PREIT Sells 50 Percent Interest in Springfield Park in Pennsylvania for $20.2M

SPRINGFIELD, PA. — PREIT has sold its 50 percent interest in Springfield Park, an open-air center located in Springfield, for $20.2 million. The 287,000-square-foot retail center is anchored by Target and Bed, Bath & Beyond. The name of the buyer was not disclosed. The sale represents the company’s continued effort to recycle its capital toward creating a portfolio comprised of high-quality enclosed malls.