Company type | Private |
---|---|
Industry | Commercial real estate |
Founded | 1950 |
Headquarters | Johnstown, Pennsylvania, U.S. |
Key people | Michael A. Barletta, President and CEO |
Products | Hotels, restaurants, office, retail |
Website | crownamericanassociates.com |
Crown American is a privately held American company that manages and develops commercial real estate. The corporate headquarters is in downtown Johnstown, Pennsylvania, in a building designed by architect Michael Graves. [1]
The company was founded in 1950 as Crown Construction. Frank J. Pasquerilla, who joined less than a year later, became president in 1956 and sole owner in 1961. The company's name was changed to Crown American in 1972 and in 1979, it acquired the Hess's department store chain. In 1993, the company split into two entities. The shopping mall portion of the company became a publicly held real estate investment trust, Crown American Realty Trust, and Crown American Hotels controlled the company's hospitality businesses. At its peak, Crown American operated 30 shopping malls, the Hess's department store chain (with 73 locations), and 20 hotels and motels.
In 2003 the shopping mall development and management unit, Crown American Realty Trust, was sold to Pennsylvania Real Estate Investment Trust. [2] The hospitality unit, Crown American Hotels, was retained. In 2005, 22 of the company's 26 hotels were acquired by W2001 Eastern Hotel Realty, an affiliate of the Archon Group, which assumed responsibility for their management. Frank Pasquerilla died from a stroke in 1999. His son, Mark E. Pasquerilla, serves as chairman of Crown American Hotels. Mark Pasquerilla joined the company in 1981 and was named president in 1990. He is a graduate of the University of Notre Dame, completed a master of science degree in international relations at the London School of Economics, and studied international affairs at the University of Cologne. Michael Barletta is president and chief executive officer.
Crown American has owned a total of 30 shopping malls during its history. When they merged with PREIT in 2003, they owned 26 malls, and were partners in one other. [2] [3] Crown American also owned a ground lease for an anchor pad at the Westgate Mall in Bethlehem, Pennsylvania, though they did not own the mall itself. [4]
Mall name | Year opened | Year closed | Location | Owners |
---|---|---|---|---|
Carlisle Plaza Mall [note 1] | 1964 | Carlisle, PA | Crown American 1969–2002; Michael Joseph Development Corp. 2002–2005; Cedar Realty Trust 2005–2012; Giant PA 2012–present [5] | |
Logan Valley Mall | November 1965 | Altoona, PA | Crown American 1965–2003; PREIT 2003–2017; Namdar Realty Group 2017–present [6] | |
North Hanover Mall | 1967 | Hanover, PA | Crown American 1967–2003; PREIT 2003–2014; Namdar Realty Group 2014–present [7] [8] | |
Shenango Valley Mall | 1967 | Hermitage, PA | Crown American 1967–2003; PREIT 2003–2004; Lightstone 2004–2009; JSMN Shenango Valley Mall 2009–2018; Iowa Square Realty LLC 2018–2019; GFM 23 LLC 2019–2022; Butterfli Holdings LLC (FLICORE LLC) 2022–present [9] [10] [11] [12] [13] | |
Nittany Mall | January 1968 | State College, PA | Crown American 1968–2003; PREIT 2003–2014; Namdar Realty Group 2014–present [8] | |
Viewmont Mall | 1968 | Scranton, PA | Crown American 1968–2003; PREIT 2003–present | |
Washington Crown Center | 1969 | Washington, PA | Crown American 1969–2003; PREIT 2003–2016; Kohan Retail Investment Group 2016–present [14] | |
Middletown Mall [note 2] | 1969 | Fairmont, WV | Crown American 1969–1970; Crown American (50%) / First Union Real Estate Equity (50%) 1970–1995; Crown American 1995–1998; Dietrich Steven Fansler 1998–2018; General Acquisitions LLC 2018–present [15] [16] [17] [18] [19] | |
Wyoming Valley Mall | 1971 | Wilkes-Barre, PA | Crown American 1971–1972; Crown American (50%) / First Union Real Estate Equity (50%) 1972–1995; Crown American 1995–2003; PREIT 2003–2019; GS Mortgage Securities Trust 2019–2021; Kohan Retail Investment Group 2021–2023; 4th Dimension Properties 2023–present [15] [16] [20] [21] | |
Uniontown Mall | 1972 | Uniontown, PA | Crown American 1972–2003; PREIT 2003–2015; Namdar Realty Group 2015–present [22] | |
Palmer Park Mall | 1973 | Easton, PA | Crown American (50%) / PREIT (50%) 1973–2003; PREIT 2003–2016; CityView Commercial LLC 2016–present [2] [23] | |
