the existing Sears at the property in 90,000 square feet of space. Sears will close this July, with
Over the past several years, Viewmont Mall has been a main focus in PREIT's strategy to upgrade the quality of its tenant mix within its portfolio. Viewmont's remerchandising, which include the recent addition of national tenants Ulta, Buffalo Wild Wings, Forever 21 and Yankee Candle, set the stage for the second phase of redevelopment that will include the two stores.
PREIT pointed to the addition of DICK'S Sporting Goods and Field & Stream as evidence of the real estate investment trust's ability to proactively replace vacant anchors.
“We are pleased to continue the trend of improving our portfolio quality and mitigating our anchor risk,” said PREIT CEO Joseph F. Coradino. “As we strengthen the core of our portfolio, as we've done at Viewmont, we can see the path to achieving sales of $500 per square foot is well within our reach.”
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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].
