CBRE - PREIT seeks partners to add non-retail tenants to Philadelphia area mall

PREIT (PEI) hires real estate services firm CBRE (CBRE) to expand the uses and broaden the tenant base of its Plymouth Meeting Mall outside of Philadelphia and complements the company's "multi-use destination effort already underway."The mall owner retained CBRE to seek development and investment partners in non-retail sectors including life sciences, biotech, education, and others, as well as conventional office users, the company said."The synergistic additions of office users will benefit our existing tenants and communities by increasing visits to the property and delivering a new customer," said PREIT CEO Joseph F. Coradino.PEI is down 3.4% in after-hours trading.

For further details see:

PREIT seeks partners to add non-retail tenants to Philadelphia area mall