Kohl's Leases 86,364 SF at Barn Plaza

PHILADELPHIA-An 86,364-sf Kohl’s Department Store is scheduled to open at the 213,000-sf Barn Plaza in Doylestown, PA next spring. The department store will encompass a vacant, 56,364-sf space once occupied by an Acme Supermarket and an additional 30,000 sf, increasing Barn Plaza to 243,000 sf.

Built in 1987, Barn Plaza is owned by Plymouth Meeting, PA-based Kramont Realty Trust. It has 19 tenants, including a 35,700-sf Marshall’s, an Eckerd Drug store, Rockaway Bedding and The Coffee Beanery. A 14-screen Regal Cinema, an Applebee’s and Friendly’s are located on an outparcel along the Route 611 location. The Kohl’s lease will take Barn Plaza to 100% occupancy.

Terms and rental rate were not disclosed.

Meanwhile, an 85,899-sf Wal-Mart opens at another Kramont property, the 387,000-sf Bethlehem Square in Bethlehem, PA. Wal-Mart acquired the space once leased by Bradlees and vacant since fall 2000. This brings Bethlehem Square to 100% occupancy.

Again, terms and rental rate were not disclosed. In a statement, however, Louis P. Meshon, Sr., president and chief executive officer of Kramont, says Bethlehem Square currently has annual sales of $346 per sf, “well above the national average of $260 per sf.