Lancaster: Two new centers anchored by Lancaster County’s first Whole Foods and Wegmans locations opened in 2018, including Crossings at Conestoga Creek (210,000 sq. ft. retail) in Q4 2018.
Urban Retail: In a historic year for Center City retail development, East Market (130,000 sq. ft. retail) debuted in Q4 2018, one quarter after Lincoln Square (85,390 sq. ft. retail) opened.
Capital Markets: Just one grocery-anchored shopping center traded in 2018, signaling a pricing disconnect between buyers and sellers that will likely break in 2019.
Big Box Innovation: In 2018, PREIT successfully repositioned vacant anchor boxes in the Plymouth Meeting and Willow Grove Park Malls, providing a national model for landlords.
Key New Tenants: Chase Bank, Sprouts Farmers Market, F45, and P.J. Clarke’s opened their first Philadelphia MSA locations in 2018.