PHILADELPHIA, Nov. 6, 2017 /PRNewswire/ -- PREIT (NYSE:
PEI) today announced multiple new experiential concepts, including
dining and entertainment, at Plymouth Meeting Mall in the
Philadelphia suburbs, further
fortifying the property's unique position in the marketplace as a
regional destination. Over the past year, Plymouth Meeting Mall has
welcomed a variety of new concepts bringing innovation and
diversification to its tenant base to align with the new age of
retail, highlighted by the opening of 5 Wits this past
weekend.
PREIT has executed leases with Build-a-Bear for one of
the brand's first kiosk deployments in the country, where customers
can create the same customizable furry friends they're able to in a
traditional store; The Dapper Doughnut, a kiosk experience
serving hot mini doughnuts; and Busy Bees Pottery & Arts
Studio, a create-your-own project art studio with BYOB canvas
painting. These experiential concepts will join Versace
Gelato, one of only 12 locations nationwide, which is expected
to open soon.
These new additions underscore the continued evolution of
Plymouth Meeting Mall, which was an early adopter of experiential
offerings for local consumers. It was one of the first malls to
open a Whole Foods Market on the property in 2010, and has
since welcomed multiple dining and entertainment concepts to meet
evolving consumer demands. LEGOLAND® Discovery Center
Philadelphia opened at the property in April 2017, complementing existing entertainment
attractions including Dave & Buster's and a recently
renovated AMC Theatre. Cyclebar, the world's first
and only Premium Indoor Cycling™ franchise, opened in May 2017 and 5 Wits, a cutting-edge
live-action entertainment escape room, which grand opened this past
weekend.
"The addition of these uses to the Plymouth Meeting Mall
offering exemplifies our unique approach to introducing
experiential concepts at a well-located asset in a
densely-populated market," said PREIT CEO Joseph F. Coradino. "With its well-curated,
diverse range of entertainment and dining concepts, it is a truly
unique property that will continue to evolve through our Macy's
redevelopment strategy."
Plymouth Meeting Mall is located in a well-situated,
high-trafficked region at the intersection of four of Philadelphia's major roadways. Over 90 million
vehicles pass the mall per year – a significant opportunity to
attract new visitors from the surrounding region.
About PREIT
PREIT (NYSE:PEI) is a publicly
traded real estate investment trust that owns and manages quality
properties in compelling markets. PREIT's robust portfolio of
carefully curated retail and lifestyle offerings mixed with
destination dining and entertainment experiences are located
primarily in the densely populated eastern U.S. with concentrations
in the mid-Atlantic's top MSAs. Since 2012, the company has driven
a transformation guided by an emphasis on portfolio quality and
balance sheet strength driven by disciplined capital expenditures.
Additional information is available at www.preit.com or on Twitter
or LinkedIn.
CONTACT:
Heather
Crowell
SVP, Corporate Communications and Investor Relations
(215) 454-1241
heather.crowell@preit.com
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SOURCE PREIT