PREIT Adds Signature Tenants to Premier Malls

WILLOW GROVE, PA and CHERRY HILL, NJ—PREIT has signed key leases for new tenants at the following premier malls:

• Cherry Hill Mall, Cherry Hill, N.J.: lululemon athletica; Tumi, e.l.f. studio
• Willow Grove Park, Willow Grove, PA: Primark (opening 2016)
• Woodland Mall, Grand Rapids, MI: Garage

These new tenants complement other recent additions to these properties including:

• UNIQLO at Cherry Hill Mall and Willow Grove Park
• Michael Kors at Willow Grove Park
• Vera Bradley at Cherry Hill Mall

“We have been successful in our strategic plan to enhance the shopping experience by delivering sought after national and first-to-portfolio and first-to-market retailers,” says Joseph F. Coradino, CEO of PREIT. “As we continue our portfolio transformation, we expect to deliver more key brands that drive traffic and sales to our properties.”

Cherry Hill Mall, eight miles from Philadelphia, serves as the dominant shopping center in densely populated southern suburban New Jersey, with a tenant mix consisting of high-end retailers and restaurants.  With the additions of e.l.f studio, lululemon athletica and Tumi this year and UNIQLO and Vera Bradley late last year, Cherry Hill Mall continues its tradition of attracting new tenants to the PREIT portfolio. The high-end tenant strategy appears to have paid off handsomely, PREIT tells GlobeSt.com.