Cherry Hill Mall

PREIT Reports Second Quarter 2023 Results

Retrieved on: 
Thursday, August 3, 2023
Springfield Town Center, Cherry Hill Mall, Moorestown Mall, Internet, Financial result, Line of credit, Willow Grove Park, OP, Prince George's County, Maryland, Whole Foods Market, Primary Dealer Credit Facility, Phase II, Sale, FFO, Woodland Mall, Main Event, Prince George, Webcast, NOI, Plymouth Meeting, Pennsylvania, PREIT, Marley Station Mall, Hawaii Children's Discovery Center, Three Months, Family, Conference, The Rouse Company, Video game, Commercial property, Cryptocurrency, Life insurance, Mall

PHILADELPHIA, Aug. 3, 2023 /PRNewswire/ -- PREIT (OTCQB:PRET) today reported results for the three and six months ended June 30, 2023. A description of each non-GAAP financial measure and the related reconciliation to the comparable GAAP financial measure is provided in the tables accompanying this release.

Key Points: 
  • Robust leasing activity is driving increased occupancy with Core Mall Total Occupancy increasing by 40 basis points to 94.2% compared to the second quarter 2022.
  • Core Mall non-anchor Occupancy improved 70 basis points to 91.2% compared to the second quarter 2022.
  • Additional information regarding changes in operating results for the three and six months ended June 30, 2023 and 2022 is included on page 15.
  • The Company's Credit Facilities, with a balance of $1,023.1 million as of June 30, 2023, mature on December 10, 2023.

PREIT Reports First Quarter 2023 Results

Retrieved on: 
Thursday, May 4, 2023
Springfield Town Center, Partnership, Plymouth, The Mall at Prince Georges, Cherry Hill Mall, Moorestown Mall, Internet, Financial result, Line of credit, Willow Grove Park, OP, Foot, Whole Foods Market, Primary Dealer Credit Facility, Sale, Plymouth Meeting Mall, FFO, Burlington, Prince George, Fashion District Philadelphia, Webcast, NOI, PREIT, Hawaii Children's Discovery Center, Three Months, Family, Conference, Waltham Watch Company, Video game, Commercial property, Bank, Cryptocurrency, MD, Mall

Tenant construction is underway for a new prototype, 32,000 square foot, LEGO® Discovery Center at Springfield Town Center with expected opening in third quarter 2023.

Key Points: 
  • Tenant construction is underway for a new prototype, 32,000 square foot, LEGO® Discovery Center at Springfield Town Center with expected opening in third quarter 2023.
  • Additional information regarding changes in operating results for the three months ended March 31, 2023 and 2022 is included on page 15.
  • The Company's Credit Facilities, with a balance of $995.8 million as of March 31, 2023, mature on December 10, 2023.
  • Management has scheduled a conference call for 11:00 a.m. Eastern Time on Thursday May 4, 2023, to review the Company's results and future outlook.

PREIT Delivers Expanding Retailers to New Markets

Retrieved on: 
Tuesday, July 19, 2022
Public health, History, CEO, Security (finance), LinkedIn, Risk, U.S. Securities and Exchange Commission, Plymouth, Capital City Mall, Cherry Hill Mall, Johnson Health Tech, Time, Springfield Town Center, Winner takes all, Failure, Forward-looking statement, NYSE, Bankruptcy, Technology, Twitter, Unemployment, Tilt, Collection, PEI, Moorestown Mall, COVID-19, Hot Topic, PREIT, Woodland Mall, Instagram, Zara (retailer), Annual report, HomeSense, Legoland Discovery Centre, Tenant, Plymouth Meeting Mall, Compliance, Bloomingdale's, Violence, Bloomingdale, Renewable energy, Commercial property, Capital City, Willow Grove Park

PHILADELPHIA, July 19, 2022 /PRNewswire/ -- PREIT (NYSE: PEI), today announced that a list of growing retailers are set to join the lineup at key properties in dynamic markets.

Key Points: 
  • PHILADELPHIA, July 19, 2022 /PRNewswire/ --PREIT (NYSE: PEI), today announced that a list of growing retailers are set to join the lineup at key properties in dynamic markets.
  • At the same time, bringing new tenants to markets enhances repeat visits from customers seeking an evolving fresh tenant mix.
  • PREIT has a history of bringing new tenants to these key markets.
  • Today PREIT highlights three retailers choosing to expand within its strong portfolio.

