Crown American

{{Infobox company

| name = Crown American

| logo =

| caption =

| type = Private

| fate =

| Predecessor =

| successor =

| foundation = 1950

| defunct =

| location = Johnstown, Pennsylvania, U.S.

| industry = Commercial real estate

| products = Hotels, restaurants, office, retail

| key_people = Michael A. Barletta, President and CEO

| num_employees =

| parent =

| subsid =

| homepage = [http://www.crownamericanassociates.com crownamericanassociates.com]

}}

Crown American is a privately held American company that manages and develops commercial real estate. The corporate headquarters is in downtown Johnstown, Pennsylvania, in a building designed by architect Michael Graves.{{Cite web|title=The Crown American Headquarters Building|url=http://crownam.com/cwnbldg.htm|url-status=dead|archive-url=https://web.archive.org/web/19980207195506/http://crownam.com/cwnbldg.htm|archive-date=1998-02-07|access-date=2021-08-01|website=Crown American Realty Trust}}

History

The company was founded in 1950 as Crown Construction. Frank J. Pasquerilla, who joined less than a year later, became president in 1956 and sole owner in 1961. The company's name was changed to Crown American in 1972 and in 1979, it acquired the Hess's department store chain. In 1993, the company split into two entities. The shopping mall portion of the company became a publicly held real estate investment trust, Crown American Realty Trust, and Crown American Hotels controlled the company's hospitality businesses. At its peak, Crown American operated 30 shopping malls, the Hess's department store chain (with 73 locations), and 20 hotels and motels.

In 2003, the shopping mall development and management unit, Crown American Realty Trust, was sold to * PREIT. The hospitality unit, Crown American Hotels, was retained. In 2005, 22 of the company's 26 hotels were acquired by W2001 Eastern Hotel Realty, an affiliate of the Archon Group, which assumed responsibility for their management. Frank Pasquerilla died from a stroke in 1999. His son, Mark E. Pasquerilla, serves as chairman of Crown American Hotels. Mark Pasquerilla joined the company in 1981 and was named president in 1990. He is a graduate of the University of Notre Dame, completed a master of science degree in international relations at the London School of Economics, and studied international affairs at the University of Cologne. Michael Barletta is president and chief executive officer.

List of former malls

Crown American has owned a total of 30 shopping malls during its history. When they merged with PREIT in 2003, they owned 26 malls, and were partners in one other.{{cite news|last1=Blumenau|first1=Kurt|title=Crown American is bought by PREIT|url=https://www.mcall.com/2003/11/12/crown-american-is-bought-by-preit-the-12-billion-deal-brings-many-area-malls-under-one-ownership/|access-date=24 May 2016|work=The Morning Call|date=November 12, 2003}}{{cite news |last1=Michael Roknick |first1=Michael |title=Pa. firm buying mall's owner |url=http://www2.sharonherald.com/localnews/recentnews/0305/ln051503e.html |accessdate=3 September 2018 |work=Sharon Herald |date=May 15, 2003}} Crown American also owned a ground lease for an anchor pad at the Westgate Mall in Bethlehem, Pennsylvania, though they did not own the mall itself.{{Cite web|last=SEC|title=Crown American Realty Trust 1996 Annual Report 10-K|url=https://sec.report/Document/0000905134-97-000004/|access-date=2020-07-14|website=SEC.report|language=en}}

