PREIT strategy brings new retailers to Virginia mall

Philadelphia — Pennsylvania Real Estate Investment Trust has executed leases with Retail Group of America to bring three international brands F&F, Flormar and SuiteBlanco to the Patrick Henry Mall in Newport News, Virginia. The transactions illustrate PREIT’s strategy for improving portfolio performance by seeking out emerging, first-to-market options.

With the Retail Group of America agreement, PREIT continues to bring international brands to its locations across the Mid-Atlantic region. Other examples: PREIT is introducing one of the first Uniqlo stores into the Philadelphia market at Willow Grove Park. In 2013, Dynamite, a women’s ready-to-wear concept from Canada, opened one of its first U.S. stores at PREIT’s Cherry Hill Mall. In 2012, three Australian Cotton On stores opened in PREIT malls.

F&F, a fast fashion concept featuring men’s, women’s and children’s assortments, will occupy approximately 7,500 sq. ft. at the Patrick Henry Mall. Flormar, an affordable cosmetics concept, will occupy approximately 800 sq. ft. Spanish brand SuiteBlanco, inspired by the high-end runway fashions, will occupy approximately 3,000 sq. ft. featuring a variety of trendy clothing and accessories for young men and women.

PREIT and Retail Group of America are working on a number of other potential store openings at other PREIT properties.

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