Before we send you to , pleasesubscribe to our daily newsletter. Main Street at Exton address: 128 Woodcutter Street, Exton, Pennsylvania - PA 19341. The mall features a parking garage and food court. https://discord.gg/g4tKbpu, Press J to jump to the feed. PHILADELPHIA The owner of Exton Square Mall in West Whiteland has entered into an agreement to sell the property. November 2, 2020 / 6:12 PM The firm disclosed last month that it is selling the mall for $27.5 million. Dedicated free parking spots for patients with special needs and a drop off lane provide convenient access for our patients. Springfield Town Center. Boscov's is located in Exton Square. The company expects to close on the sale within 90 days. The Exton Square Mall. 4 years ago. 477 30 30 comments Best Add a Comment jal7777us 3 yr. ago Wow. The property is currently 50-percent occupied and records sales of $283 a square foot. There were no questions taken from analysts during the call. The Pennsylvania Real Estate Investment Trust has said it's selling the mall with a 50% tenant vacancy for $27.5 million. READ MORE: https://www.inquirer.com/business/preit-fashion-district-investement-writedown-coronavirus-retail-20210313.html. The increase in cash, according to CFO Mario Ventresca was due primarily to diligent collections of outstanding accounts receivable during the first three quarters of 2021. It is expected that the sale will close within the following 90 days. 146 Exton Square Mall, Exton, PA 19341, USA. 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 Group's Main Street Exton shopping-and-apartment center, which opened in 2001. Report inappropriate content . Prepared to Thrive. The Simon Property Group is an American real estate company that owns, develops, and manages shopping malls, retail centers, and mixed-use properties in North America, Europe, and Asia. Copyright 2023 American Community Journals, LLC |. The property is currently 50-percent occupied and records sales of $283 a square foot. The Gallery at East Market/Owners. The sale of Exton Square Mall is part of a three-part strategy to improve PREITs portfolio by taking advantage of robust sales and demand for space while reducing debt, Coradino said. ----------------------------------------------------------- Plymouth Meeting, PA. Exton Square 260 Exton Square Exton, PA 19341 (610) 363-7034. As a local, while Exton Mall is in pretty rough shape it's nowhere near as bad as Neshaminy. J-1. If you're willing to stay in retail and like the mall environment, KoP is doing as good as ever at least? Exton Square Mall is located in Exton, Pennsylvania and offers 56 stores - Scroll down for Exton Square Mall shopping information: store list (directory), locations, mall hours, contact and address. 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. No specifics were provided, in terms of sale price or who the buyer is. Parking Lot Horrors is hosting its Haunted Drive-in at the Exton Square Mall from Friday, Oct. 8 through Saturday, Oct. 30. Among PREITs major malls, Exton Square has the lowest tenant occupancy rate, about 50%, according to its regulatory filings. Richard Latella, an executive managing director at Cushman Wakefield whose team appraises 250 U.S. malls a year, said those centers have repurposed themselves. Kaufhof department store are open till 9pm Saturdays. Press question mark to learn the rest of the keyboard shortcuts. Per Jacob Adelman of The Philadelphia Inquirer, this new plan allows PREIT to borrow an additional $130 million in loans, in exchange for going through bankruptcy, and the properties that PREIT owns outright now becoming collateral for their lenders. Main Line Health Exton Square 154 Exton Square Parkway Exton, Pennsylvania 19341 He and other township officials met with PREIT in Philadelphia. Opens at 9am. Of the closures, 64 Kmarts will be shuttered, as well as 39 Sears stores. What is the pre employment test for Canada Post? 45 x 90 4,050. The companys stock closed at 75-cents per share on March 16, and as of 12 p.m. Wednesday, it was trading at 76-cents per share. March 16, 2022 | 12:25 P.M. Pennsylvania Real Estate Investment Trust said it has found a buyer for its nearly 1 million-square-foot Exton Square Mall in Exton, Pennsylvania. A lot of tenants are not stores but local organizations and healthcare. Copyright 2023 American Community Journals, LLC |. PREIT is a big-time proponent of that trend. The company filed for bankruptcy protection in 2020. There are plans for redevelopment within the next 5 years. Exton has an overall crime rate of 10 per 1,000 residents, making the crime rate here near the average for all cities and towns of all sizes in America. EXTON, PA Sears Holdings will be closing more than 100 stores in the new year, the company announced Thursday. . J-3. The company expects to close on the sale within 90 days. The Macys-anchored mall is also not considered a core property by PREIT. 