Posts Tagged: Mall

Netflix Plans to Transform Vacancy at Mall

Netflix Attempt to Move Beyond Screens Relies on This Empty Mall Department Store

Netflix, the renowned streaming platform, is embarking on a novel endeavor to revitalize a vacant Lord & Taylor store, marking one of its initial ventures into physical entertainment venues. This initiative reflects a growing trend of repurposing obsolete department store mall locations across the nation. Headquartered in Los Gatos, California, Netflix intends to convert the… Read more »

PREIT Selling Both Exton Square Mall and Plymouth Meeting Mall

PREIT explores sale of Plymouth Meeting, Exton Square malls to shore up cash

PREIT said Thursday it’s still looking to sell Exton Square Mall, and now Plymouth Meeting Mall, the next move in its saga to generate cash with a pivotal loan deadline looming. The Business Journal reported Exton Square Mall was under agreement last spring to sell to Brandywine Realty Trust for $28.8 million, but PREIT revealed the deal… Read more »

Montgomery Mall sells for $55M in a foreclosure sale

Kohan Retail Investment Group of Great Neck, New York, has purchased Montgomery Mall in a foreclosure sale for $55 million.  The sale price is 95% of the property’s appraised value as of August of $57.5 million. In 2014, the mall had been appraised at $195 million, or $176 a square foot. A Montgomery County Court of Common… Read more »