VIENNA, WV–It is not easy being a retail REIT these days, or aretailer for that matter. Yet Washington PrimeGroup has been finding success with its strategy ofrepositioning anchors at its malls across the US, including itsholding in Vienna, West Virginia, Grand CentralMall. The REIT recently announced it has secured a20,000-square foot H&M for the mall, replacinga former Elder Beerman department store. It will be H&M's firstlocation in West Virginia when the store opens in the fall of thisyear.

All told the REIT has repositioned, or is in the process ofrepositioning 15 anchors since 2015, according to CEO LouConforti. “Anchor repositioning is a testament to ourhybrid model of combining enclosed and open air formats within asingle convenient location,” he said in a prepared statement.Recently-announced tenants include ALDI, Party City,PetSmart, Ross Dress for Less, Round 1 and TheRoom Place.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.