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PREIT: Matching Mall And Grocer
Turns out, malls and grocers were made for each other.
A few years ago, Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) renovated Plymouth Meeting Mall in Philadelphia’s northwestern suburbs.
The renovation replaced an old Ikea on the site with a lifestyle component called Plymouth Meeting Mall’s Plaza Shops, which leads customers to the mall entrance.
PREIT brought in a 65,000-sq.-ft. Whole Foods Market as the anchor.
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Grocery Evolution
Widening competition for commodity grocery sales is changing grocery-anchored shopping centers.
Supermarket-anchored shopping centers haven't changed much since the invention of suburbia. Find a good location, sign a grocery anchor, get a construction loan and some inline local, regional and maybe national retailers, and you're in business.
Today, however, supermarkets are beginning to change, and supermarket-anchored shopping centers, of course, must follow along.
Why are grocers changing? Competition from all sides.

