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PENNSYLVANIA REAL ESTATE INVESTMENT TRUST

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Pennsylvania Real Estate Investment Trust : Spotlight on Patrick Henry Mall

06/16/2021 | 08:12am EDT

Patrick Henry Mall is conveniently located in Newport News, VA right off the region's main highway, I-64 - delivering over 300,000 vehicles past the center per day.

Within 20 miles of the center there are 7 military installations, large employers like Huntington Ingalls industries, and Riverside Medical Center, which contribute to a day-time population of over 635k. On the Hampton Roads Peninsula, there are 48 hotels that cater to the thriving local tourism industry. Newport News is a highly populated area with continued demand for commercial real estate.

At over 715k square feet, Patrick Henry Mall is the dominant enclosed shopping center on the Hampton Roads peninsula and is the only enclosed mall between Norfolk and Richmond. The center has something to satisfy the needs of every shopper, offering a unique retail mix of traditional department stores, coveted brands, entertainment options, and delicious dining. Signifying the strength of the property in the region, Patrick Henry Mall has consistently generated more traffic than comparable periods since its reopening following the pandemic-related closures.

The property offers a one-stop-shop for the community with retail favorites like H&M, Forever 21, Pandora, Vans, Victoria's Secret/PINK, Dick's Sporting Goods, Dillard's and the only Macy's in the area. Windsor and Papaya will soon join the mix, offering popular price trends. The property also boasts over 15 local Black-owned businesses and brands including SAGE Beauty Lounge, Shoe Gods, and Glamorous Me Boutique! Completing the experience are restaurant, snack and entertainment offerings that make the mall a great place to grab a bite or have some fun, featuring options like family entertainment destination Tilt Studio, Red Robin and newly opened Twisted Crab Seafood & Bar, Red Robin, and Great American Cookies.

To learn more about leasing opportunities, contact:

Visit Patrick Henry's property pagefor more details.

Disclaimer

PREIT - Pennsylvania Real Estate Investment Trust published this content on 16 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2021 12:11:03 UTC.


© Publicnow 2021
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Sales 2021 - - -
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Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 152 M 152 M -
Capi. / Sales 2021 -
Capi. / Sales 2022 -
Nbr of Employees 175
Free-Float 70,6%
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Managers and Directors
Joseph F. Coradino Chairman-Trustees Board & CEO
Mario C. Ventresca Chief Financial Officer & Executive Vice President
Bradford Hughart Vice President-Information Technology
Rudolph Alberts Senior Vice President-Operations
Lisa M. Most Secretary, Chief Compliance Officer & Executive VP