Four retailers to expand to 10 more locations in PREIT's key markets

PREIT has positioned itself to become a magnet for retailers looking to expand their store counts in the densely populated and dynamic East Coast market.

Four tenants who are ramping up expansion plans within the Philadelphia-based company portfolio are:

Tilted 10, a family entertainment experience at Willow Grove Park, is set to open this fall. Bowling alleys, mini golf and laser tag are among some of the attractions that are filling the 104,000-sq.-ft. space that once housed J.C. Penney.

Rose & Remington, a contemporary lifestyle brand founded by a mother-daughter duo with a goal to create a fun and vibrant atmosphere where mother and daughter can shop together, will open three new locations in PREIT's portfolio after opening its first location with PREIT at Woodland Mall last year. These stores will mark the popular retailer's foray into greater Philadelphia. The retailer is expected to open at Willow Grove Park, Capital City, and Cherry Hill Malls later this year.

Lovisa, a fashion-forward jewelry brand that caters to women, opened its first store with PREIT last year at Woodland Mall, last week at Springfield Town Center and is expected to open another location at Capital City Mall this fall.

BoxLunch, a division of Hot Topic, is a civic-minded specialty retailer offering a curated collection of licensed and non-licensed merchandise. The retailer will open new stores throughout PREITs portfolio at Capital City Mall, Patrick Henry Mall and Springfield Town Center this summer and Willow Grove Park this fall.

"As we continue to strengthen our portfolio with additional dining, entertainment, apartments, hotels and fitness options, our tenants should benefit from improved sales and traffic and our investors should benefit from improving valuations in a one-of-a-kind setting with everything our customers need," said PREIT CEO Joseph F. Coradino.

Among the new tenants it has attracted for their first locations in the Philadelphia suburbs are: Legoland Discovery Center at Plymouth Meeting Mall; HomeSense at Moorestown Mall; Zara's first suburban Philadelphia location; and A|X's only market location at Cherry Hill Mall, one of two Bloomingdale's stores in the market.

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