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Displaying items by tag: Pennsylvania Real Estate Investment Trust

As national trends show a rapid decline in the value of shopping malls, West Michigan commercial real estate experts are most worried about the fate of RiverTown Crossings in Grandville.

Sunday, 08 November 2020 09:58

MiBiz Growth Report: November 8, 2020

Here is the MiBiz Growth Report for November 8, 2020.

Published in Economic Development

GRAND RAPIDS — Woodland Mall owner Pennsylvania Real Estate Investment Trust (PREIT) has filed for Chapter 11 bankruptcy as mall tenants across the company’s portfolio have struggled to pay rent during the COVID-19 pandemic.

Published in Economic Development

GRAND RAPIDS — Woodland Mall is inviting shoppers to “rediscover” the center after its $100 million redevelopment, which has paved the way for a wave of new retailers. 

With the retail sector undergoing seismic shifts to its traditional bricks-and-mortar business model, large malls and shopping centers continue to seek out new ways to remain relevant in the future.

A new kind of institutional investor has started to capitalize on opportunities in West Michigan.

The retail real estate sector could be on the verge of a major upheaval, beyond the near steady stream of headlines about brick-and-mortar store closures and bankruptcies in recent weeks.

GRAND RAPIDS — Two stalwart West Michigan retailers are closing up shop, opening up valuable real estate at a time when space is at a premium in the region.

The ongoing build out of a new Apple Inc. store at Woodland Mall in Grand Rapids makes for just one of many changes at the region’s oldest enclosed shopping center.

Published in Breaking News