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August 27, 2008

REal Talk with Adam Perrotta-Tuesday

By Adam Perrotta, News Writer

--As the economy's struggles continue to bog down the retail sector, Sydney-based Lend Lease Corp. is planning to give up its 50 percent ownership interest in Metro Philadelphia's King of Prussia Mall. Given that the complex is one of the nation's largest and most high-profile retail properties, Lend Lease's plans divest its stake may be a bellweather of just how much retail has been affected. With no buyer lined up as of yet, it remains to be seen if the offer will generate a frenzy of interested parties, or if retail's downturn will scare off potential suitors for even such a trophy property.

With an interest in such a prime asset up for grabs, would buyers be wise to get in on such an opportunity? Or are today's turbulent economic waters too risky?

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