Riverton Announces Charles E. Cristella as Leasing Director for Nationwide Push

Retrieved on: 
Friday, December 3, 2021
Avalon, Mall, Heart, Moorestown Mall, Colony Square, Partnership, Garden State Parkway, Raritan River, JLL, City, The Mall at Wellington Green, Union Hill, Flemington, National Directorate for Personal Data Protection, Garden, Northlake Mall, Atlantic Station, Work, Old Bridge, Cross keys, Voorhees Town Center, Blue Back Square, NAP, Cherry Hill Mall, Multimedia, Pseudochama cristella, MacArthur Center, Amusement park

SAYREVILLE, N.J., Dec. 3, 2021 /PRNewswire/ -- North American Properties (NAP) today announced that JLL's Charles E. Cristella has been named National Director of Leasing for Riverton, a $2.5 billion, mixed-use destination in Sayreville, New Jersey.

Key Points: 
  • SAYREVILLE, N.J., Dec. 3, 2021 /PRNewswire/ -- North American Properties (NAP) today announced that JLL's Charles E. Cristella has been named National Director of Leasing for Riverton, a $2.5 billion, mixed-use destination in Sayreville, New Jersey.
  • In New Jersey, Cristella has coordinated leasing for 10 high-profile regional shopping centers, comprising 5.5 million square feet of gross leased area, totaling $550 million in redevelopment.
  • "I am very excited to play a key role in bringing Riverton to life by blending relevant national brands with local favorites into one immersive community" Cristella said.
  • Planning, design, leasing and procurement are underway; the excitement becomes reality with a groundbreaking that will be celebrated in Spring 2022.

PREIT and 1776 Partner to Open New Flexible Workspace and Founders' Market Representing the Evolving Mall Model at Cherry Hill Mall

Retrieved on: 
Thursday, January 24, 2019
Pennsylvania Real Estate Investment Trust, Shopping malls, Cherry Hill Mall, Cherry Hill, New Jersey, Tourist attractions, Cherry Hill, Startup company, National Mall, Crown American

This new-to-portfolio concept for PREIT and first mall location for 1776 will focus on startups, small businesses, retail and e-commerce incubation initiatives, revolutionizing the mall model.

Key Points: 
  • This new-to-portfolio concept for PREIT and first mall location for 1776 will focus on startups, small businesses, retail and e-commerce incubation initiatives, revolutionizing the mall model.
  • Founders' Market is a curated marketplace within 1776's newest location at Cherry Hill Mall.
  • Together, PREIT and 1776 will bring access, programming and innovation to entrepreneurs in a new environment to drive collaborative and creative thinking.
  • "We couldn't be more excited for our 1776 Cherry Hill Mall campus to be open," said Jennifer Maher, CEO of 1776.

PREIT Delivers New Tenants to Cherry Hill Mall as Retail Evolution Continues

Retrieved on: 
Tuesday, September 18, 2018
Pennsylvania Real Estate Investment Trust, Cherry Hill Mall, Cherry Hill, New Jersey, NEW JERSEY, Crown American

The 11,000 square foot store will meet the growing demand for this retail segment and will open later this year.

Key Points: 
  • The 11,000 square foot store will meet the growing demand for this retail segment and will open later this year.
  • These new and refreshed additions are the most recent updates in the ongoing evolution of PREIT's flagship, Cherry Hill Mall.
  • Cherry Hill Mall is located in South Jersey, about eight miles from Center City Philadelphia.
  • PREIT (NYSE: PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets.

PREIT Partners with 1776 to Bring Innovative Incubator Space to Cherry Hill Mall

Retrieved on: 
Tuesday, July 24, 2018
Pennsylvania Real Estate Investment Trust, Cherry Hill Mall, Cherry Hill, New Jersey, Cherry Hill, NEW JERSEY, Crown American

PHILADELPHIA, July 24, 2018 /PRNewswire/ -- PREIT (NYSE: PEI) today announced a new partnership with 1776 at Cherry Hill Mall to drive innovation among the local retail community.

Key Points: 
  • PHILADELPHIA, July 24, 2018 /PRNewswire/ -- PREIT (NYSE: PEI) today announced a new partnership with 1776 at Cherry Hill Mall to drive innovation among the local retail community.
  • As developers get more innovative with the use of space and the concept of a workplace evolves, this is a new-to-portfolio concept for PREIT and the first mall location for 1776.
  • Together, PREIT and 1776 will bring access, programming and innovation to entrepreneurs in a new environment to drive collaborative and creative thinking, focused on the retail industry.
  • "The Cherry Hill Mall location allows us to be more creative with our incubator as retail evolves and the face of work shifts."