On Wednesday, Nov. 1, PREIT announced two new tenants at the Moorestown Mall.
PREIT announced Wednesday, Nov. 1 the addition of two new anchor tenants at the Moorestown Mall, as the Company continues to transform the anchor mix and further diversify tenancy across its portfolio. The new-to-market retailers will occupy the former Macy’s space as part of the company’s strategic anchor repositioning program and underscoring its proficiency in attracting coveted brands to its portfolio.
The first of the two new anchors will offer off-price home furnishings from top designer brands, providing shoppers with the popular treasure hunt experience. Occupying 25,000 square feet, it will be accessible from both the exterior and interior of the mall. Accompanying the home furnishings and accessories brand will be an off-price outdoor gear retailer in 18,000 square feet of space. Both are slated to open in 2018. As the off-price retail segment continues to gain market share, the addition of these concepts will meet the demands of local shoppers and continue to differentiate the property within the marketplace.
“The Macy’s redevelopment offers an opportunity to bring highly sought after, first-to-market retailers to a vibrant market — enabling us to further distinguish the property,” said PREIT CEO Joseph F. Coradino. “Our efforts at Moorestown Mall are exemplary of the extensive remerchandising we have executed throughout our portfolio to attract dynamic and differentiated concepts that appeal to our shoppers, driving traffic and sales and enhancing asset value.”
