Local Management Company Proves That Rumors of Coventry Mall’s Death Are Greatly Exaggerated

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Image via the Philadelphia Business Journal.

The Coventry Mall, which was in bad shape and almost vacant when Montgomery County-based Pennmark Management acquired it in April 2016, has recently boosted its occupancy to 84 percent and has more tenants in the pipeline, writes Natalie Kostelni for the Philadelphia Business Journal.

“There are a couple of deals in the works, and that number can drastically change,” said Pennmark’s Justin Bartholomew.

To ensure the turnaround, Pennmark is focusing on events at Coventry Mall and providing daily services people need. Essentially, the owners aim to turn Coventry Mall into a mini town center for the community.

One of the pending deals is for a daycare, an unusual tenant for a mall. Other nontraditional tenants include Anytime Fitness and Community Health and Dental, as well as a medical center that opened in August.

“It’s a daily traffic driver,” said Bartholomew.

Special events have also helped re-position the mall, with Pennmark hosting them through the year. For example, two food truck festivals were held last year at the mall and drew around 8,000 people.

Read more about Coventry Mall in the Philadelphia Business Journal here.

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