Fashion District Philadelphia Announces Impactful Opening Results
Momentum Continues with Notable Brands Industrious, Kate Spade New York and Others
PHILADELPHIA, Feb. 24, 2020 /PRNewswire/ -- Fashion District Philadelphia, a joint venture partnership between PREIT and Macerich, today highlights strong momentum in its inaugural five months. Since September 2019, numerous fashion and experiential marquee tenants have opened their doors, with next in line to be flexible workplace provider, Industrious.
Industrious, a leader in the burgeoning coworking industry, will offer all-inclusive amenities such as complimentary breakfast, fast WiFi, conference rooms and more, bringing a new dimension and shopper to the project further capitalizing on its bullseye location.
Notable recent additions to the property include outlet tenants: Armani Exchange Outlet and Eddie Bauer Outlet; full-price retail: Sephora and Torrid; and experiential destinations: AMC Theaters, Round 1, Wonderspaces and REC Philly.
On the food and beverage front, joining favorites such as Chickie's & Pete's and City Winery, The District will soon welcome several new specialty food offerings, including Poke Sushi Express, Potato Corner, Wetzel's Pretzels, and Big Gay Ice Cream.
And, momentum will continue as it welcomes more new-to-Philadelphia tenants, including: Kate Spade New York, DSW, Windsor, Yoyoso and Clair de Lune this spring. These exciting retail brands will be joined by International fast fashion retailers, Primark and Ardene.
"We opened the doors of Fashion District Philadelphia to an enthusiastic crowd and have welcomed over 4.6 million shoppers since then," said Joseph F. Coradino, CEO of PREIT. "As we enter our first full year of operation, we are pleased to have cemented the tenant mix of the future, introducing experiential retailers such as Wonderspaces and Round 1, as well as popular apparel brands with mass appeal. We expect to capitalize on the momentum created thus far and solidify The District as Philadelphia's go-to destination for style, dining, entertainement, and arts & culture."
The scale of Fashion District Philadelphia's milestones underscores the properties' impact on the city:
The first half of 2020 brings about new vigor to the property as The District further diversifies its offerings with fifteen new tenants spanning dining, apparel, makeup and accessories concepts, as well as a brand new co-working space.
About Fashion District Philadelphia
Macerich currently owns 51 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 in the West Coast, Arizona, Chicago and the Metro New York to Washington, DC corridor. A recognized leader in sustainability, Macerich has achieved the #1 GRESB ranking in the North American Retail Sector for five straight years (2015 – 2019). Additional information about Macerich can be obtained from the Company's website at www.Macerich.com.
Forward Looking Statements
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 September 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.
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SOURCE Fashion District Philadelphia
Company Codes: NYSE:PEI
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