Dartmouth Mall

PREIT Reports Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 14, 2023
Sale, Dartmouth Mall, Plymouth Meeting, Pennsylvania, Foot, Prince George's County, Maryland, Three Months, W Holding Company, Financial result, Springfield Town Center, OP, Whole Foods Market, McAuliffe-Shepard Discovery Center, Mall, ULTA, Mall kiosk, FFO, Operation, Primary Dealer Credit Facility, Line of credit, PREIT, Video game, Commercial property, Cryptocurrency

PHILADELPHIA, Nov. 14, 2023 /PRNewswire/ -- PREIT (OTCQB:PRET) today reported results for the three and nine months ended September 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: 
  • Core Mall Total Occupancy decreased by 70 basis points to 93.6% compared to the third quarter 2022.
  • Average renewal spreads for the three and nine months ended September 30, 2023 were 8.5% and 5.5%, respectively.
  • Additional information regarding changes in operating results for the three and nine months ended September 30, 2023 and 2022 is included on page 14.
  • The Company's Credit Facilities, with a balance of $1,118.8 million as of September 30, 2023, mature on December 10, 2023.

Over a Dozen Diverse and Impactful Tenants in 575,000 Square Feet Opening Throughout PREIT Portfolio, Strengthening Core Assets

Retrieved on: 
Monday, August 14, 2023
Dartmouth Mall, VIP, Springfield Town Center, Aldi, Cooper University Hospital, Moorestown Mall, Abercrombie & Fitch, Willow Grove Park, Health, OTCQB, Tenant, Abercrombie, Valley Mall, 4D film, ULTA, Woodland Mall, Main Event, Mall, Woodland, Extra Space Storage, Spaceflight, MPG, Prince, Dick's Sporting Goods, PREIT, Viewmont Mall, Sports medicine, House, Coffeehouse, Lease, Amusement park, Retail

Adding to the plan to create a vibrant multi-use destination, PREIT is planning to incorporate apartments and a hotel on the property, expanding its appeal.

Key Points: 
  • Adding to the plan to create a vibrant multi-use destination, PREIT is planning to incorporate apartments and a hotel on the property, expanding its appeal.
  • DICK's House of Sport at Viewmont Mall opened in 90,000 square feet on August 11, 2023.
  • "Creating a diverse tenant mix is a key ingredient in today's rapidly-evolving retail climate," said Joseph F. Coradino, CEO of PREIT.
  • "We are well positioned with a high-quality portfolio in desirable markets to capture tenants that create a compelling consumer experience.

ULTA to Join PREIT's Dartmouth Mall, a Premier Destination for Shoppers

Retrieved on: 
Wednesday, May 3, 2023
Dartmouth Mall, Growth, OTCQB, Winner takes all, ULTA, Beauty, Cosmetics, AMC Theatres, Tenant, AMC, Retail, Aldi

PHILADELPHIA, May 3, 2023 /PRNewswire/ -- PREIT (OTCQB: PRET) is proud to announce it has signed a lease with ULTA for 7,500 square feet at Dartmouth Mall.

Key Points: 
  • PHILADELPHIA, May 3, 2023 /PRNewswire/ -- PREIT (OTCQB: PRET) is proud to announce it has signed a lease with ULTA for 7,500 square feet at Dartmouth Mall.
  • Dartmouth Mall is a prime example of PREITs "Winner Take All" property segment as the only enclosed mall remaining in the region.
  • The mall has become a premier destination for shoppers seeking high-quality retail and entertainment including Burlington, Aldi, AMC Theatres, Workout World and more.
  • The addition of ULTA will add an unparalleled beauty experience with access to top brands in cosmetics and skincare.

PREIT Enhances Appeal of Dartmouth Mall with the Addition of Aldi

Retrieved on: 
Thursday, January 7, 2021
Retailers, Retailing, Supermarkets, Albrecht family, Aldi, Pennsylvania Real Estate Investment Trust, Dartmouth Mall

Dartmouth Mall is the dominant enclosed retail destination within a 30-mile radius in Southeast Massachusetts well-located near popular vacation destinations of Cape Code, MA and Newport, RI.

Key Points: 
  • Dartmouth Mall is the dominant enclosed retail destination within a 30-mile radius in Southeast Massachusetts well-located near popular vacation destinations of Cape Code, MA and Newport, RI.
  • Aldi joins a dynamic roster of tenants including Burlington, Old Navy, Hollister, H&M, Five Below, Carter's and Francesca's.
  • The addition of Aldi marks the third grocer addition to PREITs portfolio.
  • "The addition of Aldi to Dartmouth epitomizes PREIT's go-forward strategy to redefine our assets to serve a multitude of purposes," said Joseph F. Coradino, CEO of PREIT.