|
PREIT
Pennsylvania Real Estate Investment Trust is a publicly traded real estate investment trust that invests in shopping centers mostly in the Mid-Atlantic states. History The company was founded by Sylvan M. Cohen in 1960 as one of the first equity REITs. In 1997, the company acquired the Rubin Organization for $260 million. In 2001, founder Sylvan Cohen died. In 2003, the company acquired 6 shopping malls from The Rouse Company. The company also acquired Crown American. In 2006, the company acquired Woodland Mall for $177.4 million. In 2012, Joseph Coradino was named chief executive officer of the company. In 2013, the company sold Christiana Center and Commons at Magnolia for $87.3 million. In 2014, the company acquired a building in Philadelphia. In 2015, the company acquired Springfield Town Center for $465 million from Vornado Realty Trust. In 2016, the company sold 4 malls for $93 million. In 2019, the company turned Wyoming Valley Mall over to its mortgage holder, GS ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Crown American
Crown American is a privately held American company that manages and develops commercial real estate. The corporate headquarters is in downtown Johnstown, Pennsylvania, in a building designed by architect Michael Graves. History The company was founded in 1950 as Crown Construction. Frank J. Pasquerilla, who joined less than a year later, became president in 1956 and sole owner in 1961. The company's name was changed to Crown American in 1972 and in 1979 it acquired the Hess's department store chain. In 1993, the company split into two entities. The shopping mall portion of the company became a publicly held real estate investment trust, Crown American Realty Trust, and Crown American Hotels controlled the company's hospitality businesses. At its peak, Crown American operated 30 shopping malls, the Hess's department store chain (with 73 locations), and 20 hotels and motels. In 2003 the shopping mall development and management unit, Crown American Realty Trust, was sold to Penn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exton Square Mall
Exton Square Mall is a shopping mall located in the Exton, Pennsylvania in West Whiteland Township in Chester County, Pennsylvania. The mall features a parking garage and food court. It is located at the crossroads of Chester County at the intersection of U.S. Route 30 Business and Pennsylvania Route 100. The mall is anchored by Macy's and Boscov's retail stores and a Round One Entertainment, an arcade and bowling center. It also contains dozens of smaller stores and a food court. The Exton Square Mall is shaped as a square with the southern half of the mall two floors and the northern half one floor. Macy's is located at the center of the mall while the other two anchor stores and the food court are on corners of the mall. It is owned by Pennsylvania Real Estate Investment Trust (PREIT). Location The Exton Square Mall is located in the unincorporated community of Exton in West Whiteland Township, Chester County, Pennsylvania at the northeast corner of the intersection between ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cherry Hill Mall
The Cherry Hill Mall, owned by Pennsylvania Real Estate Investment Trust (PREIT), was originally known as Cherry Hill Shopping Center, commonly reported as the first indoor, climate-controlled shopping center east of the Mississippi River in the United States, and opened on October 11, 1961. Cherry Hill Mall is located in Cherry Hill, New Jersey and is bound by Route 38, Haddonfield Road ( County Route 644), Church Road ( County Route 616), and Cherry Hill Mall Drive. The center was designed by architect Victor Gruen and built and managed by The Rouse Company. Rouse sold its shopping center portfolio to Pennsylvania Real Estate Investment Trust in 2003 as PREIT converted its holdings from residential to retail. The mall has a gross leasable area of , placing it in the top ten among the largest shopping malls in New Jersey. The mall is currently anchored by JCPenney, Macy's, and Nordstrom. The farm that was near the site of the Cherry Hill Mall is widely held to be the source ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wyoming Valley Mall
Wyoming Valley Mall is a shopping mall located in Wilkes-Barre Township, Pennsylvania. It is anchored by JCPenney and Macy's. History Work began on the mall in April 1968, when the land was purchased from the Blue Coal Corporation. Illegally dumped garbage from the East Side Landfill Authority was removed during early work. Sears opened before the mall in early 1971. Pomeroy's opened in August and JCPenney in April 1972. Wyoming Valley Mall did not become successful until Hurricane Agnes in 1972 caused significant damage to the surrounding area and the post-disaster need for supplies. Multiple movie theaters have existed at the mall, opening with two screens inside, and later adding another three outside. Zollinger closed in October 1977, with Hess's opening in May 1978. Wyoming Valley, along with the Viewmont Mall, was sold by Crown American to PREIT in 2003. Wyoming Valley Mall was renovated in 2006 for $8 million, and received significant cosmetic changes. H&M opened at the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fashion District Philadelphia
Fashion District Philadelphia is a shopping mall in Philadelphia, Pennsylvania, United States, located in Center City along Market Street. It opened in 2019 on the site of a previous mall known as The Gallery and later renamed The Gallery at Market East. The mall was envisioned to fill that "void" that even smaller cities have, to sell items to the Center City market that had previously only been available elsewhere. The Fashion District Philadelphia currently has Burlington, Primark, AMC Theatres, and Round One Entertainment as anchors. History Prior to the Fashion District Philadelphia, the space originally opened in 1977 as The Gallery. It was later expanded with the construction of The Gallery II in the early 1980s. The Pennsylvania Real Estate Investment Trust (PREIT) acquired The Gallery in April 2003 from The Rouse Company and Gallery II in the third fiscal quarter of 2004 from the state's Public School Employees' Retirement System. The total complex measures approxi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Investment Trust
