PREIT To Sell Non-Core Parcel

(RTTNews) - Pennsylvania Real Estate Investment Trust (PEI) said Friday that it has entered into an agreement to sell the remaining parcel owned by the company at Plaza at Magnolia, a center originally developed by PREIT adjacent to its Magnolia Mall in Florence, South Carolina.

The deal is expected to close during the fourth quarter of 2014.

The parcel being sold currently contains a Firehouse Subs eatery and an AT&T store. The company previously sold the other parcels comprising the center and sold an adjacent Power Center, The Commons at Magnolia, in 2013.