PHILADELPHIA, Sept. 17, 2019 /PRNewswire/ -- The joint venture
partnership between PREIT (NYSE: PEI) and Macerich today announces
the official launch of Fashion District Philadelphia (The
District), a well-curated one-of-a-kind destination that blends
shopping, dining, entertainment and culture to create a unique
downtown destination that is inclusive, accessible and convenient
for everyone. The opening of The District is one of many milestones
for PREIT in 2019, a pivotal year for the company.
Spanning three city blocks and approximately 900,000 square feet
of space, The District will feature a robust lineup of dynamic
tenants that serve the evolving consumer in a metropolitan setting.
From a variety of retailers to multiple dining concepts, dynamic
entertainment for kids and adults alike, ongoing community events
and programs, and several unique features – including art
installations and local businesses – the offerings at The District
are designed to maximize day-to-night appeal and deliver an
unforgettable experience for all.
"This is a very exciting day for us and one that we, as
Philadelphians, have been looking forward to for sixteen years
since we acquired the first piece of what is now Fashion District
and we are proud to take part in the Market East revolution," said
Joseph F. Coradino, CEO of PREIT.
"With the opening of The District as a new Philadelphia destination, Market East will be
revitalized and emerge as a robust retail and entertainment
district in Philadelphia. Beyond
this, The District will also truly redefine the national consumer
experience and the future of retail , simultaneously changing the
face of PREIT's portfolio."
The breakthrough mix of uses differentiates The District. "This
experience-forward project is a model for what the best retail
properties all over the country are becoming: more things for more
people, and all in an unbeatable, heart-of-everything location,"
said Macerich CEO Tom O'Hern. "This
has long been the Macerich philosophy, and we are proud to be part
of this exceptional project geared to residents, commuters and the
millions of people who visit Center
City each year."
The District will launch on September 19,
2019 with a press conference featuring Philadelphia Mayor Jim
Kenney, PREIT CEO Joseph
Coradino, Macerich CEO Tom
O'Hern, and Philadelphia Convention & Visitors Bureau
President & CEO, Julie Coker
Graham. That is just the beginning - it will be followed by
a year-long series of new additions later in 2019 and in 2020.
TENANTS AND COMMUNITY PROGRAMING
As the retail landscape continues to evolve, the project's tenancy
and programming has been curated around four brand pillars – Style,
Dining, Entertainment, and Arts & Culture – attractive to
residents, commuters and visitors of Philadelphia.
Style: Offering a unique combination
of flagship, off-price, fast-fashion, traditional full price,
branded outlet stores and first-to-market concepts, The District
offers mass appeal to a diverse customer base, combining a high
quality experience with accessible style. Retail options
include:
- Aeropostale*
- A|X Armani Exchange*
- American Eagle/Aerie
- Asics
- Bella Shoes*
- Burlington
- Century 21
- Clair de Lune*
- Columbia
- Creative Silver
- DSW*
- Eddie Bauer*
- Express Factory
- Forever 21*
- Francesca's*
- Guess Factory
- H&M
- Hollister
- Journeys
- Justice*
- Levi's
- Nike
- Pandora
- Perfect Foto
- Samsonite
- Skechers
- Spencer's
- Sunglass Hut
- Torrid*
- ULTA
- The Vision
- Wills Eye Wear
- Windsor*
- YOYOSO*
- Zales
- Zumiez
Specialty offerings include:
- American Shaman*
- As Seen on TV
- Boost Mobile
- CXI Currency Exchange
- Gamestop
- Safe Talk
- T-Mobile
- Talk 'N Fix
Dining: Emphasizing Philadelphia's reputation
for great food offerings, The District offers a collection of
unique dining concepts, ranging from fast casual, to sit down, to
quick bites and cross-over live entertainment. This includes
Market Eats, a collection of restaurants and eateries in
partnership with Aramark, offering a modern grab-n-go food market
with access to SEPTA's Jefferson Station; as well as City
Winery, the brand's seventh location in the country. The full
list of dining options include:
- City Winery
- Starbucks*
- Market Eats by Aramark
-
- Burger Fi
- Chickie's and Pete's
- Chick-fil-A
- Freshii
- La Madeleine
- Oath Pizza
- Pei Wei
- Haagen Dasz
- Jamba Juice
- Tiffany's Bakery
- Auntie Anne's
- Beef Jerky Outlet
- Big Gay Ice Cream*
- Dunkin' Donuts
- Philly Pretzel Factory
- Poke World
- Potato Corner
- Rolling Cow
- Utepia
Additionally, visitors can enjoy a pop-up Yards Brewing
Company activation for a limited time only commencing before
the end of the month. The local brewery will have a common area
space offering brews and limited food options. Visitors can check
it out on the Street level between 10th &
11th Street.
