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New jcpenney stores open at two PREIT shopping malls
08
Oct '12
Pennsylvania Real Estate Investment Trust (PREIT) announced the opening of new jcpenney stores at two of its properties, achieving a significant step in the Company’s execution of its leasing and merchandising strategy.

The stores, at PREIT’s Willow Grove Park in suburban Philadelphia and North Hanover Mall in Hanover, Pa, will feature jcpenney’s new “Shops” format, leading to a dynamic collection of 100 Shops, showcasing major apparel and home brands for every style and budget. Additionally, both new stores will feature 1,700 square foot “Sephora inside jcpenney” locations, which re-create the cosmetics and fragrance retailer’s distinctive open-sell retail concept.

“We’re excited about the opening of these new stores and believe that jcpenney’s focus on an improved shopping experience for its customers dovetails perfectly with PREIT’s commitment to deliver compelling shopping environments for our consumers,” said Joseph F. Coradino, CEO of PREIT. “We’re looking forward to introducing PREIT’s customers to the new retail environment created by the distinctive Shops.”

At Willow Grove Park, the opening of jcpenney’s 125,000 square foot store marks the completion of the transformation of the former Strawbridge’s department store space, which is now occupied by Nordstrom Rack, The Cheesecake Factory, and Bravo Cucina Italiana, in addition to the new jcpenney store.

At North Hanover Mall, the opening of the new store coincides with PREIT’s cosmetic remodel of the property, including new flooring, updated mall entrances, and energy efficient lighting. The 83,000 square foot jcpenney represents a 30,000 square foot expansion and relocation from the department store’s former location.

Pennsylvania Real Estate Investment Trust (PREIT)

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Courtesy: PIB

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