In another move to shear from its portfolio properties that are not top performers, Pennsylvania Real Estate Investment Trust (PREIT) – parent company of the Exton Square Mall – announced it is selling the anchor pad under a Bon-Ton store in Bethlehem, next to the Westgate Mall.

The Morning Call is reporting this doesn’t mean the store will close.  It’s just getting a new landlord:

PREIT did not name the buyer or purchase price, but said the deal will close by the end of the year.  Just a week ago PREIT also announced the imminent sale of its Nittany and North Hanover Malls.

“This transaction represents another step in our program of selling non-core assets and recycling the capital generated into more productive, higher-quality properties with stronger growth profiles,” said Joseph F. Coradino, PREIT CEO. “Over the past 20 months, we have sold or entered into contracts to sell 12 properties generating expected proceeds of approximately $400 million, including the joint venture interest in The Gallery.”

Businesses and special events are running as usual at the Exton Square Mall, which is planning a Be Alive and Thrive event Sept. 26-27 in the North Court, both upper and lower levels. The free community event will showcase groups promoting suicide prevention as well as body and mind wellness.