Chambersburg Mall
| Location | Chambersburg, Pennsylvania, USA |
|---|---|
| Opening date | 1982[1] |
| Management | Mason Asset Management |
| No. of stores and services | 56 |
| No. of anchor tenants | 4 |
| Total retail floor area | 454,350 square feet (42,000 m2)[1] |
| Website | http://www.shopchambersburgmall.com/ |
Chambersburg Mall is a regional shopping mall located near Chambersburg, Pennsylvania in the unincorporated community of Scotland. Located proximate to exit 20 off Interstate 81, the mall has 56 stores and a capacity of 64 as of December 2008.[2]
History
Chambersburg Mall opened in 1982 under Crown American mall developers with Hess's, Sears, Gee Bee, and Carmike Cinemas. Bon-Ton was added in 1985 as Eyerly's.[3] Over time, Hess's closed all of its stores and the mall's store was replaced with JCPenney, which moved from a plaza in downtown Chambersburg. Gee Bee stores folded in 1992 and were taken over by Value City which itself closed completely in 2008. The store was replaced with Burlington Coat Factory. Rex Electronics also briefly occupied a space in the mall. Chambersburg Mall had as many as 75 stores at its peak, but due to competition from newer shopping centers in the area, the number of stores has dwindled down to approximately 55.
Present
Crown American's mall portfolio was acquired by Pennsylvania Real Estate Investment Trust (PREIT) in 2003. Chambersburg Mall has four major anchor stores: Bon-Ton, JCPenney, Sears, and Burlington Coat Factory. It also still has the Carmike Cinemas seven-theater complex. In 2009, U.S. News & World Report named the mall one of the 10 most endangered in the United States, calling it a "sleepy mall a perennial underperformer". The mall has an occupancy rate of 62 percent and sales of $234 per square foot.[4] As of May 2012, the mall has been for sale once again. A 10/29/13 report by the Chambersburg Public Opinion confirmed that an unknown party has put a non-refundable deposit on the mall.[5] In November 2013, the mall was officially sold to Mason Asset Management for $8.8 million.[6] PREIT expects the net proceeds from the sale to be $8.4 million.[6]
Events
Chambersburg Mall hosts events and drives for local establishments, most notably, the Pennsylvania State University.[7]
See also
- List of malls in Pennsylvania
References
- ↑ 1.0 1.1 "Chambersburg Mall Fact Sheet". PREIT. Retrieved May 2, 2011.
- ↑ http://www.shopchambersburgmall.com/directory/main_level
- ↑ http://news.google.com/newspapers?id=xKFdAAAAIBAJ&sjid=-VwNAAAAIBAJ&pg=713%2C1796599&dq=chambersburg-mall+bon-ton&hl=en
- ↑ Newman, Rick. 26 June 2009, U.S. News & World Report, "America's Most Endangered Malls". Accessed 24 December 2011.
- ↑ http://www.publicopiniononline.com/local/ci_24408796/sale-chambersburg-mall-under-contract
- ↑ 6.0 6.1 http://www.publicopiniononline.com/local/ci_24553074/chambersburg-mall-sold-8-8m
- ↑ http://ma.psu.edu/Information/News/29770.htm
External links
Coordinates: 39°57′18″N 77°34′30″W / 39.955°N 77.575°W