Pennmark Management Company has acquired the Coventry Mall in Pottstown, Pennsylvania for an undisclosed price. Funding for the retail center would come from a $60 million fund established in November 2015. Located at 351 W. Schuylkill Road, the 796,869 sqf mall consists of an enclosed regional mall, a neighboring strip and three additional outparcel developments. Originally constructed in 1966 the center is anchored by Boscov’s, Kohl’s and Dick’s Sporting Goods. A fourth anchor space was previously occupied by Sears. Pennmark focuses on Mid-Atlantic area investments across retail centers in secondary and tertiary markets.
“We appreciate the strong support of our communities and local government agencies. We believe the robust interest in rural communities is an acknowledgement of our successful focus on opportunistic investments in real estate,” said Pennmark CFO Robert Sichelstiel
