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KING OF PRUSSIA, PA-Lend Lease is putting its share of the King of Prussia Mall–approximately half of the 2.6-million-sf mall–on the market. Holliday Fenoglio Fowler LP’s executive managing director and managing member, John Pelusi, and senior managing directors Glenn Whitmore and Chris Turner, are representing Lend Lease in the sale. None were available for comment. Lend Lease did not return GlobeSt.com inquiries by deadline. Kravco Simon manages the mall. A spokeswoman for the mall did not return a call to GlobeSt.com.

One of the country’s shopping meccas, King of Prussia Mall is one of a handful of malls able to generate over $1 billion in sales annually. Major national anchor tenants include Nordstrom, Neiman Marcus, Lord & Taylor, Bloomingdale’s, Macy’s, JCPenney and Sears; altogether the Mall houses some 400 international, national, regional and local tenants.

There are also several tenants at King of Prussia Mall leasing space at below market rates whose leases are rolling over, Pelusi says in a prepared statement. Also, the redevelopment of the former Strawbridge Department Store, will also be a plus for a prospective buyer, he adds. “We anticipate that an asset of this quality will command unprecedented investor interest and pricing,” he explains in a release.

Headquartered in Australia, Lend Lease is an international property group structured into five sections: retail, communities, public/private partnerships, investment management, and project management and construction.

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