PREIT: Black Friday traffic up significantly at re-done properties

Al Urbanski
Real Estate Editor & Manager
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Woodland Mall
The new West Wing at Woodland Mall in Grand Rapids, Mich.

PREIT, one of the nation’s leading owners of traditional malls, reports that traffic at two of its properties benefitted from wholesale renovations over Black Friday weekend.

The company credited the opening of an expansion wing at Woodland Mall in Grand Rapids, Mich., for a 29% rise in Black Friday traffic compared to 2018. Recent openings at the property included Von Maur, Urban Outfitters, The Cheesecake Factory, and Black Rock Bar & Grill. 

At Plymouth Meeting Mall in the Pennsylvania town of the same name, traffic was up 24% over last year, spurred by the openings of Dick's Sporting Goods, Burlington, Miller's Ale House, and Edge Fitness in the former Macy's space there.  

"This notable upswing in traffic at properties where we've made significant investments is a testament to the strength of our strategy and the potential for a sustained, long-term impact on sales productivity,” said CEO Joseph F. Coradino.