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:
- 4.6 million customers
- 20 stores opened since September
- 11 charities and organizations supported
- 40 free & family-friendly activations offered
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
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 innovative properties at the forefront of shaping consumer experiences through the built environment. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in densely-populated, high barrier-to-entry markets with tremendous opportunity to create vibrant multi-use destinations. Additional information is available at www.preit.com or on Twitter or LinkedIn.
About Macerich
Macerich 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 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.
