Philadelphia, PA – August 2, 2018
– Fashion District Philadelphia
, a joint venture partnership between Macerich and PREIT, today unveils a series of impactful project milestones, including dynamic tenants and community programming reflective of the vision and significant nature of this project’s impact and reach in Philadelphia. With over 650,000 square feet of space, or more than 80%, leased or in active negotiations, the new additions create a vibrant destination for shopping, dining, socializing and playing, cementing the next generation of consumer experiences. As the retail landscape evolves to further integrate lifestyle and dining concepts, the project has advanced its tenancy to reflect the brand pillars in four key areas in one operating platform: Style, Dining, Entertainment, and Arts & Culture.
“The project’s well-curated offerings create a one-of-a-kind destination that blends shopping, dining, entertainment and culture demonstrative of the day-to-night appeal of this uniquely situated property reflective of what locals and visitors crave,” said Joseph F. Coradino, CEO of PREIT. “Philadelphia and the retail environment have evolved dramatically since this project’s inception and we are unveiling a cohesive offering befitting this world-class city.”On STYLE
Offering a unique combination of flagship, off-price, fast-fashion, traditional full price and branded outlet stores, Fashion District will offer mass appeal to a diverse customer base, combining a high quality experience with accessible style.
The project’s tenancy will include sought-after brands: Polo Ralph Lauren, H&M, Forever 21, Zumiez, Asics, Zales, G by Guess, Columbia, francesca’s, Levi’s, Skechers
with leases being negotiated with in-demand destinations like ULTA Beauty and more. These new additions will join the already open Century 21
stores. On DINING
Helping to cement Philadelphia’s reputation for great food offerings and solidify the destination experience, Fashion District Philadelphia will offer a collection of unique dining concepts, ranging from fast casual, to sit down, to quick bites and cross-over live entertainment.
Dining highlights include: City Winery
, a culinary and cultural wine experience offering intimate concerts, food and wine classes, private events and fine dining in a city setting, marking the brand’s seventh location in the country; Dallas BBQ, a casual dining experience representing the brand’s first restaurant outside of New York City; Dallas BBQ is a NYC staple famous for affordable chicken & ribs and texas-size frozen drinks. Dallas BBQ is Proudly employee-owned in New York City; Market Eats
, a collection of restaurants and eateries through a partnership with Aramark
to add a modern grab-n-go food market with access to SEPTA’s Jefferson Station offering Chickie’s & Pete’s, Chick-fil-A, Oath Pizza, Burger Fi, Pei Wei, Freshii and la Madeleine.
City Winery & Dallas BBQ will join additional concepts in kick starting the revitalization of Filbert Street, where alfresco dining and outdoor events will transform the street into a hub for interactive experiences.
”We are so proud to open our seventh location in a city that has such a rich history and passion for both music and cultural experiences as well as a dynamic food scene. In line with the Fashion District team’s vision, we are bringing to Philadelphia a venue unlike any other in the city - combining a fully functioning winery with intimate concerts, food & wine classes, private events in a variety of configurations, and fine dining,” offered Michael Dorf, CEO of City Winery. On ENTERTAINMENT
As part of its effort to deliver an engaging atmosphere ripe with social experiences, Fashion District will feature a dedicated third-floor entertainment zone. A second entertainment operator will join AMC Theatres
– Center City’s first movie theatre since 2002 – offering in-theater dining, reclining seats, and a bar. As dining and entertainment continue to capture consumer spending, these concepts will support local demand for social experiences.On ARTS & CULTURE
As part of Fashion District’s commitment to fostering positive change and civic engagement, Fashion District is unveiling a series of commitments to the Philadelphia community. These include: $1 million in commissioned art installations
throughout the property, in conjunction with the Philadelphia Redevelopment Authority’s Percent for Art project, a $100,000 philanthropic commitment
, a three-year collaboration with Philadelphia-based non-profit programs and Uniquely Philly
, a curated collection of authentically Philadelphia offerings creating opportunity for local businesses to establish a presence and capitalize on the foot traffic of this high profile destination. GRAND OPENING TIMELINE
As the partnership continues to execute on the vision, it is clear that in order to maximize overall success, it is best for Fashion District Philadelphia to deliver collectively with one high-impact grand opening in September 2019.
The large-scale, complex nature of this experience-rich, multidimensional project – including transactions in progress with a top-quality entertainment tenant featuring bowling, ping pong, billiards and other games as well as an artisanal Italian market with a culinary events, restaurant and retail space – has extended the timeline. About Fashion District Philadelphia
Fashion District Philadelphia will deliver a robust retail and entertainment offering unlike any other in downtown Philadelphia. Spanning three city blocks, it will feature over 800,000 square feet of dynamic offerings, including flagship, traditional full price, off-price and branded outlet retail, destination dining and entertainment, along with public art and evolving cultural events. With a prime location in Center City, Fashion District Philadelphia is just steps away from Philadelphia’s historic district and connected to Reading Terminal, the Pennsylvania Convention Center and SEPTA’s Jefferson station – offering convenience and accessibility for millions of Philadelphia residents, commuters and visitors.
Fashion District Philadelphia is a joint venture partnership between Macerich and PREIT. For regular updates and more information, visit www.FashionDistrictPhiladelphia.com
PREIT (NYSE:PEI) is a publicly traded real estate investment trust that owns and manages quality properties in compelling markets. PREIT's robust portfolio of carefully curated retail and lifestyle offerings mixed with destination dining and entertainment experiences are located primarily in the densely populated eastern U.S. with concentrations in the mid-Atlantic's top MSAs. Since 2012, the company has driven a transformation guided by an emphasis on portfolio quality and balance sheet strength driven by disciplined capital expenditures. Additional information is available at www.preit.com
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Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.
Macerich currently owns 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence in the Pacific Rim, Arizona, Chicago and the Metro New York to Washington, D.C. corridor.
A recognized leader in sustainability, Macerich has earned NAREIT’s prestigious “Leader in the Light” award every year from 2014-2017. For the third straight year in 2017 Macerich achieved the #1 GRESB ranking in the North American Retail Sector, among many other environmental accomplishments. Additional information about Macerich can be obtained from the Company's website at www.macerich.com
Brownstein Group on behalf of
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