Capital City Mall | 1974 | Camp Hill, PA | Crown American 1974–2003; PREIT 2003–present | |
Valley Mall | August 1974 | Hagerstown, MD | Shopco Malls 1974–1989; ERE Yarmouth 1989–1997; Crown American 1997–2003; PREIT 2003–present [24] | |
South Mall | 1975 | Allentown, PA | Hess's Department Stores, Inc. 1975–1979; Crown American 1979–2003; PREIT 2003–2014; Nicholas Park Mall, LLC. 2014–present [25] [2] [26] | |
Francis Scott Key Mall | 1978 | Frederick, MD | Crown American 1978–2003; PREIT 2003–present | |
Lycoming Mall | 1978 | February 24, 2023 [27] | Pennsdale, PA | Crown American 1978–2003; PREIT 2003–2016, Kohan Retail Investment Group 2016–2023, FamVest Partners LLC 2023–present [28] [29] |
Valley View Mall | 1980 | La Crosse, WI | Equitable Life Insurance Society of the United States Unknown–2002; Crown American 2002–2003; PREIT 2003–present [30] | |
Schuylkill Mall | October 9, 1980 | January 15, 2018 | Frackville, PA | Crown American 1980–2003; PREIT 2003–2007; Empire Reality Investments 2007–2017; NP New Castle LLC 2017–2018 |
Crossroads Mall | 1981 | Beckley, WV | Beckley-Jacksonville Ltd. Partnership Unknown–1998; Crown American 1998–2003; PREIT 2003–2017; Namdar Realty Group 2017–present [31] [32] | |
Jacksonville Mall | 1981 | Jacksonville, NC | Beckley-Jacksonville Ltd. Partnership Unknown–1998; Crown American 1998–2003; PREIT 2003–present [31] [7] | |
West Manchester Mall [note 3] | 1981 | York, PA | Crown American 1981–2003; PREIT 2003–2004; Lightstone 2004–2012; M&R Investors 2012–present [9] [33] | |
Chambersburg Mall | 1982 | June 2023 | Scotland, PA | Crown American 1982–2003; PREIT 2003–2013; Namdar Realty Group 2013–present [34] |
Wiregrass Commons Mall | August 1986 | Dothan, AL | Metropolitan Life Insurance Company Unknown–2002; Crown American 2002–2003; PREIT 2003–2016; Farallon Capital Management 2016–2018; Namdar Realty Group 2018–present [35] | |
Patrick Henry Mall | 1987 | Newport News, VA | Crown American 1987–2003; PREIT 2003–present | |
New River Valley Mall [note 4] | 1988 | Christiansburg, VA | Crown American 1988–2003; PREIT 2003–2016; Farallon Capital Management 2016–2019; RockStep Capital 2019–present | |
Oak Ridge Mall [note 5] | 1989 [note 6] | 2016 | Oak Ridge, TN | Crown American 1989–2003; Crown Investments Trust 2003; Oak Ridge City Center LLC 2003–2016; RealtyLink (TN Oak Ridge Rutgers LLC) 2016–present [36] [37] |
Phillipsburg Mall | 1989 | 2020 | Phillipsburg, NJ | Crown American 1989–2003; PREIT 2003–2013; Namdar Realty Group 2013–present [2] [38] |
Ashland Town Center | 1989-10-04 | Ashland, KY | Crown American 33% / Glimcher Realty 33% / Edward J. DeBartolo Corporation 33% 1989–unknown; Glimcher Realty unknown–2015; Washington Prime Group 2015–present [39] [40] | |
Martinsburg Mall [note 7] | 1991 | Martinsburg, WV | Crown American 1991–2003; PREIT 2003–2004; Lightstone 2004–2009; Jones Lang LaSalle 2009–2012; Mountain State University 2010–2013; Paramount Developers 2013–present [9] [41] [42] | |
Bradley Square Mall | 1991 | Cleveland, TN | Crown American 1991–2003; PREIT 2003–2004; Lightstone 2004–2009; The Shane Morrison Companies 2009-present [9] [41] | |
Mount Berry Square | 1991 | Rome, GA | Crown American 1991–2003; PREIT 2003–2004; Lightstone 2004–2009; Jones Lang LaSalle 2009–2012; Hull Property Group 2012-present [9] [43] [44] |
PREIT is a privately held company that owns and develops shopping centers, mostly in the Mid-Atlantic states. The company was formerly known as Pennsylvania Real Estate Investment Trust.
Simon Property Group, Inc. is an American real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indianapolis, Indiana. Worldwide, it owns interests in 232 properties as of 2021.
Mount Berry Mall, previously named Mount Berry Square, stands as a single-level enclosed shopping destination situated in Rome, Georgia. Serving as the sole enclosed mall within the city, it first opened its doors in 1991. The mall features Belk and Dunham's Sports as its anchor stores and is currently under the ownership and management of the Hull Property Group.
CBL Properties is an American real estate investment trust that invests in shopping centers and owns shopping malls, primarily in the Southeastern and Midwestern United States. The company is organized in Delaware with its headquarters in Chattanooga, Tennessee.