A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping centers, hotels and commercial forests. Some REITs engage in financing real estate. Most countries' laws on REITs entitle a real estate company to pay less in corporation tax and capital gains tax. REITs have been criticised as enabling speculation on housing, and reducing housing affordability, without increasing finance for building. REITs can be publicly traded on major exchanges, publicly registered but non-listed, or private. The two main types of REITs are equity REITs and mortgage REITs (mREITs). In November 2014, equity REITs were recognized as a distinct asset class in the Global Industry Classification Standard by S&P Dow Jones Indices and MSCI. The key statistics to examine the financial position and operation of a REIT inc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital City Mall
Capital City Mall is a regional shopping mall located approximately southwest of Harrisburg in Lower Allen Township, Pennsylvania. It is one of three enclosed malls in the immediate Harrisburg area, and is the only enclosed mall in Harrisburg's western suburbs. The anchor stores are Dick's Sporting Goods, JCPenney, Macy's, Sportsman's Warehouse, Dave & Buster's, and H&M. The mall is owned and operated by the Pennsylvania Real Estate Investment Trust (PREIT). History Capital City Mall was developed by Crown American Corporation, Johnstown, PA and opened in 1974 with Bowman's, Murphy's Mart and Sears as its anchors, as well as a movie theater. Bowman's was a locally based department store and closed in 1979. Their location was expanded and became the Harrisburg area's first Hess's later that year. In 1985, more changes came to the mall. G.C. Murphy closed its doors and the Garden Grove food court was added to the center of the mall. In August 1987, the vacant G.C. Murphy store ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dartmouth Mall
The Dartmouth Mall is a one-level shopping mall located off US 6 and Faunce Corner Road in North Dartmouth, Massachusetts, in the United States. Currently anchoring the mall are Aldi, Burlington, JCPenney, and Macy's. The mall also features a food court and movie theater. It is managed by the Pennsylvania Real Estate Investment Trust. History Dartmouth Mall (originally known as North Dartmouth Mall; the name was changed in the 1990s after the town abandoned officially using the name) was constructed during the years 1969 to 1971 on the site of the 9-Hole Golf Course Paskamansett Links. The town of North Dartmouth had zoned all of the land on Route 6 for commercial development, and the North Dartmouth Mall was the first large-scale retail facility constructed along the route. When the mall opened, it featured a 3-screen cinema, 72 stores, and nine restaurants. Anchoring the mall were Zayre, Sears, and The Outlet Company department store, as well as mini-anchors Cherry & Webb and Wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exton, Pennsylvania
Exton is a census-designated place (CDP) in West Whiteland Township, Chester County, Pennsylvania, United States. Its population was 5,622 at the 2020 census. The Exton Square Mall and Main Street at Exton are both located within Exton along with several other shopping centers, making Exton the major shopping district in Chester County. History Exton lies at the intersection of U.S. Route 30 (formerly the Lancaster Road, and later the Lincoln Highway) and Pennsylvania Route 100 (Pottstown Pike). Beginning in the late 18th century, the Lancaster Road became a major transportation route between Philadelphia and the west, while what is now Route 100 was a regional north–south route to Pottstown. A theory exists that Exton was named as the "X" on the map, denoting this intersection, though more likely the village was named after one of the several Extons in the United Kingdom. In the late 1940s, Exton became home to the Newcomen Society of the United States. The campus of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Woodland Mall
Woodland Mall is an enclosed super-regional shopping mall located in Kentwood, Michigan, a suburb of Grand Rapids. It comprises over 100 tenants in of retail space, with three anchor stores (Macy's, JCPenney, and Von Maur), along with Barnes & Noble (which is the largest non-anchor store in the mall), Forever 21, H&M, Pottery Barn, and The North Face as junior anchors. It formerly housed a movie theater which opened as Cinemark, was purchased by Celebration Cinema and subsequently closed in 2020. The mall is owned and managed by Pennsylvania Real Estate Investment Trust, who acquired it from its developer, Taubman Centers, in 2006. History Woodland Mall opened in 1968 at the northwestern corner of 28th Street ( M-11) and East Beltline Avenue ( M-37). The mall was built at a southwest-to-northeast orientation, with Sears at the southwestern end, and JCPenney at the northeastern end. A Kresge dime store was also located in the Sears wing. Another mall, Eastbrook Mall (now Cent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chapter 11 Bankruptcy
Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation may also occur under Chapter 11; while Chapter 13 provides a reorganization process for the majority of private individuals. Chapter 11 overview When a business is unable to service its debt or pay its creditors, the business or its creditors can file with a federal bankruptcy court for protection under either Chapter 7 or Chapter 11. In Chapter 7, the business ceases operations, a trustee sells all of its assets, and then distributes the proceeds to its creditors. Any residual amount is returned t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
