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Addition of new lifestyle brand demonstrates PREIT's continued tenancy upgrades and meaningful portfolio quality improvement
PHILADELPHIA, Sept. 2, 2014 /PRNewswire/ -- Pennsylvania Real Estate Investment Trust (PREIT/NYSE: PEI) announced today that Field & Stream, a specialty retail concept owned by Dick's Sporting Goods that carries the best brands to meet the evolving needs of hunters, anglers and outdoorsmen, will open next year at Capital City Mall. The location will be added to the lineup of only six existing stores nationwide and represents another first-to-portfolio tenant for PREIT. The Company announced earlier this year that it had executed leases with Uniqlo and Retail Group of America, delivering on its promise to improve portfolio quality by introducing exciting new brands to the markets it serves.
Capital City Mall's 50,000 sq. ft. Field & Stream store will be the third Pennsylvania location for the chain, which caters to a male customer and provides the best outdoor brands and products available with a focus on high-level customer service.
"The addition of Field & Stream at Capital City Mall will attract outdoor enthusiasts from far beyond our existing trade area," said PREIT CEO Joseph F. Coradino. "We are proud to be improving the tenant roster at this high-performing asset while also enhancing the shopper experience for our customers by providing them with another unique retail destination."
Capital City Mall is a 615,000 square foot mall located in the Harrisburg, PA market and is anchored by Macy's, jcpenney and Sears. Other tenants added within the past year or recently signed include The Buckle, Francesca's and Zumiez.
About Pennsylvania Real Estate Investment Trust
PREIT is a real estate investment trust specializing in the ownership and management of differentiated retail shopping malls designed to fit the dynamic communities they serve. Founded in 1960 as Pennsylvania Real Estate Investment Trust, the Company owns and operates over 30 million square feet of space in properties in 12 states in the eastern half of the United States with concentration in the Mid-Atlantic region and Greater Philadelphia. PREIT is headquartered in Philadelphia, Pennsylvania, and is publicly traded on the NYSE under the symbol PEI. Information about the Company can be found at www.preit.com or on Twitter or LinkedIn.
About Field & Stream Specialty Store
Named for the iconic brand that for more than 140 years has been synonymous with outdoor experiences, the Field & Stream store will offer a vast assortment of outdoor equipment, accessories and services in hunting, fishing, archery, camping and more. The store carries a wide variety of top national outdoor brands, including Remington, Sitka, Sage, Simms, Shimano and Yeti and provides top of the line in-store services. The Field & Stream trademark is owned by American Sports Licensing Inc., and is not associated with Field & Stream Licenses Company, LLC or Field & Stream Magazine. DICK'S Sporting Goods, (NYSE: DKS), the largest U.S.-based full-line sporting goods retailer, owns and operates Field & Stream specialty retail stores and FieldandStreamShop.com.
CONTACT AT THE COMPANY:
VP, Corporate Communications and Investor Relations
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