Entertainment: Delivering an
entertainment destination for engaging, social experiences, The
District features a dedicated third-floor entertainment zone.
Visitors can enjoy billiards, bowling, karaoke and more at Round
1*; dine and recline in reserved seats at AMC Theaters*
to watch the latest movie; experience rotating interactive art
exhibits from around the world at Wonderspaces*; or be
immersed in the marshmallow mini-theme park of Candytopia.
Whether it's an adventure for the whole family or a night out with
friends, The District offers fun for everyone and supports local
demand for accessible social experiences.
Arts & Culture: Beyond offering a retail and
entertainment destination, The District is designed to be an
integral part of the local community – supporting local talent and
fostering positive change.
- Art Installations: As part of this commitment to
fostering positive change and civic engagement, The District has
invested $1 million in art
installations by local, national and international artists, making
museum-caliber art more accessible to the city, while also
elevating the beauty of The District. Curated by Bridgette Mayer, the murals and installations
range from large-scale 2-D and 3-D sculptures to 50-foot-long
murals. There will be guided art crawls on opening weekend and
beyond for visitors to learn more about the artwork onsite at The
District.
- Streets Dept Walls:
Conrad Benner, curator and founder
of Philly street art blog StreetsDept.com, has partnered with The
District to curate a flexible mural exhibition featuring the work
of eleven Philly artists. The new murals, created over the last
several weeks, will be available for view on the Concourse level of
The District through the end of 2019.
- Nero One: Nero One is a Phiadelphia Street artist known
for hand cut stencil art. Fashion District commissioned its own
stencil through Nero One based on its "go for it" campaign and
mentality. It can be found within The District.
- Uniquely Philly: The District collaborated with The
Enterprise Center, a local organization founded by the Wharton
Small Business Development Center, that seeks to better position
high-potential, minority and female entrepreneurs in the economy.
The collaboration has brought Uniquely Philly – a curated
collection of local small businesses with authentic Philadelphia offerings – to The District. The
four inaugural tenants of Uniquely Philly are:
-
- American Hats LLC: A family-run business that that utilizes
high-quality materials to offer an assortment of hats to women and
men as both a brand/retailer and as a wholesaler.
- Dolly's Boutique: From daywear to formal attire, Dolly's
Boutique caters to working women. At Dolly's Boutique, women
reentering society from homelessness or incarceration can obtain
clothing free of charge to help them transition back into the
workplace.
- The Sable Collective: A destination for locally sourced,
female-owned brands in clothing, jewelry, housewares and body
care.
- South Fellini: The City's go-to place for quirky Philly-themed
gear that appeals to both Philadelphians and tourists.
- REC Philly*: A 10,000 square foot, first-of-its-kind
facility — co-working space for creatives based on 3 principles:
Direct-to-Consumer entrepreneurship, Resource Sharing, Safe Space
for Creatives. Locally founded and supporting Philly's creative
community, the new facility will house recording studios, visual
labs, a podcast studio, rehearsal space, production rooms,
meditation rooms, private conference rooms, and a creative
co-working and 200 person event space.
- Wonderspaces*: This interactive, immersive art
experience partners with artists from around the world to present
art shows that everyone can enjoy as a place to connect with
friends and family. After receiving over 250,000 visitors in its
previous shows in San Diego and
Scottsdale, Wonderspaces has chosen Philadelphia as its next destination.
