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PREIT completes South Mall sale, agrees to sell two more
Philadelphia — Pennsylvania Real Estate Investment Trust has completed the previously announced sale of South Mall in Allentown, Pennsylvania, for $23.6 million. Net of closing costs, settlement pro-rations and credits, proceeds from the transaction totaled approximately $23.1 million.
In addition, PREIT has entered into an Agreement of Sale to dispose of its two remaining non-core malls — Nittany Mall and North Hanover Mall.
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Sam’s Club opens new Kansas City store June 26
Bentonville Ark. - Sam’s Club will open a new Kansas City, Missouri store on June 26. Measuring approximately 136,000-sq.-ft., the new store will feature a variety of members-only amenities, including a fresh bakery, a tire and battery center, a café and a fuel station.
To staff the new Kansas City store, Sam’s Club has hired more than 180 new associates.