Plymouth Meeting Mall Could See New Ownership Amid PREIT Financial Struggles 

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PREIT is taking creative measures to pay off its nearly $1-billion debt, with the sale of Plymouth Meeting Mall as part of the ship-righting plan.

PREIT’s CEO says he might even consider selling the company as a whole or merging it with another entity to curb financial woes. Back in December, the regional mall company was delisted from the New York Stock Exchange. 

The Germantown Pike retail center, which opened in 1966, spans 917,844 square feet and is 89 percent occupied.

Currently, its popular lessees include Boscov’s, the LEGOLAND Discover Center – Philadelphia, and an AMC theater. 

Earlier this year, PREIT sold the property’s Whole Foods site to Agree Realty, Bloomfield Hills, Mich., for $27 million, according to Paul Schwedelson in the Philadelphia Business Journal.  

In addition to listing the mall, PREIT extended the maturity for its Fashion District’s term loan and extended the mortgage loan on Cherry Hill Mall.  

PREIT is also looking to sell Exton Square Mall in Chester County.  

Read more about the Plymouth Meeting Mall’s fate in the Philadelphia Business Journal.  

A walking tour of Plymouth Meeting Mall (2021).

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