- Industrious*: One of the leading co-working
facilities in the country, Industrious, already well-known in the
Philadelphia market, will offer a
state of the art 47,000 square foot co-working facility.
Additionally, as a trusted civic and community partner, The
District has selected nonprofits that align with its brand pillars
of Style, Dining, Entertainment and Arts & Culture as corporate
philanthropy partners. The inaugural partners include Career
Wardrobe, The Food Trust, Philadelphia Music Alliance for Youth
(PMAY) and Mural Arts Philadelphia.
*Denotes tenants that are opening after September 19, 2019
AMENITIES & FEATURES OF THE DISTRICT
To help ensure guests have a seamless shopping experience, The
District offers a series of amenities and features that allow
guests to enjoy their time at The District to the fullest.
- Built-in Selfie Backdrops: Designed for users to show
off their best selves, The District offers built-in selfie
backdrops to help capture every moment of the experience.
Specially-designed wallscapes can be found throughout The
District.
- Full-Service Concierge: Located on Street level on the
eastern side of 9th Street, The District's concierge is
available during hours of operation to help provide directions,
develop and execute events, and answer inquiries and general
questions. Concierge services at The District are curated to ensure
every consumer's experience is seamless and enjoyable. The District
also features a Text Concierge program for on-the-go
inquiries.
- Digital Directories: Digital directories throughout The
District will help visitors navigate their way around the 800,000
square foot destination. The digital directory will act as an
interactive map, providing on-demand directions as well as a
complete tenant list that can be filtered by category including
food, beverage, apparel, jewelry, etc.
- Savings Pass: Fashion District's Savings Pass provides
special offers and discounts from participating stores and
restaurants. You can reap the benefits of the Savings Pass directly
from your smartphone: the digital card can be downloaded to your
Apple Wallet or Android Pay. More information can be found at
https://fashiondistrictphiladelphia.com/visitors/visitors-savings-pass.
- Grab-n-Go Food: The District is accessible from SEPTA's
Jefferson Station platform, making it an easy grab-n-go food
destination. Commuters and visitors can grab a beverage, meal or
snack from various retailers including but not limited to, Market
Eats, Dunkin Donuts, Jamba Juice and Auntie Anne's.
- Ultimate Accessibility: With a prime location in
Center City, The District is just
steps away from Philadelphia's
historic district and connected to Reading Terminal, the
Pennsylvania Convention Center and
SEPTA's Jefferson Station – a convenient, transit-oriented location
offering accessibility for millions of Philadelphia residents, commuters and
visitors. The District provides direct, weather-protected access to
PATCO and the Market-Frankford line as well.
CELEBRATORY EVENTS & OPENING DEALS
The District launches with a series of celebratory events
September 19 through September 22 –
including more than ten experiential activations to create a
whimsical, imaginative world that encourages guests to "Go For It"
– setting the standard for the type of exciting programming that
will take place year-round.
"Play in the District" weekend activities include:
- OPENING CEREMONY, Thursday, September
19, 2019, at 11:30 a.m.: Join
the Honorable Mayor Kenney, PREIT CEO Joseph F. Coradino, Macerich CEO Tom O'Hern and Master of Ceremonies, President
and CEO of the Philadelphia Convention & Visitors Bureau Julie
Coker Graham at the official opening ceremony of Fashion District
Philadelphia. Outside The Cube Plaza at 9th &
Market, city and state officials will join partners PREIT and
Macerich in welcoming guests through the doors of The District for
the first time. Marked by confetti cannons, exterior screen
animation and a special performance by a local marching band, the
opening ceremony will officially mark this important milestone for
the City of Philadelphia.
- EXPLORE THE DISTRICT, Thursday,
September 19, 2019, 5 – 8
p.m.: Stop by The District for an after-work happy hour to
shop, sip and explore in a modern and chic way. Enjoy a fun-filled
shopping experience with pop hits by the Philadelphia String
Quartet with DJ, complimentary wine sampling and illustrations from
Philly's own fashion illustrator Denise
Fike. Plus, shoppers who make a purchase of $25+ are
eligible to show their receipt at Concierge Services on street
level at 9th & Market for a FREE Fashion District
gift.
