Endangered PA Malls

Found on Yahoo Finance:

"America's most endangered malls" by Rick Newman

Three of the 10 listed are in PA:

Century III Mall, Pittsburgh, Pa. (Occupancy rate: 70 percent; sales per square foot: $200*). About 30 of the 120 stores at this suburban Pittsburgh mall have closed recently, including anchor tenant Steve & Barry's and KB Toys (both of which have declared bankruptcy), Old Navy, Ruby Tuesday's, and Macy's Furniture Outlet. The 30-year-old complex targets value shoppers but competes with nearby discounters like Wal-Mart and Kohl's. Other area malls with more upscale stores are doing better. Century's owner, Simon Property Group, may be looking to sell Century III.

Chambersburg Mall, Chambersburg, Pa. (62 percent; $234). Sales have held steady over the past year, but a bucolic location 60 miles southwest of Harrisburg makes this sleepy mall a perennial underperformer. K.B. Toys, Value City, and B. Moss closed their stores after declaring bankruptcy. Newcomers include discounters like Bolton's and Burlington Coat Factory, which are likely to generate little excitement.

Washington Crown Center, Washington, Pa. (70 percent; $265). Three of its biggest retailers--Macy's, Bon-Ton, and Gander Mountain--have suffered deep losses as consumers have cut spending. The mall's owner, Pennsylvania Real Estate Investment Trust, is revamping some of its properties--but not Washington Crown Centre, one of the weakest malls in its portfolio. PREIT could end up selling some of its subpar properties, which leaves this mall vulnerable.