PHILADELPHIA, PA – PREIT has agreed to sell 11 outparcels and a vacant hotel land parcel for a total of $35 million.
The sale of the 11 outparcels will generate more than $32 million in gross proceeds for the firm.
The additional vacant parcel at Springfield Town Center in Springfield, VA sold for $2.5 million and will be developed into a hotel site. This transaction aligns with publicly-traded REIT's mission to deliver one-stop destinations in its communities.
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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.
