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AMERICAN VALUATION GROUP, INC. RETAINED FOR EXTON SQUARE
Lansdale, PA (January 7, 2010) - American Valuation Group, Inc. was retained to provide appraisal
services and expert witness testimonyon Exton Square Mall, a super-regional shopping mall located
in Exton, Chester County, Pennsylvania. The 1,088,000 square foot two-level, enclosed mall, which
opened in 1973 and was renovated in 2000, is situated at the crossroads of two major business
thoroughfares and is easily accessible by the entire county via Route 202, the Pennsylvania Turnpike
and the Route 30 Bypass. The design elements of the center capture the unique beauty and charm
of the Brandywine Valley, a major attraction contributing to Chester County’s growth. Daytime
population is exceptionally strong with over 53,000 workers within 5 miles. Exton Square Mall is
anchored by Macy’s, Boscov’s, Sears, and JCPenney.
Exton Square Mall has an impressive collection of stores and family-friendly features and
is a dominant mall in its trade area due to size, location and tenant mix. In addition to the anchor
stores, the mall has approximately 110 stores and restaurants including Abercrombie & Fitch, aerie,
Aéropostale, American Eagle Outfitters, Ann Taylor Loft, Banana Republic, Express, GAP, H & M,
Holister Co., PacSun, Victoria’s Secret, and Zumiez. There are 12 restaurants in the food court.
Pennsylvania Real Estate Investment Trust, one of the nation’s largest publicly traded real estate
investment trusts, owns the mall and handles leasing and management.
American Valuation Group, Inc. has been retained for appraisal services and expert testimony
for a tax appeal litigation proceeding. “The existing vacancy situation and the current appropriate
cap rate for this property will be major issues in this case,” said Mark T. Kenney, MAI, SRPA,
MRICS, MBA, President of American Valuation Group, Inc. He added, “Tax assessors are
increasingly concerned about appropriate values for shopping malls given the current recessionary
environment and credit crisis.” Mr. Kenney is the author of “Business Enterprise Value: The Debate
Continues,” and other shopping mall articles that appeared in The Appraisal Journal, a leading
industry journal published by the Appraisal Institute.
American Valuation Group, Inc. is a leader in the appraisal of shopping malls and shopping
centers, and specializes in property tax appraisal and litigation support for assessors nationwide. For
information about our litigation support services, contact Mark Kenney at (215) 855-1800 or visit our web site at www.ameri-val.com.
207 Abbey Lane
Lansdale, PA 19446Ph: 215.855.1800
Fax: 215.855.1782 Email: mkenney@ameri-val.com