Pennsylvania Real Estate Investment Trust announced closure of the 118,000 square foot JCPenney store at its Exton Square Mall. PREIT looks forward to incorporating the JCPenney building into its planned redevelopment of the mall which is expected to follow the recapture of an existing Kmart location, ideally located with extensive frontage along heavily traveled Route 100 in Exton, Pennsylvania. Exton Square Mall is located in Chester County, whose exceptional demographics include the hige incomes in Pennsylvania.

According to demographic data, 37.5% of households in the trade area exceed $100,000, which significantly exceeds the state average. Further demonstrating the strength of the market, average home values in the trade area are 75% higher than the state average.