Monday, January 28, 2019

PREIT Leases Former Macy's Space at Moorestown Mall in Philadelphia's NJ Suburbs

by Steve Lubetkin

PREIT has completed key leases at the former Macy’s box at Moorestown Mall, executing a lease with Michaels, which will occupy 25,000 square feet of space, offering arts, crafts, framing, floral, wall décor and seasonal merchandise for do-it-yourselfers. Michaels joins HomeSense, Five Below and Sierra Trading Post in the former Macy’s location, creating a diverse and compelling retail mix reflective of the new mall platform.  Michaels is expected to open in late 2019, marking another milestone in redefining the property experience.

“The changes we have made at Moorestown Mall are reflective of our efforts to create diverse retail and social experiences at our properties, transforming the mall model,” says Joseph Coradino, CEO of PREIT. “The continued remerchandising and strengthening of our properties lay a foundation that will satisfy the demands of the community and set the stage for continued growth.”

Complementing the recently opened anchor stores are new dining experiences:  Hash House A Go Go and Joe Italiano’s Maplewood. The new-to-market tenants will complement the existing dining options and further support PREIT’s efforts to reimagine the mall experience and provide a variety of experiential options for shoppers.
Hash House A Go Go occupies a 7,800-square-foot space offering locally sourced farm-fresh food. The restaurant will serve breakfast, brunch, lunch and dinner daily and its large bar will host a vibrant happy hour scene featuring local beers and famous signature cocktails. This is the first Hash House A Go Go location to open in the region and in PREIT’s portfolio.

A South Jersey favorite, Joe Italiano’s Maplewood, a family-owned Italian restaurant for nearly 75 years with locations in Hammonton and Mays Landing, NJ, also recently opened. The Moorestown location occupies 8,600 square feet of space and will put a fresh face on its menu with a creative array of brick-oven options including, pasta with meatballs and Maplewood’s unique red sauce, also known as “gravy.”

Moorestown Mall is home to a unique mix of tenants including award-winning Rizzieri salon and spa, Orangetheory Fitness, Yard House, Regal Cinemas, Firebirds Wood Fired Grill and Harvest Seasonal generating over $25 million in dining and entertainment sales and popular retail brands including H&M, Express, Foot Locker, Hollister, Victoria’s Secret and many others.

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