Find in the news:
BY COUNTRY

PREIT Putting Out Feelers For Macy’s Replacement



The REIT is putting some feelers out for potential replacement tenants for Macy’s at three of its regional malls.
Pennsylvania Real Estate Investment Trust, a publicly traded REIT that traces its roots back to 1960, owns and operates more than 25 million square feet of space spread across the eastern United States. According to Philly.com, the REIT is putting some feelers out for potential replacement tenants for Macy’s at three of its regional malls. 

macys

The stores are located at the REIT’s Plymouth Meeting, Moorestown, and Altoona malls, and the natural correlation is that these locations could be among the 100 that Macy’s hopes to close by early next year. Brokers have reported that the spaces have been listed among internal industry listings, and it’s certainly captured their attention.  

"There are great opportunities if [PREIT] gets them back [in the company's portfolio]. The question that struck me is what are the best uses for those spaces? There is a lot of pent-up demand for big boxes, but there is not a lot of new construction due to high construction and land costs and what tenants are willing to pay,” said Dan Brickner, principal at Metro Commercial. 

Brickner, who represents the entertainment and dining firm Dave & Buster's, points to the increased opportunities that are out there for malls to make them into a destination that will resonate with today’s consumers. While having a large space open up is never a welcome sight, there are viable alternatives that can slide in. 

Dave and Busters

"Mall shopping is changing where you need to drive traffic to a lot of these interior malls, and many of them have taken these boxes and added entertainment like a Dave & Buster's,” he said. 

As long as they’re not completely blind sided, malls have actually adapted pretty well to the changing times, despite all of the doom and gloom that’s reported by traditional media. 

"With the closure of Sears and Macy's, malls have done a good job with more nontraditional uses, and that sometimes entails just demolishing them. You have the benefit of the parking lot and the ability to build your box like the Wegmans in Montgomeryville at Montgomeryville Mall." 

Related shopping malls and stores:

More about shopping malls in the USA

TODAY, United Kingdom:
Due to the coronavirus pandemic, more and more customers are adopting the habits of the younger generation and do not want to constantly change their wardrobe.
TODAY, Slovenia:
SES Spar European Shopping Centers opened ALEJA Center in Ljubljana on Wednesday, 20 May 2020.
May 22, 2020, USA:
The British retailer said that the demand for home clothing, sleepwear and bras has increased, but office suits have become less in demand.
May 22, 2020, USA:
Victoria’s Secret to close about 250 stores in the U.S. and Canada, Bath & Body Works to close 50.
May 19, 2020, Italy:
Shops in downtown Rome, Milan, and other top locations remain closed despite the lifting of restrictions.
May 19, 2020, USA:
According to a study by FTI Consulting, more than a third of Americans have stopped buying goods from China.
Friend
and Follow
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
K in Lautern GLA:224 966 SF
ADDRESS: 67655 Kaiserslautern
Germany . Kaiserslautern
K in Lautern
I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
Italy . Torino
I Viali
Central Children's Store GLA:370 192 SF
ADDRESS: Teatralnyi proezd, 5
Russia . Moscow region
Central Children's Store


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us