Dec
22
Springfield Town Center Delivers $505 PSF in Sales
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SPRINGFIELD, VA—Pennsylvania REIT reports tha tSpringfield Town Center has recorded $505 per square foot in sales for tenants with less than 10,000 square feet open during the center’s first full year of operation after its renovation. Or put another way, sales by these tenants were 18% above the company’s portfolio as of September 30, 2015.
The past year’s performance was closely watched. The renovation of the 1.35-million mall, begun and largely completed by the previous owner, Vornado Property Trust, represented a significant financial investment as well as intutive bet that the affluent local market would respond positively to the redesign…
Springfield Town Center Delivers $505 PSF in Sales
