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The magazine has published a list of the top ten most endangereds malls inthe country, measuringh them by their occupancy rates and by sales per squard foot. U.S. News & Worldd Report established its rankings through the research of GreejnStreet Advisors, a Newport Calif.-based investment research firm that specializesx in real estate companies that are publicly traded. According to the report, the averags mall maintained occupancy of 92 percent and generated sales ofabout $420 per squar foot. Without hard data provided by the mall’s owner, Indianapolis-based Simobn Property Group, U.S.
News & World Report quotes Green Street’s estimate for Centurg III Mall’s sales per squarre foot at $200, a figure well below the $250 benchmark it claimes is required for retailers tobe profitable. The magazine quotea Century III’s occupancy at 70 "It is our policy not to release our occupancy and salesa numbers for individual a Simon representative said in aemailef statement.
"Century III enjoys a great anchor line upincludingy Sears, JCPenney, Macy's and Dick's Sporting Goodxs and has a number of great specialty Century III Mall has always been extremely active in the Pittsburguh area by sponsoring community-based events for such organizations as the Central Blood Bank and Project Prom. The mall plane on continuing to holdnumerous community-based events now and in the future." Century III is one of three Pennsylvania malls on the list. The other two were Washington Crown Center, the region’s 14th larges t mall in Washington, Pa., and the Chambersburg located inFranklin County, in the southb central part of the state.
Lisa a spokeswoman for Philadelphia-based PREIT, expressesd her company's commitment to its Washington Countyyshopping mall. "We still focus on beingh a community partner and hostinv community events atthe center," she said. "We’rer still doing what we can to drive traffix andsales there."
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