REAL ESTATE

Moorestown Mall completes leasing of former Macy’s box

BY Al Urbanski

Michael’s has signed a lease for 25,000 sq. ft. at Moorestown Mall to complete the re-tenanting of the vacated Macy’s box at the New Jersey center. The crafts retailer joins HomeSense, Sierra Trading Post, and Five Below in the redesigned space.

Moorestown is just one of many PREIT-owned malls undergoing the adoption of what the company calls “the new mall platform.” Emptied department store spaces at PREIT properties are also being taken up by entertainment brands and dining and drinking establishments.

Moorestown is no exception, with Hash House A Go Go and Joe Italiano’s Maplewood joining an updated roster of restaurants.

“The changes we have made at Moorestown Mall are reflective of our efforts to create diverse retail and social experiences at our properties, transforming the mall model,” said Joseph Coradino, CEO of PREIT.

PREIT reports that $25 million in dining and entertainment sales at the Philadelphia-area mall are being generated by such tenants as Orangetheory Fitness, Yard House, Regal Cinemas, Firebirds Wood Fired Grill and Harvest Seasonal.

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