Turns out, malls and grocers were made for each other.
A few years ago, Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) renovated Plymouth Meeting Mall in Philadelphia’s northwestern suburbs.
The renovation replaced an old Ikea on the site with a lifestyle component called Plymouth Meeting Mall’s Plaza Shops, which leads customers to the mall entrance.
PREIT brought in a 65,000-sq.-ft. Whole Foods Market as the anchor.
“We like Whole Foods’ customers,” explained Joseph F. Coradino, PREIT’s CEO. “They have disposable income; they are well educated, edgy and fit. They also shop Whole Foods at least twice a week. We thought their shopping patterns might draw more customers to other stores."
It did. “Whole Foods has influenced a number of stores positively, including a C