Mall name	Year opened	Year closed	Location	Owners
class="wikitable sortable"
Carlisle Plaza Mall{{NoteTag\|note=Now known as The Point at Carlisle Plaza}}	1964		Carlisle, PA	Crown American 1969–2002; Michael Joseph Development Corp. 2002–2005; Cedar Realty Trust 2005–2012; Giant PA 2012–present{{cite news \|title=Key Point events since 2002 \|url=https://cumberlink.com/news/local/key-point-events-since-2002/article_39c3ec44-4ec2-51fa-a2dd-bdab2bf1d49b.html \|accessdate=24 September 2020 \|work=The Sentinel \|date=March 1, 2015 \|language=en}}
Logan Valley Mall	November 1965		Altoona, PA	Crown American 1965–2003; PREIT 2003–2017; Namdar Realty Group 2017–present{{Cite web\|title=New York companies buy Logan Valley Mall\|url=https://www.altoonamirror.com/news/local-news/2017/09/new-york-companies-buy-logan-valley-mall/\|access-date=2021-08-01\|website=altoonamirror.com\|language=en-US}}
North Hanover Mall	1967		Hanover, PA	Crown American 1967–2003; PREIT 2003–2014; Namdar Realty Group 2014–present{{Cite web\|title=PREIT Announces New Redevelopment Plans for North Hanover and Jacksonville Malls\|url=http://www.snl.com/irweblinkx/Mobile/file.aspx?IID=102991&FID=3704314\|access-date=2021-08-01\|website=www.snl.com}}{{Cite web\|date=2016-06-10\|title=Other malls have found Namdar a good owner, but no panacea\|url=https://www.concordmonitor.com/Steeplegate-purchase-follow-2688817\|access-date=2021-08-01\|website=Concord Monitor\|quote=In 2014, Namdar bought Nittany and a similar Pennsylvania mall, North Hanover Mall, for $32.3 million. They were sold by a Pennsylvania real estate trust called PREIT that has unloaded more than a dozen malls in an attempt to pay down its debt load.}}
Shenango Valley Mall	1967		Hermitage, PA	Crown American 1967–2003; PREIT 2003–2004; Lightstone 2004–2009; JSMN Shenango Valley Mall 2009–2018; Iowa Square Realty LLC 2018–2019; GFM 23 LLC 2019–2022; Butterfli Holdings LLC (FLICORE LLC) 2022–present{{Cite web\|last=Roknick\|first=Michael\|date=2018-02-16\|title=Shenango Valley Mall enters receivership after loan default but remains open\|url=https://www.ncnewsonline.com/news/shenango-valley-mall-enters-receivership-after-loan-default-but-remains-open/article_6278f33e-546a-5d55-8adf-df1a40710765.html\|access-date=2021-08-01\|website=New Castle News\|language=en}}{{Cite web\|last=Poole\|first=Eric\|date=2019-02-08\|title=Shenango Valley Mall changes hands\|url=https://www.ncnewsonline.com/news/shenango-valley-mall-changes-hands/article_ba812f90-2b2f-11e9-8afc-bfcfd884a4f2.html\|access-date=2021-08-01\|website=New Castle News\|language=en}}{{Cite web\|last=Dye, David and Carey, Renee\|date=2019-08-01\|title=Shenango Valley Mall sold to Akron-based company\|url=https://www.ncnewsonline.com/news/shenango-valley-mall-sold-to-akron-based-company/article_d0bfe189-0191-53c0-aae6-18494c9be180.html\|access-date=2021-08-01\|website=New Castle News\|language=en}}{{cite news \|last1=Dye \|first1=David L. \|title=Shenango Valley Mall under new ownership \|url=https://www.sharonherald.com/news/shenango-valley-mall-under-new-ownership/article_145ae212-18e0-11ed-9365-f71bf3e82b48.html \|access-date=5 February 2023 \|work=The Herald \|date=August 10, 2022 \|language=en}}
Nittany Mall	January 1968		State College, PA	Crown American 1968–2003; PREIT 2003–2014; Namdar Realty Group 2014–present
Viewmont Mall	1968		Scranton, PA	Crown American 1968–2003; PREIT 2003–present
Washington Crown Center	1969		Washington, PA	Crown American 1969–2003; PREIT 2003–2016; Kohan Retail Investment Group 2016–present{{Cite web\|last=Urbanski\|first=Al\|date=2016-08-16\|title=PREIT sells Washington Crown Center to Kohan\|url=https://chainstoreage.com/news/preit-sells-washington-crown-center-kohan\|access-date=2021-08-02\|website=Chain Store Age\|language=en}}
