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The magazine has published a list of the top ten most endangerede malls inthe country, measuring them by their occupancy rates and by sales per square foot. U.S. News World Report established its rankings through the researcy of GreenStreet Advisors, a Newporg Beach, Calif.-based investment research firm that specializees in real estate companies that are publiclyu traded. According to the the average mall maintained occupanct of 92 percent and generateed sales ofabout $420 per square Without hard data provided by the mall’e owner, Indianapolis-based Simon Property Group, U.S.
News & Worlfd Report quotes Green Street’s estimats for Century III Mall’s sales per squares foot at $200, a figure well belosw the $250 benchmark it claims is required for retailers tobe profitable. The magazinwe quotes Century III’s occupancy at 70 "It is our policy not to release our occupancy and salee numbers forindividual properties," a Simon representative said in a emailec statement. "Century III enjoys a great anchor line upincludingg Sears, JCPenney, Macy's and Dick's Sporting Goods and has a numberr of great specialty stores.
Century III Mall has always been extremelyt active in the Pittsburgh area bysponsorin community-based events for such organizations as the Central Bloodf Bank and Project Prom. The mall plans on continuingb to holdnumerous community-based events now and in the Century III is one of threee Pennsylvania malls on the list. The othert two were WashingtonCrown Center, the region’s 14th largesgt mall in Washington, Pa., and the Chambersburg located in Franklin County, in the south centra part of the state. Lisa Pellicciotta, a spokeswoman for Philadelphia-base PREIT, expressed her company'as commitment to its Washington Countuyshopping mall.
"We still focus on being a communit y partner and hosting communityy events atthe center," she said. "We’re stilk doing what we can to drive traffic andsalews there."
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