Coventry Mall finds way to lure back stores and shoppers

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Pennmark Management Co. bought the Coventry Mall in April 2016 and has since rejuvenated the once failing retail center. (Photo courtesy of Pennmark Properties)

For the longest time Coventry Mall, which serves the Pottstown vicinity, was losing stores and shoppers with no real hope for revitalization. But then Pennmark Management Co. came along, purchased the 802,000 square-foot retail center and turned things around in a big way.

Prior to purchase, the mall saw more than 20 stores leave and about half of the mall’s space was unoccupied. Pennmark entered the scene, and, reaching into its toolkit of game plans and strategies, focused on tempting eat-in restaurants, entertainment venues and fitness businesses to join the ranks. And it seems to be working, writes Natalie Kostelni in the Philadelphia Business Journal.

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According to Justin Bartholomew of Pennmark,  the mall is now about 84 percent occupied with more tenants in the pipeline. “There are a couple of deals in the works and that number can drastically change,” he said.

There’s a lease in the works that would take 30,000 square feet, or the remainder of a vacant Sears, and another deal involving a day care. A day care at the mall? Yes. A day care at the mall.

“We’re just not letting it die on the vine. We’re being active and unique,” Bartholomew said. “If you’re going to succeed you can’t rely on people recognizing a name and coming in. We are providing amenities. It’s the same reason people go to certain office buildings. They are looking to making their life easier.”

To read the complete story click here.

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