PREIT: Only one mall impacted by J.C. Penney store closings

• J.C. Penney is closing the 51K foot store at PREIT's (NYSE:PEI) Cumberland Mall in Vineland, NJ, and CEO Joseph Coradino sees the glass half-full as it offers the company the opportunity to add value by repurposing the space.
• He also notes two of J.C. Penney's store closings were in malls recently sold by PREIT.
• Source: Press Release