Middletown Mall{{NoteTag\|note=Now known as Middletown Commons}}	1969		Fairmont, WV	Crown American 1969–1970; Crown American (50%) / First Union Real Estate Equity (50%) 1970–1995; Crown American 1995–1998; Dietrich Steven Fansler 1998–2018; General Acquisitions LLC 2018–present{{Cite web\|title=FIRST UNION REAL ESTATE EQUITY v. Crown American Corp., 639 F. Supp. 838 (M.D. Pa. 1986)\|url=https://law.justia.com/cases/federal/district-courts/FSupp/639/838/1745292/\|access-date=2020-07-15\|website=Justia Law\|language=en}}{{Cite web\|last=SEC\|title=Winthrop Realty Liquidating Trust Prospectus 424B2\|url=https://sec.report/Document/0000950152-97-000368/\|access-date=2020-07-15\|website=SEC.report\|language=en}}{{Cite web\|last=Dahlia\|first=John\|date=2018-04-27\|title=Middletown Mall sale for nearly $13.7 million moves forward\|url=https://www.wvnews.com/theet/news/middletown-mall-sale-for-nearly-13-7-million-moves-forward/article_15ea55d8-0fe4-5e26-8dbd-bd7b3e7f9c9f.html\|access-date=2020-07-15\|website=WV News\|language=en}}{{Cite web\|last=\|first=\|date=\|title=Quarterly Report\|url=https://www.sec.gov/Archives/edgar/data/905134/0000905134-98-000020.txt\|access-date=\|website=sec.gov}}{{Cite web\|last=McLaughlin\|first=Justin\|date=2006-05-18\|title=Property around mall to be auctioned\|url=https://www.timeswv.com/news/local_news/property-around-mall-to-be-auctioned/article_17a0578f-def0-5c22-9037-5b4f87d10e05.html\|access-date=2020-07-15\|website=Times West Virginian\|language=en}}
Wyoming Valley Mall	1971		Wilkes-Barre, PA	Crown American 1971–1972; Crown American (50%) / First Union Real Estate Equity (50%) 1972–1995; Crown American 1995–2003; PREIT 2003–2019; GS Mortgage Securities Trust 2019–2021; Kohan Retail Investment Group 2021–2023; 4th Dimension Properties 2023–present{{cite news \|last1=Lynott \|first1=Jerry \|title=Struggling Wyoming Valley Mall has new owner \|url=https://www.timesleader.com/news/1509078/struggling-wyoming-valley-mall-has-new-owner \|access-date=23 November 2021 \|work=Times Leader \|date=28 August 2021}}{{cite news \|last1=Tomkavage \|first1=Robert \|title=Florida firm acquires Wyoming Valley Mall \|url=https://www.thetimes-tribune.com/news/business/florida-firm-acquires-wyoming-valley-mall/article_bee23f39-8bb8-5d47-bed6-8e17510a665c.html \|access-date=18 October 2023 \|work=Scranton Times-Tribune \|date=17 October 2023 \|language=en}}
Uniontown Mall	1972		Uniontown, PA	Crown American 1972–2003; PREIT 2003–2015; Namdar Realty Group 2015–present{{Cite web\|date=2015-08-07\|title=PREIT Sells 700,000-Square-Foot Uniontown Mall for $23 Million\|url=https://shoppingcenterbusiness.com/preit-sells-700-000-square-foot-uniontown-mall-for-23-million/\|access-date=2021-08-02\|website=Shopping Center Business\|language=en-US}}
Palmer Park Mall	1973		Easton, PA	Crown American (50%) / PREIT (50%) 1973–2003; PREIT 2003–2016; CityView Commercial LLC 2016–present{{Cite web\|last=Pedersen\|first=Brian\|date=2016-02-24\|title=New York firm buys Palmer Park Mall for $18M\|url=https://www.lvb.com/new-york-firm-buys-palmer-park-mall-for-18m/\|access-date=2019-08-05\|website=LVB.com\|language=en-US}}
Capital City Mall	1974		Camp Hill, PA	Crown American 1974–2003; PREIT 2003–present
Valley Mall	August 1974		Hagerstown, MD	Shopco Malls 1974–1989; ERE Yarmouth 1989–1997; Crown American 1997–2003; PREIT 2003–present{{Cite web\|last=\|first=\|date=1997-11-20\|title=Mall in Hagerstown bought by Pa. company\|url=https://www.baltimoresun.com/news/bs-xpm-1997-11-20-1997324006-story.html\|access-date=2020-07-14\|website=baltimoresun.com\|language=en-US}}
South Mall	1975		Allentown, PA	Hess's Department Stores, Inc. 1975–1979; Crown American 1979–2003; PREIT 2003–2014; Nicholas Park Mall, LLC. 2014–present{{Cite web\|last=Salerno\|first=Allison\|date=1994-09-11\|title=MALL STORES HOPE BON-TON BRINGS GOOD TIMES AS IT REPLACES HESS'S\|url=https://www.mcall.com/news/mc-xpm-1994-09-11-2987643-story.html\|access-date=2019-08-04\|website=The Morning Call\|language=en-US}}{{Cite web\|last=Harris\|first=Jon\|date=2017-11-17\|title=South Mall, under new ownership, on an 'upward path'\|url=https://www.mcall.com/business/mc-biz-south-mall-making-upgrades-to-survive-20171117-story.html\|access-date=2019-08-05\|website=The Morning Call}}