- LIVE FASHION SHOW, Thursday, September
19 & Friday, September 20,
2019, 6 – 8 p.m.: Capitalizing
on the authenticity and trend-setting nature of Philadelphia, this non-traditional fashion
show will feature clothes and accessories from Fashion District's
world-class retailers showcased by live models on pedestals. Styled
by the team behind Philadelphia Fashion Week, retailers include
Columbia, Nike Factory Store,
Wills Eye Wear, Burlington, South
Fellini and more!
- TASTE THE DISTRICT, Thursday, September
19 & Friday, September 20,
2019, 12 – 2 p.m.: Activate
your taste buds during your lunch hour at Market Eats. With
giveaways from Chick-fil-A, BurgerFi, Oath Pizza and Tiffany's
Bakery, visitors can enjoy Philly's newest grab-n-go dining spot.
Don't miss Fashion District's mega prize wheel to score FREE Market
Eats gift cards, along with live entertainment, including a special
appearance by a beloved Philly icon!
- GUIDED ART CRAWLS, Thursday, September
19 – Sunday, September 22,
2019, at 1 p.m. &
6 p.m.: Be one of the first to
experience The District's multifaceted art collection, presented by
distinguished artists such as Philadelphia's Eileen
Neff and Ryan McGinness. The
collection features over $1 million
in commissioned art and includes a mix of installations showcasing
contemporary murals, pop art, 3-D designs, digital art and more. To
participate in a complimentary art tour, please check in at
Concierge Services on street level at 9th & Market
at 1 p.m. or 6
p.m.
- GO FOR IT PARK & ENTERTAINMENT, Thursday, September 19 – Sunday, September 22, 2019, during hours of
operation: Enjoy high-quality local entertainment and performances
throughout the entire weekend. Watch as high-energy performers take
center stage to share their amazing talents, highlighting the
uniqueness and diversity that make Philadelphia great. In addition, attendees can
enjoy pop-up parks throughout the space featuring oversized games,
LED swings, a brightly colored seesaw, one-word poets, a paper
flower wall photo opportunity and more!
- POP-UP ART & FASHION EXPERIENCE, Friday, September 20, 2019, 5 – 8 p.m.: Experience the unique fusion of
Philadelphia's art and fashion
scene at The District's Pop-up Art & Fashion event. This
art-meets-fashion inspired event will feature a live performance by
Chill Moody, interactive mural paintings, an activation by Mural
Arts Philadelphia, complimentary cocktail sampling, guided art
crawls, GIF selfie stations and more!
- ZEN AT THE DISTRICT, Saturday, September
21, 2019, 9 a.m. – Noon: Start
your weekend off right by moving your body and relaxing your mind
at The District. Enjoy a Zen garden featuring a DIY aromatherapy
station, a complimentary bootcamp workout by Triyo Fitness, healthy
food tips, an interactive meditation experience with Luna Maye, FREE samplings and more! Grab a
friend and stop by for a morning of relaxation, wellness and
health-focused offerings. All attendees who participate in the
workout will receive a free Fashion District gift.
- SOUNDS OF THE DISTRICT, Saturday,
September 21, 2019, 5 – 8
p.m.: Celebrate Philadelphia's rich history and culture with
local performances by the Philadelphia Pops, Rachel Andie, Zeek
Burse, gospel acts and more. Hosted by REC Philly's
Co-Founder Will Toms, Philly's
greatest talents will be showcased in the heart of Philly's newest
entertainment destination.
- FUN FOR ALL TAILGATE AT THE DISTRICT, Sunday, September 22, 2019, 11 a.m. – 2 p.m.:
Join The District for a day of family fun at the Go Birds Tailgate
Party. Enjoy live music, an appearance by 97.5 The Fanatic's
Natalie Egenolf, face painting,
over-sized games, sports trivia, and AMC Theater gift card prizes,
while treating yourself to free popcorn and a DIY candy bar. Don't
forget to wear green – Go
Eagles!
For more information and the complete list of Launch weekend
events and activations, visit:
https://fashiondistrictphiladelphia.com/calendar.
