If the Manchester unit's closing results in the lease being rejected by the bankruptcy court, Kramont stands to lose just three-tenths of 1% of total annualized minimum rents, according to a statement from the REIT.
All seven Kmarts at Kramont properties account for about 3% of the REIT's total annualized minimum rents.
Meanwhile, and unrelated to Kramont's relative good fortune in respect to Kmart, the state of Pennsylvania fared better than many when the retailer cut 326 stores from its nationwide roster. Six Big K's will close in the commonwealth. They are in Duquesne, Flourtown, Gibsonia, Mill Hall, Phoenixville, and York, PA.
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