Francis Scott Key Mall	1978		Frederick, MD	Crown American 1978–2003; PREIT 2003–present
Lycoming Mall	1978	February 24, 2023{{cite news \|last1=Farenish \|first1=Melissa \|title=End of an era: Local folks recall memories of Lycoming Mall \|url=https://www.northcentralpa.com/business/local_business_news/end-of-an-era-local-folks-recall-memories-of-lycoming-mall/article_debab258-b3ea-11ed-8d0f-df14a7dda6b9.html \|access-date=26 February 2023 \|work=NorthcentralPA \|date=February 25, 2023 \|language=en}}	Pennsdale, PA	Crown American 1978–2003; PREIT 2003–2016, Kohan Retail Investment Group 2016–2023, FamVest Partners LLC 2023–present{{Cite web\|date=2016-04-16\|title=Lycoming Mall sells for more than $26M\|url=https://www.sungazette.com/news/top-news/2016/04/lycoming-mall-sells-for-more-than-26m/\|access-date=2021-08-02\|website=Williamsport Sun-Gazette\|language=en-US}}{{cite news \|last1=Crossley \|first1=Pat \|title=Real estate closing marks official sale of former Lycoming Mall \|url=https://www.sungazette.com/news/top-news/2023/06/real-estate-closing-marks-official-sale-of-former-lycoming-mall/ \|access-date=12 September 2023 \|work=Williamsport Sun-Gazette \|date=June 23, 2023}}
Valley View Mall	1980		La Crosse, WI	Equitable Life Insurance Society of the United States Unknown–2002; Crown American 2002–2003; PREIT 2003–present{{Cite web\|last=\|first=\|date=2002-09-27\|title=Crown completes Wis. mall purchase\|url=https://www.bizjournals.com/pittsburgh/stories/2002/09/23/daily49.html\|access-date=2020-07-14\|website=www.bizjournals.com}}
Schuylkill Mall	October 9, 1980	January 15, 2018	Frackville, PA	Crown American 1980–2003; PREIT 2003–2007; Empire Reality Investments 2007–2017; NP New Castle LLC 2017–2018
Crossroads Mall	1981		Beckley, WV	Beckley-Jacksonville Ltd. Partnership Unknown–1998; Crown American 1998–2003; PREIT 2003–2017; Namdar Realty Group 2017–present{{Cite news\|last=Jones\|first=Dow\|date=1998-04-30\|title=Company News; Crown American to Buy Two Malls for $61 Million\|language=en-US\|work=The New York Times\|url=https://www.nytimes.com/1998/04/30/business/company-news-crown-american-to-buy-two-malls-for-61-million.html\|access-date=2020-07-14\|issn=0362-4331}}{{Cite web\|last=Adelman\|first=Jacob\|date=2017-01-17\|title=PREIT sells Beaver Valley Mall in Western Pennsylvania for $24.2M\|url=https://www.inquirer.com/philly/business/real_estate/commercial/PREIT-sells-Beaver-Valley-mall-in-Western-Pennsylvania.html\|access-date=2021-08-02\|website=The Philadelphia Inquirer\|language=en}}
Jacksonville Mall	1981		Jacksonville, NC	Beckley-Jacksonville Ltd. Partnership Unknown–1998; Crown American 1998–2003; PREIT 2003–present
West Manchester Mall{{NoteTag\|note=Now known as West Manchester Town Center}}	1981		York, PA	Crown American 1981–2003; PREIT 2003–2004; Lightstone 2004–2012; M&R Investors 2012–present{{Cite web\|date=2012-09-21\|title=Lightstone Sells York, Pa., Mall\|url=https://crenews.com/2012/09/21/lightstone-sells-york-pa-mall/\|access-date=2021-08-02\|website=Commercial Real Estate Direct\|language=en-US}}
Chambersburg Mall	1982	June 2023	Scotland, PA	Crown American 1982–2003; PREIT 2003–2013; Namdar Realty Group 2013–present{{Cite web\|last=Schooley\|first=Tim\|date=2015-08-05\|title=New York firm buys region's 15th-biggest mall\|url=https://www.bizjournals.com/pittsburgh/news/2015/08/05/new-york-firm-buys-regions-15th-biggest-mall.html\|access-date=2021-08-02\|website=www.bizjournals.com}}
Wiregrass Commons Mall	August 1986		Dothan, AL	Metropolitan Life Insurance Company Unknown–2002; Crown American 2002–2003; PREIT 2003–2016; Farallon Capital Management 2016–2018; Namdar Realty Group 2018–present
Patrick Henry Mall	1987		Newport News, VA	Crown American 1987–2003; PREIT 2003–present
New River Valley Mall{{NoteTag\|note=Now known as Uptown Christiansburg}}	1988		Christiansburg, VA	Crown American 1988–2003; PREIT 2003–2016; Farallon Capital Management 2016–2019; RockStep Capital 2019–present
