Plymouth Meeting
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With FDA Decision Looming, Plymouth Meeting’s Inovio Cuts Workforce to Preserve Cash
Over the past year, Plymouth Meeting-based Inovio Pharmaceuticals has reduced its workforce by 16 percent to preserve cash as it waits for the Food and Drug Administration ruling on its new drug application, writes John George for the Philadelphia Business Journal. The FDA will determine by October 30 whether INO-3107, an experimental therapy from Inovio…
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Adults Take Over LEGOLAND This Friday at Plymouth Meeting Mall
If you’ve ever wished you could wander through LEGOLAND without weaving around strollers or stepping over toddlers, your moment has arrived. This Friday night, the LEGOLAND® Discovery Center Philadelphia in Plymouth Meeting is throwing open its doors for an Adults-Only Holiday Bricktacular, and it’s shaping up to be one of the most playful nights of…
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Plymouth Meeting DoubleTree Suites by Hilton Closed Last Week
The DoubleTree Suites by Hilton Hotel Philadelphia West, owned by Kingsbury Hospitality REIT, permanently closed its doors in Plymouth Meeting last week, writes Emma Dooling for the Philadelphia Business Journal. The 253-key hotel that was built in 1987 on 7.9 acres, was acquired by its current owner for $22.3 million in April 2022. North Carolina-based…
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$100M Redevelopment Aims to Turn Plymouth Meeting Mall Into Montco’s Next Town Center
A major transformation is on the horizon for the Plymouth Meeting Mall, writes Paul Schwedelson for The Philadelphia Business Journal. Philadelphia-based LA Partners, formerly known as Lubert Adler Real Estate Funds is under contract to purchase the 110-acre property. The firm plans to invest more than $100 million into redeveloping the aging Montgomery County site…
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Wall Street Journal: Amazon Shaking Up Whole Foods with Backroom Robots
Amazon is rolling out a new backroom system at a local Whole Foods Market that could redefine the chain’s natural-food image by adding more mainstream food options, writes Owen Tucker-Smith for The Wall Street Journal. The Plymouth Meeting store may be among the first to deploy ShopBots, robots designed to retrieve items like Doritos, Tide…
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Plymouth Meeting Office Building Sells for $5.2M, One-Third of 2018 Price
FLD Group of Eatontown, New Jersey, and New York’s Adjmi family has acquired the Plymouth Meeting office building at 2250 Hickory Road for $5.2 million, writes Paul Schwedelson for the Philadelphia Business Journal. The two developers purchased the 83,000-square-foot building just north of Plymouth Meeting Mall because it sits next to the Plymouth Meeting Executive…
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WSJ: Amazon Pilots Innovative Grocery Model at Plymouth Meeting Whole Foods
Plymouth Meeting’s Whole Foods is testing an innovative grocery format for Amazon, blending online offerings with in-person shopping reports Liz Young for the Wall Street Journal. The store will feature a micro-fulfillment center carrying Amazon Fresh groceries and household items, enabling customers to place orders on their phones while shopping and pick them up at…
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Large Plymouth Meeting Executive Campus Sells for Steep Discount
FLD Group and the Adjmi family have purchased the Plymouth Meeting Executive Campus for $65.5 million, writes Paul Schwedelson for Philadelphia Business Journal. The price tag was significantly below initial market expectations of over $100 million. The five-building, 521,288-square-foot Class A office complex sold for $126 per square foot, a 14% price drop from its…
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Plymouth Meeting’s Biscuit Lady Traded Her Corporate Job for New Life Making Amazing Biscuits
Tara Torrence decided to leave her job at a mortgage company and focus on something she knew she was great at: making amazing biscuits, writes Michael Klein for The Philadelphia Inquirer. In just two years, she went from working in her home kitchen to a Wissahickon shared space to her new freestanding restaurant in Plymouth…
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PA Turnpike Unveils Northeast Extension Plan from Plymouth Meeting: What to Expect
Plans for the Pennsylvania Turnpike Northeast Extension to widen the road from four to six lanes from Plymouth Meeting to the Lehigh Valley Interchange with Route 22, are slowly moving forward, writes Evan Jones for The Morning Call. While construction is not expected to start soon, plans are slowly being introduced to the public. The…
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NYSE Suspends Shares of PREIT, Springfield Mall Owner
Pennsylvania Real Estate Investment Trust, the owner of the Springfield Mall, Plymouth Meeting Mall, and Willow Grove Park Mall, is being booted off the New York Stock Exchange as PREIT shares trade at $2.40 a share, writes Rich Bockmann for The Real Deal. On Thursday, the exchange announced it would suspend trading of the PREIT…
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Plymouth Meeting Candy Maker’s Holiday Gifts Will Stick in Recipients’ Memories: Gourmet Marshmallows
Dana Hermann, a Plymouth Meeting native, created Malvern Road Marshmallows after she found some comfort from what was going on around her during the pandemic, writes Mary English for The Pottstown Mercury. Her gourmet marshmallows turned out to be a hit with her family, and she realized she could make them herself for less money…
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Springfield Malls’ PREIT Releases KPMG as Auditor After 2 Decades
PREIT has dismissed their auditor KPMG, and has brought on a new accounting firm, says the Securities and Exchange Commission. Natalie Kostelni reports the latest PREIT news for the Philadelphia Business Journal. The new PREIT auditor is BDO USA LLP a part of BDO International, a global accounting network headquartered in Chicago. PREIT terminated its…
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Springfield Malls’ PREIT Faces Investor Challenge
Pennsylvania Real Estate Investment Trust (PREIT), the owner of Plymouth Meeting Mall and Willow Grove Mall, faces another challenge as it continues to struggle to get its share price above $1, writes Natalie Kostelni for the Philadelphia Business Journal. Cygnus Capital, an Atlanta-based owner of PREIT’s outstanding preferred shares, put the Philadelphia-based owner of the…
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PREIT, Owner of Springfield Mall, Issues First-ever Sustainability Report
Pennsylvania Real Estate Investment Trust (PREIT), the owner of the Springfield Mall, has issued its inaugural sustainability report. The report highlights PREIT’s efforts to position its properties as pillars of their communities by sustaining jobs, hosting events that bring community members together, reducing the environmental impact, and supporting organizations that provide for those in need.…
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Radnor’s Brandywine Realty Expands Life Science Centers in Plymouth Meeting
Brandywine Realty Trust is developing the new Metroplex Corporate Center in Plymouth Meeting for life science research and manufacturing, writes Natalie Kostelni for Philadelphia Business Journal. The center on Chemical Road will have a single-story, 100,000-square-foot building for manufacturing and a 125,000 square-foot building for labs and offices. The Metroplex Corporate Center is part of…
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Springfield Mall Owner Retains Spot on NYSE After Its Stock Price Stabilizes Following Emergence from Bankruptcy
Pennsylvania Real Estate Investment Trust, owner of the Springfield Mall, Plymouth Meeting Mall and Willow Grove Park, has managed to dodge being delisted from the New York Stock Exchange. The share price stabilized following its exit from bankruptcy after new leeway was given by its creditors, writes Jacob Adelman for The Philadelphia Inquirer. PREIT said…
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Springfield Mall Owner Sending Curated Surprise Boxes to Shopper’s Homes
With COVID-19 concerns still on everyone’s minds, PREIT, owner of the Springfield Mall, is attempting to entice customers to patronize their mall retailers in an innovative way, reports PYMNTS.com. Taking a cue from services like Loot Crate, PREIT is now allowing customers to have surprise boxes sent to their homes, containing a variety of items…
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