Pennmark buys Coventry Mall in Pottstown
Plymouth Meeting-based Pennmark Management Co. has purchased the 797,000-square-foot Coventry Mall in Pottstown, commercial real estate firm CBRE said in a release on Monday.
Plymouth Meeting-based Pennmark Management Co. has purchased the 797,000-square-foot Coventry Mall in Pottstown, commercial real estate firm CBRE said in a release on Monday.
Pennmark plans to add restaurants and entertainment venues to the property, now anchored by Boscov's, Kohl's and Dick's Sporting Goods, according to CBRE, which helped broker the deal. A fourth anchor space was previously occupied by Sears.
The mall is the first of several planned investments through a $60 million fund that closed in November 2015, Pennmark principal Donald F. Cafiero said in the release. CBRE did not immediately respond to an email seeking the Coventry Mall's sale price and other details of the transaction.
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