PREIT
PREIT is a privately held real estate investment trust that owns and develops shopping centers, primarily in the Mid-Atlantic region.
Founded in 1960, it focuses on transforming traditional malls into mixed-use, community-centric hubs. PREIT emerged from its second bankruptcy in 2024 and is now privately owned.
Address: 2005 Market Street, Suite 1120, Philadelphia, PA 19103
Phone: (215) 875-0700
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Four Developing Projects Coming to Chester County in 2026
Chester County is the place for building, with permits and projects sprouting up every day to take up the next available space. Whether it’s housing,…
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Formerly Farmland, New Mixed-Use Community Planned for New Garden Township
Stonewall Capital, a Baltimore-area developer, is planning a massive mixed-use project on former farmland in New Garden Township, writes Melody Simmons for the Philadelphia Business Journal. …
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$100M Redevelopment Aims to Turn Plymouth Meeting Mall Into Montco’s Next Town Center
A major transformation is on the horizon for the Plymouth Meeting Mall, writes Paul Schwedelson for The Philadelphia Business Journal. Philadelphia-based LA Partners, formerly known…
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Springfield Mall in Distress? Owners Miss Loan Repayment
PREIT and Simon Properties Group, owners of the Springfield Mall, did not pay off their loan for the mall ahead of its maturity date last…
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Redevelopment of Exton Mall Among Mixed-Use Projects Reshaping Philadelphia Suburbs
The redevelopment of the Exton Square Mall by Abrams Realty & Development is among the growing number of projects reshaping Philadelphia’s suburbs, writes Paul Schwedelson…
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Fashion District Owner Macerich Partners with CBRE to Fill Vacant Storefronts at Mall
California-based Macerich has partnered with real estate services firm CBRE to fill vacant storefronts at the Fashion District, writes Jake Blumgart for The Philadelphia Inquirer.…
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Boscov’s Set to Outlive Exton Square Mall as New Owner Plans Mixed-Use Town Center to Replace It
With many department store giants, including Macy’s and JCPenney, closing stores during the years-long retail apocalypse, Boscov’s has stayed afloat and expanded, writes Noah Zucker…
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Abrams Realty Buys Exton Square Mall, Plans to Build New Homes and Limited Commercial Space
Exton Square Mall officially has a new owner as of Tuesday, with PREIT selling the beleaguered property to Abrams Realty & Development, writes Jake Blumgart…
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Keystone Begins Transformation of Plymouth Meeting Mall Office into Luxury Apartments
Keystone Development + Investment began converting a long-vacant office building next to the Plymouth Meeting Mall into a modern residential community, writes Kevin Tierney for…
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PREIT’s New CEO Considered Redeveloping Exton Square Mall Before Deciding to Sell
PREIT considered redeveloping Exton Square Mall before ultimately deciding to sell the property to generate funds for paying down debt, writes Paul Schwedelson for the…
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Local Malls Reinvent the Retail Experience to Keep Relevant
As local malls adapt to shifting consumer habits, the King of Prussia Mall, Plymouth Meeting Mall, and Willow Grove Park Mall exemplify varied approaches to…
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Local Developer Moves to Acquire Exton Square Mall
Elkins Park-based Abrams Realty & Development is in the process of acquiring the Exton Square Mall with plans to revitalize the struggling property, writes Paul…
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Plymouth Meeting, Willow Grove Mall Owner PREIT Going Private After Emerging from Bankruptcy
PREIT, the owner of Plymouth Meeting and Willow Grove malls, is set to go private after it emerged from bankruptcy protection for the second time…
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PREIT, Owner of the Fashion District, Files for Chapter 11 Bankruptcy, Relinquishes Ownership
PREIT, which owns several major malls across the region, including the Fashion District in Center City, has filed for bankruptcy for the second time since…
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Fashion District Philadelphia CEO Believes New Mall Consumers ‘Value Experiences Over Goods’
Joseph Coradino, CEO of PREIT, owner of Fashion District Philadelphia, took a hard look at its portfolio well before the onset of the pandemic, replaced…
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Fashion District’s Precarious Finances May Be Influencing 76ers’ Push for Speedy Green Light on New Arena
The 76ers’ development company has spent the last year pushing for City Council to give the green light for the team to build a new…
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