PHILADELPHIA, PA—Pennsylvania Real Estate Investment Trust and The Macerich Company will hold a grand opening Tuesday, October 28, of The Gallery's new anchor tenant, Century 21 Department Store, in approximately 95,000 square feet on the corner of 8^th and Market Streets in Philadelphia. The New York-based fashion retailer, best known for delivering designer merchandise at up to 65% off retail, announced in April that it selected The Gallery for the brand's first location outside the New York market.

PREIT and Macerich, which jointly own The Gallery, are counting on an upcoming redevelopment to breathe new life into the iconic Philadelphia site. They say the opening of the Century 21 highlights the trendy, popular retailers that will be offered as the redevelopment of the shopping mall unfolds.

"Century 21's opening at The Gallery underscores our success in transforming our portfolio and is another example of our commitment to adding high-quality, traffic-driving tenants to our properties and drawing first-to-market tenants to the region," says Joseph F. Coradino, CEO of PREIT. "We are thrilled that this popular retailer selected The Gallery in Philadelphia to launch its expansion outside the New York market, further demonstrating our dominance in greater Philadelphia market. This is an exciting move that emphasizes the expanding retail landscape of this city and sets the tone of The Gallery redevelopment."

"The heart of our business is in delivering value to our customers to live better, and making the unattainable, attainable through our longstanding relationships with luxury brands. We are excited to enter Philadelphia's accelerating retail market and The Gallery was the ideal location to facilitate this expansion. We look forward to being the first of many to join the revitalization of the Market East corridor and become part of the fabric of the Philadelphia community," says Raymond Gindi, CEO, Century 21 Department Store.

The store will open to the public on Tuesday, October 28, 2014 at 12:30pm.

Instant Insights /

PREIT and Macerich Opening Century 21 at Gallery in Philadelphia

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