Great Deals:
Many of Fashion District's new stores,
dining and entertainment venues will be offering introductory
deals. You can view the offers at:
https://fashiondistrictphiladelphia.com/sales.
About Fashion District Philadelphia
Fashion District
Philadelphia is the first robust retail and entertainment offering
of its kind in Downtown
Philadelphia. Spanning three city blocks, The District will
feature over 800,000 square feet of dynamic offerings including
flagship, traditional full price, off-price and branded outlet
retail, experiential dining and entertainment, along with public
art and evolving cultural events. With a prime location in
Center City, The District is just
steps away from Philadelphia's
historic district and connected to Reading Terminal, the
Pennsylvania Convention Center and
SEPTA's Jefferson Station – a convenient, transit-oriented location
offering accessibility for millions of Philadelphia residents, commuters and
visitors. Additional information is available at
www.fashiondistrictphiladelphia.com or on Facebook,
Twitter or Instagram.
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.
About Macerich
Macerich, an S&P 500 company, is a fully integrated
self-managed and self-administered real estate investment trust,
which focuses on the acquisition, leasing, management, development
and redevelopment of regional malls throughout the United States.
Macerich currently owns 52 million square feet of real estate
consisting primarily of interests in 47 regional shopping centers.
Macerich specializes in successful retail properties in many of the
country's most attractive, densely populated markets with
significant presence on the West Coast, Arizona, Chicago and the Metro New York to Washington, DC corridor. A recognized leader
in sustainability, Macerich has earned NAREIT's prestigious "Leader
in the Light" award every year from 2014-2018. For the fourth
straight year in 2018 Macerich achieved the #1 GRESB ranking in the
North American Retail Sector, among many other environmental
accomplishments. Additional information about Macerich can be
obtained from the Company's website at www.Macerich.com.
Forward Looking Statements
This
press release contains certain forward-looking statements that can
be identified by the use of words such as "anticipate," "believe,"
"estimate," "expect," "project," "intend," "may" or similar
expressions. Forward-looking statements relate to expectations,
beliefs, projections, future plans, strategies, anticipated events,
trends and other matters that are not historical facts. These
forward-looking statements reflect our current views about future
events, achievements or results and are subject to risks,
uncertainties and changes in circumstances that might cause future
events, achievements or results to differ materially from those
expressed or implied by the forward-looking statements. In
particular, our business might be materially and adversely affected
by changes in the retail and real estate industries, including
consolidation and store closings, particularly among anchor
tenants; current economic conditions and the corresponding effects
on tenant business performance, prospects, solvency and leasing
decisions; our inability to collect rent due to the bankruptcy or
insolvency of tenants or otherwise; our ability to maintain and
increase property occupancy, sales and rental rates; increases in
operating costs that cannot be passed on to tenants; the effects of
online shopping and other uses of technology on our retail tenants;
risks related to our development and redevelopment activities,
including delays, cost overruns and our inability to reach
projected occupancy or rental rates; acts of violence at malls,
including our properties, or at other similar spaces, and the
potential effect on traffic and sales; our ability to sell
properties that we seek to dispose of or our ability to obtain
prices we seek; our substantial debt and the liquidation preference
of our preferred shares and our high leverage ratio; our ability to
refinance our existing indebtedness when it matures, on favorable
terms or at all; our ability to raise capital, including through
sales of properties or interests in properties and through the
issuance of equity or equity-related securities if market
conditions are favorable; and potential dilution from any capital
raising transactions or other equity issuances. Additional factors
that might cause future events, achievements or results to differ
materially from those expressed or implied by our forward-looking
statements include those discussed herein and in our Annual Report
on Form 10-K for the year ended December 31,
2018 in the section entitled "Item 1A. Risk Factors" and our
Quarterly Report on Form 10-Q for the quarterly period ended
June 30, 2019 in the section entitled
"Item 1A. Risk Factors." We do not intend to update or revise any
forward-looking statements to reflect new information, future
events or otherwise.
Media Contact:
Brownstein Group on behalf
of
Fashion District Philadelphia
fdp@brownsteingroup.com
215-735-3470
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SOURCE Fashion District Philadelphia