As we have said previously, this property is better suited as mixed-use, Coradino said on the call. There are plans for redevelopment within the next 5 years. Day of the Week. I remember when this place was alive and vibrant. A lot of tenants are not stores but local organizations and healthcare. With coronavirus cases rising, malls will need to limit crowds during what is traditionally their busiest time of the year. But PREIT faces epic challenges as it seeks zoning approvals in suburban municipalities where officials are concerned about sewer capacity, traffic, population density, burdens on local schools, and the broader vision for the properties. Anthony Ernewein, 39, who works in logistics in Buffalo, N.Y., travels on his off time to visit what he calls dying malls and shoots videos that he posts on YouTube. Phone number: (610) 277-8899. Coffee Beanery-Coffee and Tea. Popular restaurant types near me. Mall. The Macy's-anchored mall is also not considered a core property by PREIT. 146 Exton Square Mall, Exton, PA 19341, USA. Text. J-3. Pennsylvania Real Estate Investment Trust Exton, PA 19341. Before we send you to , pleasesubscribe to our daily newsletter. Along with the Penney's closing, it plans to . MacerichPennsylva Real Estate Investment Banana Republic left the Exton Square Mall and reopened at Main Street at Exton, and Steven Wolfson, president of the Wolfson Group, says other retailers could relocate. Re: Shopping in Zeil - closing time on Saturdays . Closed - Opens at 10:00 AM. Read more about the sale in the Philadelphia Business Journal. Barn-1 World of Beer. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Brandywine Realty Trust This topic has been closed to new posts due to inactivity. PREIT has not given a time frame for the second phase. Housing prices and rents are soaring due in part to unmet needs. 45 x 90 4,050. Lora Lehmann, an Abington resident who has reservations about the plan and has posted her concerns online, said that she would like to see the Willow Grove Mall thrive. Donna Rovins is the regional business editor, covering local businesses and business issues across Montgomery, Chester and Berks counties. PREIT Chairman and CEO Joseph Coradino said the company had executed an agreement of sale late Monday to sell the mall to a developer. At Willow Grove in Abington, PREIT has proposed a 365-apartment complex on the Bloomingdales parking lot. 1,152. 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After failing to get 100% of their lenders to approve of their restructuring plan, PREIT prepared to take the matter to court earlier this year and received approval for their plan at the end of November. The announcement was made during a 20-minute earnings call Tuesday, March 15, as the mall's owner PREIT (Pennsylvania Real Estate . Report inappropriate content . Well macys owns their building and refuses to leave but pac sun and zumiez both leave on the 16th, bath and body works leaves on the 22nd, and my store(yankee candle) leaves the 26th. In Chester County, PREITs Exton Square Mall opened in the 1970s and was renovated in 2000. There were no questions taken from analysts during the call. Exton Sq Mall & County Library. Lehmann also has concerns that approving the mall would open the door to other apartments in the Willow Grove Park area. Can you put a single curtain panel on a window? By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Trending Eagles in Super Bowl Watch NBC10 24/7 Phillies Sixers. Exton Square Mall, Chester County. J-1. The companys plan is to build 375 apartments at the Moorestown Mall in South Jersey, along with an outpatient medical center, and eventually a hotel. Join the Dead Malls of Discord Community by going to this link: It is expected that the sale will close within the following 90 days. Coradino said traffic at its portfolio of malls is up more than 14% over last year. Though PREIT had needed 100% of their lenders to approve of their initial plan, it was only one lender who holds 5% of PREITs debt who held out on making it unanimous. This property is better suited ultimately as mixed-use with one apartment building already occupied and another under contract, he said. Read more about the sale in the Philadelphia Business Journal. If you have reached this page, you probably often shop at the Boscov's store at Boscov's Exton - 126 Exton Square Mall.We have the latest flyers from Boscov's Exton - 126 Exton Square Mall