Will PREIT's Worst Malls Die -- or Will They Evolve? [The Motley Fool]
Macy's Inc (M)
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Source: The Motley Fool
Will PREIT's Worst Malls Die -- or Will They Evolve? Last week, I described how Pennsylvania Real Estate Investment Trust ( NYSE:PEI continue to thrive headwinds affecting the retail sector However, not every PREIT mall is performing well. As part of my Philadelphia-area property tour over Labor Day weekend, I also visited three of the Competing with Goliath In a way, the three struggling PREIT malls that I visited are all suffering from the same problem: Each is located in the vicinity of a larger and far more successful mall. With overall mall traffic declining, tenants and customers are gravitating toward the larger, higher-traffic properties, creating the risk of a vicious spiral for PREIT's lower-tier malls. Weaker malls like Exton Square Mall are quickly being left behind in today's retail environment. Image source: Author. In the case of Moorestown Mall, the stronger competitor is PREIT's very own Cherry Hill Mall, which is less than four miles away. Cherry Hill Mall's gross le
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