PHILADELPHIA, PA – Publically-traded REIT, PREIT closed 2021 with core mall rolling 12-month sales totaling $603 per-square-foot.
PREIT's properties emerged with new anchors and a strong, existing tenant mix, while many companies struggled following lockdowns.
The REIT's Patrick Henry Mall, Capital City Mall, Valley Mall and Viewmont Mall all experienced more than 20% growth in sales, compared to pre-pandemic levels. In terms of growth and absolute sales per square foot, PREIT's premier super-regional property, Cherry Hill Mall achieved nearly 28% growth to $936.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
