REAL ESTATE

Double-digit traffic gains reported at re-curated malls

BY Al Urbanski

PREIT, whose CEO Joe Coradino has been on a five-year crusade to re-make its enclosed malls for a new generation of shoppers, reported encouraging results on the first weekend of the holiday shopping season.

Traffic was up by 13% at Woodland Mall in Grand Rapids, Mich., where tenants such as Altar’d States, Hollister, and Victoria’s Secret were the draws. Von Maur, Urban Outfitters, and REI will join the mall’s roster in 2019.

Viewmont Mall in Scranton, Pa., experienced an 11% surge. A vacated Sears on the property has been filled by Dick’s Sporting Goods, Field & Stream, and HomeGoods.

The recent opening of HomeSense and Five Below in the former Macy’s space at Moorestown Mall in New Jersey helped ignite a near 9% traffic increase over the Thanksgiving weekend. Coming soon will be Sierra Trading Post and eateries Hash House a Go Go and Joe Italiano’s Maplewood.

”We’re confident that this data is a strong indicator for the rest of the season,” Coradino said.’

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