Oak Ridge Mall{{NoteTag\|note=Now known as Main Street Oak Ridge}}	1989{{NoteTag\|note=Originally opened in the 1950's as an open-air shopping center before later being converted to an enclosed mall}}	2016	Oak Ridge, TN	Crown American 1989–2003; Crown Investments Trust 2003; Oak Ridge City Center LLC 2003–2016; RealtyLink (TN Oak Ridge Rutgers LLC) 2016–present{{Cite web\|title=Crown American Sells Tenn. Mall\|url=https://www.crenews.com/general_news/general/crown-american-sells-tenn.-mall.html\|access-date=2020-07-15\|website=www.crenews.com}}{{Cite web\|date=2003-06-18\|title=Oak Ridge City Center, LLC, Announces Purchase of Oak Ridge Mall\|url=https://www.businesswire.com/news/home/20030618005133/en/Oak-Ridge-City-Center-LLC-Announces-Purchase\|access-date=2020-07-15\|website=www.businesswire.com\|language=en}}
Phillipsburg Mall	1989	2020 \|Phillipsburg, NJ	Crown American 1989–2003; PREIT 2003–2013; Namdar Realty Group 2013–present{{Cite web\|last=Harris\|first=Jon\|date=2019-02-26\|title=What happened to the Phillipsburg Mall? Behind the vacancies and decay: A tough retail climate and low-investment owners\|url=https://www.mcall.com/business/mc-biz-crumbling-phillipsburg-mall-namdar-realty-group-strategy-20190226-htmlstory.html\|access-date=2019-08-05\|website=The Morning Call}}
Ashland Town Center \|1989-10-04 \| \|Ashland, KY \|Crown American 33% / Glimcher Realty 33% / Edward J. DeBartolo Corporation 33% 1989–unknown; Glimcher Realty unknown–2015; Washington Prime Group 2015–present{{Cite web\|last=Jeutt\|first=James\|date=2014-10-27\|title=Town Center seamed with changes of 1980s\|url=https://www.dailyindependent.com/news/town-center-seamed-with-changes-of-1980s/article_780f2cf4-5e4f-11e4-807f-3358ddff9a6a.html\|access-date=2021-08-01\|website=The Independent Online\|language=en}}{{Cite web\|last=Thomas\|first=Lauren\|date=2021-03-04\|title=Mall owner Washington Prime reportedly preparing to file for bankruptcy protection\|url=https://www.cnbc.com/2021/03/04/mall-owner-washington-prime-reportedly-prepping-to-file-for-bankruptcy.html\|access-date=2021-08-01\|website=CNBC\|language=en}}
Martinsburg Mall{{NoteTag\|note=Now known as Foxcroft Towne Center at Martinsburg}}	1991		Martinsburg, WV	Crown American 1991–2003; PREIT 2003–2004; Lightstone 2004–2009; Jones Lang LaSalle 2009–2012; Mountain State University 2010–2013; Paramount Developers 2013–present{{Cite news\|date=2008-12-10\|title=Lightstone's Trouble at the Shopping Mall\|language=en-US\|work=Wall Street Journal\|url=https://www.wsj.com/articles/SB122887646071793771\|access-date=2021-08-01\|issn=0099-9660}}{{Cite news\|date=2010-04-14\|title=Back to School for Failing Mall\|language=en-US\|work=Wall Street Journal\|url=https://www.wsj.com/articles/SB10001424052702304604204575182391158891002\|access-date=2021-08-01\|issn=0099-9660}}
Bradley Square Mall	1991		Cleveland, TN	Crown American 1991–2003; PREIT 2003–2004; Lightstone 2004–2009; The Shane Morrison Companies 2009-present
Mount Berry Square	1991		Rome, GA	Crown American 1991–2003; PREIT 2003–2004; Lightstone 2004–2009; Jones Lang LaSalle 2009–2012; Hull Property Group 2012-present{{Cite web\|title=Shenango Valley Mall Gets New Owner {{!}} Business Journal Daily\|url=http://archive.businessjournaldaily.com/shenango-valley-mall-gets-new-owner-2004-9-28\|access-date=2021-07-24\|website=archive.businessjournaldaily.com}}{{Cite web\|last=Steele\|first=Bryant\|title=Days of change at Mount Berry Square mall; Mall weathers economy with new ownership\|url=https://www.northwestgeorgianews.com/rome/business/days-of-change-at-mount-berry-square-mall-mall-weathers-economy-with-new-ownership/article_6f1c25e6-f623-54da-aff5-36c65ad8b662.html\|access-date=2021-08-01\|website=Northwest Georgia News\|language=en}}{{Cite web\|title=Hull Storey Gibson acquires Mount Berry Square Mall\|url=https://chainstoreage.com/real-estate/hull-storey-gibson-acquires-mount-berry-square-mall\|access-date=2021-07-24\|website=Chain Store Age\|language=en}}