Wyoming Valley Mall is a shopping mall located in Wilkes-Barre Township, Pennsylvania. It is anchored by JCPenney and Macy's.
Moorestown Mall is a shopping mall in Moorestown, New Jersey, owned by Pennsylvania Real Estate Investment Trust. The mall has over 90 stores and is anchored by Boscov's, Regal Cinemas, Turn 7 Liquidators and Cooper University Health Care - Moorestown Campus. Junior anchors are Five Below, HomeSense, Michaels, and Sierra Trading Post, all located in a converted Macy's anchor store.
Palmer Park Mall is an indoor one-story shopping mall of 457,734 square feet (42,524.9 m2) located in the Lehigh Valley region of eastern Pennsylvania. The mall is located at the intersection of PA Route 248 and Park Avenue in Palmer Township, Pennsylvania.
The Plymouth Meeting Mall is a 948,000 square feet (88,100 m2) shopping mall that is located in the community of Plymouth Meeting in Plymouth Township, Pennsylvania, approximately 17 miles (27 km) northwest of Center City, Philadelphia.
Springfield Town Center is an enclosed shopping center located in the Springfield census-designated place (CDP) of unincorporated Fairfax County, Virginia. It opened in 1973 as Springfield Mall, an enclosed shopping mall, which closed on June 30, 2012 as part of a multimillion-dollar redevelopment plan to turn it into a multifaceted "Town Center"-style shopping center with a main indoor area similar to the nearby Tysons Corner Center and Dulles Town Center, while transforming the exterior into a pedestrian friendly environment with restaurants with cafe style outdoor seating and entrances. It is located at the intersection of Interstate 95 and Franconia Road, which is part of the Springfield Interchange, 1/4 mile north of Franconia-Springfield Parkway and the Franconia-Springfield Metro station. The mall reopened on October 17, 2014 following its two-year renovation.
Glimcher Realty Trust was a real estate investment trust based in Columbus, Ohio that invested in shopping malls. In 2015, the company was acquired by Washington Prime Group.
Chambersburg Mall is an abandoned enclosed shopping mall located near Chambersburg, Pennsylvania in the unincorporated community of Scotland. Located at exit 20 off Interstate 81, the mall had a capacity of at least 64. It is currently owned and managed by Namdar Realty Group. The mall's anchor stores and last remaining store, inaccessible from the mall interior, was Black Rose Antiques & Collectibles. There are 3 other vacant anchor stores that were once JCPenney, Burlington, and The Bon-Ton.
The South Mall is an enclosed shopping mall located on Lehigh Street south of Interstate 78 exit 57 near Allentown's southern border with Salisbury Township and Emmaus in the Lehigh Valley region of eastern Pennsylvania.
Phillipsburg Mall was an indoor shopping mall located along U.S. Route 22 in Warren County, New Jersey, United States. Despite its name, the mall was actually located on the border of Lopatcong Township and Pohatcong Township, just east of Phillipsburg.
The Logan Valley Mall is a regional shopping mall that is located in Altoona, Pennsylvania, United States. It is currently anchored by JCPenney and Macy's and features more than 50 stores and services on two levels.
Uniontown Mall is a regional enclosed shopping mall in South Union Township, Pennsylvania, just outside the city of Uniontown. The anchor stores are JCPenney, TTEC and Crossfit Uniontown. There are four vacant anchor stores that were once The Bon-Ton, Sears and Burlington Coat Factory, as well as AMC Theatres, which departed abruptly in mid 2021.
Wiregrass Commons Mall is an enclosed shopping mall located in Dothan, Alabama. It has 638,554 square feet (59,000 m2) of shopping with over fifty retail stores and a food court with a carousel. It is Southeast Alabama's largest and only shopping mall. The mall's anchor tenants are Belk, Dillard's, and JCPenney.
Shenango Valley Mall was a shopping mall located in Hermitage, Pennsylvania opened on March 13, 1968. The mall was shuttered following the closure of its final anchor store, JCPenney, on May 31, 2024.
Kohan Retail Investment Group is a shopping mall investment company based in Great Neck, New York. They specialize in malls and retail spaces as well as hotels.
Jacksonville Mall is a shopping mall located in Jacksonville, North Carolina. It is anchored by Belk and JCPenney. The mall is located near Camp Lejeune.
Namdar Realty Group is an American shopping mall investment company based in Great Neck, New York. They primarily purchase dying or dead shopping malls with partner Mason Asset Management. Namdar and Mason are both family owned, and as of 2021, own over 400 properties including 100 plus malls.
In 2014, Namdar bought Nittany and a similar Pennsylvania mall, North Hanover Mall, for $32.3 million. They were sold by a Pennsylvania real estate trust called PREIT that has unloaded more than a dozen malls in an attempt to pay down its debt load.
{{cite web}}
: CS1 maint: multiple names: authors list (link)