Happy New Year!

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2020 has been called many things. At PREIT, we are calling it the YEAR OF ADAPTATION. We have all adapted in ways we never thought possible. Our team stepped up and developed new processes and managed new experiences while always keeping our tenants and customers top of mind as we navigated the unexpected.

We adapted to WORKING FROM HOME even if we thought it would only last a few weeks. Our associates juggled a variety of new roles (teacher, IT expert, office manager, chef) while putting their best feet forward at work as we shifted our focus from our traditional measures of success – traffic and sales- to health, safety and community.

We adapted to operating closed facilities for the sake of keeping our community and employees safe, developing protocols and procedures to close them and focused on SUPPORTING OUR TENANTS AND OUR COMMUNITIES by offering our space for community-based support initiatives including blood drives, food drives and partnering with our food and beverage tenants to deliver meals to front line workers. We found ways to allow any permitted tenants to operate including fulfilling online orders and takeout options.

At the same time, at the corporate level, we organized around initiatives to STRENGTHEN OUR BUSINESS MODEL as our world was turned upside down, creating new committees, encouraging new levels of teamwork, developing regular check-in mechanisms and re-prioritizing our initiatives to ensure a bright future.

During the closure periods, our teams worked around the clock to anticipate REOPENING needs, develop new protocols, order supplies, re-orient our properties to our new protocols and create new programs that would ultimately ensure the vitality of the businesses in our centers.

We created our own branded contactless pickup option, MALL2GO, available to any retailers that choose to participate and at every property. We launched our very first e-commerce platform, SMALL SURPRISES, which delivers curated surprise packs from our malls to customers – both of these programs designed to help ensure continuous operations for our tenants while promoting overall health and safety. We also created Park and Play, an event series utilizing our vast parking lot networks to engage our communities and create a safe place for our customers to be entertained. We also devised new holiday procedures including purchasing plexiglass barriers to keep Santa and his visitors at a safe distance and even organized virtual visits with Santa!

We, and all of our business partners, adapted to new realities; we made tough decisions and came out stronger.

As we LOOK AHEAD, we plan to continue our first-mover legacy and reinventing our platform through the creation of diverse and expansive environments, marked by a healthy mix of uses including apartment units, hotels, entertainment, dining, health & wellness, green space, working space, and local small business retail all wrapped around our retail core!

We are so proud of what the team accomplished in a totally unanticipated environment and how we all ADAPTED in an ever-evolving situation.

From our family to yours, we wish you a happy, healthy and prosperous 2021. We are grateful for your support!

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