Notes

References

New York Times, "Pennsylvania REIT to Buy Crown American Realty Trust," May 15, 2003.
[http://www.snl.com/irweblinkx/file.aspx?IID=102991&FID=1192544 Press Release - 14 May 2003] of Pennsylvania Real Estate Investment Trust: Pennsylvania Real Estate Investment Trust and Crown American Realty Trust Announce Merger Agreement; Combined Company to Become a Leading Mid-Atlantic Shopping Mall REIT
"[http://www.psu.edu/ur/archives/intercom_1998/April2/news.html Family pledges $5 million to fund spiritual center]," Intercom Online, Volume 27, Issue 26, Pennsylvania State University, April 2, 1998.
Tomas Kellner, "[https://web.archive.org/web/20041116192645/http://www.forbes.com/forbes/2004/0906/106_print.html Open for Business]," Forbes Magazine, September 6, 2004.
"IRWeblink." IRWeblink. N.p., n.d. Web. 30 Nov. 2013

External links

[http://www.crownamericanhotels.com/ Crown American Hotels website]
[https://web.archive.org/web/20100529214006/http://www.archonhospitalityus.com/portfolio/listStates.asp Archon Hospitality]
[http://www.preit.com/aboutus/history/ Pennsylvania Real Estate Investment Trust]

Category:Privately held companies based in Pennsylvania

Category:Johnstown, Pennsylvania

Category:Hospitality companies of the United States

Category:Shopping center management firms

Category:Real estate companies established in 1950

Category:Michael Graves buildings

Category:1950 establishments in Pennsylvania