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



Dec 13, 2019, USA:
A retail space dedicated to the work of Liverpool Four appeared in the Soho quarter.
Dec 13, 2019, USA:
Verishop's online retailer, created by the former CEO of Snapchat, is trying various ways to promote brands offline.
Dec 12, 2019, Netherlands:
Swedish fashion giant tests delivery by bicycles from an online store in the Netherlands.
Dec 10, 2019, USA:
There will be Lord & Taylor store back in New York. However, so far, only in pop-up format and only for the holidays.
Dec 10, 2019, United Arab Emirates:
The media giant Warner Bros. announced its intention to open its world's first themed hotel in 2021.
Dec 9, 2019, USA:
Cadillac Company offers its customers a fundamentally new experience of choosing a car.
Friend
and Follow
Designer Outlet Malaga GLA:322 917 SF
ADDRESS: 29004, Málaga, Spain
Spain . Malaga
Designer Outlet Malaga
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Charlotte Premium Outlets GLA:400 000 SF
ADDRESS: 5404 New Fashion Way Suite 100, Charlotte, NC 28278
USA . Charlotte
Charlotte Premium Outlets
Dania Pointe GLA:975 000 SF
ADDRESS: 292-344 North Bryan Road, Dania Beach, FL 33004
USA . Fort Lauderdale
Dania Pointe


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