right here at Weekly-ads.us!. VISTA CareersDunwoody Village is Looking to Hire for These Following Positions. Apr 25, 2022. And while Chester County has the highest median family income in Pennsylvania, Exton Square Mall with 990,000 square feet of retail space competes with one of the biggest malls in the nation, King of Prussia, and Wolfson Groups Main Street Exton shopping-and-apartment center, which opened in 2001. Brandywine Realty Trust is set to buy the Exton Square Mall from PREIT for $27.5 million, according to U.S. Securities and Exchange Commission documents. Copyright 2023 American Community Journals, LLC |. Exton (Exton Square Mall) 10am-2am (Every Day) Philadelphia (Fashion District) 10am - 12am (Every Day) Erie (Millcreek Mall) 10am - 2am (Every Day) Exton Square Mall is a beautiful but dead mall. It is expected that the sale will close within the following 90 days. Among PREITs major malls, Exton Square has the lowest tenant occupancy rate, about 50%, according to its regulatory filings. Architectonically, the shopping center impresses visitors with its gigantic curved glass faade. The timing might be good for PREIT. Canada. Sale expected to close within 90 days. According to our analysis of FBI crime data, your chance of becoming a victim of crime in Exton is 1 in 95. 2020 CBS Interactive Inc. All Rights Reserved. PREIT also has plans for apartments at the Springfield Town Center in Virginia and the Mall at Prince Georges in Maryland. In the late 1940s, Exton became home to the Newcomen Society of the United States. When PREIT asked the township to permit its apartment complex, township manager Richard Manfredi said the township couldnt just approve zoning for one project. Plymouth Meeting, PA. The closures include the . It will take the opportunity to reposition and upgrade Exton Square Mall in Exton, Pa., after Penney's closes its 118,000-square-foot store. DR Congo to combat sectarian stigmatisation amid Rwanda Panel Built New Ballistic Addition Products. Kumbhardare walked the mall recently and only half the mall was lit. EXTON, PA Sears Holdings will be closing more than 100 stores in the new year, the company announced Thursday. As part of its core retail properties, the Philadelphia-based firm operates six malls with 6.1 million square feet of space around the region, and 11 malls in six other states and other parts of Pennsylvania. LOFT. Tucson (Park Place Mall) 10am - 2am (Every Day) . PREIT redeveloped the exterior of the Plymouth Meeting Mall but the shopping area inside the malls isnt doing well, Manero added. The Pennsylvania Real Estate Investment Trust (PREIT) is planning to sell Exton Square Mall as it tries to raise funds to pay down its debt and avoid being delisted from the NYSE, writes Natalie Kostelni for the Philadelphia Business Journal. The company is working to return to compliance with the New York Stock Exchange, which said in February PREIT was in danger of being delisted. To learn more about PREITs restructuring plan you can read the article from The Philadelphia Inquirer by clicking here. It is expected that the sale will close within the following 90 days. Wine & Spirits. Follow the link to read our updated Privacy Policy, Median Home Sales Price in Region Continues to Drop, Montco Officials Flip the Switch on Oaks Expo Center and Its Solar Array, Qurate, Parent Company of West Chester-Based QVC, Lays Off 400 Employees. Bring your broken, ready for trash bin device to our iFixandRepair Exton Square Mall (Temporarily Closed), and our experts will bring it back to life, you will not have to worry about a thing by leaving your device in our capable iFixandRepair Exton Square Mall (Temporarily Closed) team hands. Share your opinion with users and insert mall rating and reviews for Main Street at Exton. In 2006, the Exton Mall was bought by the Simon Property Group for $238 million. It happened around 5:30 p.m. on Wednesday. Still, PREIT executives point to recent positive signals: Through February, foot traffic jumped 14% over 2021 in its core malls. One of them is the one-million-square-foot Exton Mall. Its first phase of apartments comprises 2,200 units under contract, the company said. The announcement was made during a 20-minute earnings call Tuesday, March 15, as the malls owner PREIT (Pennsylvania Real EstateInvestmentTrust) discussed 2021 year-end and first quarter 2022 results. 14 jobs. 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