follow us:Google+FacebookLinkedInTwitterVimeoRSS Feeds

advertisement

PREIT sale of Chambersburg Mall completed for $8.8 million

By

Back to Top Comments Email Print

Philadelphia-based Pennsylvania Real Estate Investment Trust said today it has completed the sale of the Chambersburg Mall in Franklin County for $8.8 million.

The firm said sales per square foot and non-anchor occupancy were below the PREIT mall portfolio averages, according to a news release.

CEO Joseph F. Coradino said in a statement that the mall has been “among our weakest performing properties.”

Sale proceeds, which were net of closing costs, settlement pro-rations and credits, were about $8.4 million.

PREIT said earlier this fall as part of earnings statements that the property and the North Hanover Mall in York County were under contract for sale.

Shares of Pennsylvania Real Estate Investment Trust are traded on the New York Stock Exchange under the ticker symbol PEI.

Brent Burkey

Brent Burkey

Brent Burkey covers York County, agribusiness, energy and environment, and workforce issues. Have a tip or question for him? Email him at brentb@cpbj.com. Follow him on Twitter, @brentburkey.

advertisement

Comments


Be the first to comment.



Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
     View Comment Policy
advertisement
  
  
advertisement
  
  
advertisement
Back to Top