Monday, May 16, 2022

PREIT’s Joe Coradino on 21st Century Malls

When Joe Coradino took the helm of big mall owner PREIT nearly a decade ago, he set a line at an average sales per sq. ft. of at least $500 per center. If a property fell below, it’s future opportunity was evaluated and properties with a weak outlook were disposed. In March of this year, following two years of limited social interaction and month of closed doors a, PREIT’s portfolio-wide sales per sq. ft. average hit $618, a record high for the company. . . . more