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. 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. The closures are part of Macy's three-year plan to close one-fifth of its stores, or roughly 125 locations, which was first announced before the coronavirus pandemic in February 2020. The company reported a net loss of $34.5 million in the fourth quarter of 2021 or 43-cents per share. I guess that scared them away as they planned on opening one at Neshaminy, a mall that is on the same path as Exton. 94 x 95 8,940. Parking is not an issue with two large garages and surface spaces. Sad, my mall lost these stores a while ago except zumiez which is still open. LOFT part-time associate, weekend shifts! Jan. 6, 2022 4:43 pm ET. Brandywine Realty Trust Great Clips. 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Defections have hurt. Two mall operators filed for bankruptcy protection Monday, hurt by the ripple effect of thecoronavirus pandemicwhich has forced many of its mall tenants to permanently close stores or not pay rent. First published on November 2, 2020 / 6:12 PM. It is expected that the sale will close within the following 90 days. Czech Republic. The sale will allow the buyer to fulfill that destiny.. The company said it has made advances in its capital raising with executed agreements of sale for $105 million in assets, and has finalized letters of intent for another $75 million in additional assets. One of them is the one-million-square-foot Exton Mall. This sale will allow the builder to fulfill that destiny.. Opens at 9am. We all want the mall here, she said. Exton Square Mall has just over 1 million square feet of space, is 52% occupied and has sales of $283 per square foot, according to information on the PREIT website. What are the principles architectural types of Islam? One of them is the one-million-square-foot Exton Mall. (610) 280-6573. 15 x 95 1,470. V & A Bridal Salon. 126 Exton Square Mall. Exton Square Mall is a beautiful but dead mall. The court approved restructuring plan allows PREIT to borrow an additional $130 million in loans. Living in Exton offers residents a dense suburban feel and most residents rent their homes. The companys stock closed at 75-cents per share on March 16, and as of 12 p.m. Wednesday, it was trading at 76-cents per share. He considered it a well-maintained mall that does not look drab like a lot of malls that he films. Location Exton, PA. It is expected that the sale will close within the following 90 days. The original list Read. Please enter valid email address to continue. What's New Activities Locations Membership Food Menu Careers. MacerichPennsylva Real Estate Investment 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. PREIT Chairman and CEO Joseph Coradino said the company had executed an agreement of sale late Monday to sell the mall to a developer. The property is currently 50-percent occupied and records sales of $283 a square foot. Investigators are looking for three people accused of stealing roughly . Brazil. 59 x 100 5,880. 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 is our walkthrough of the Exton Square Mall in Exton, PA from December 24, 2018. Earlier this year, Simon Property bought men's clothierBrooks Brothers, fast-fashion retailerForever 21and denim storeLucky Brand. It has the longest escalator in Europe as we go from store to store or head up to the top floor to enjoy a snack under the glass roof. 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. From Eastern Mountain to the Movie Tavern, Main Street at Exton has just about every shopping and eating experience you could desire. What stores are at the Main Street in Exton Pa? No specifics were provided, in terms of sale price or who the buyer is. Have hand sanitizer available in-store and/or know where the nearest mall sanitizer is located. A later phase could add hundreds of additional apartments. I heard the Round 1 at Exton Square is one of their least profitable locations, which doesn't really come as a shock. The company has until Aug. 4 to resolve the issue. A JCPenney store closed there in 2014 and the mall has about a 20-percent vacancy rate. 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