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PREIT adds key tenants to premier malls
Philadelphia -- Shopping center owner PREIT said that it will add several key – and some first-to-market – tenants to several of its upscale malls.
At Cherry Hill (New Jersey) Mall, new tenants include lululemon athletica, Tumi, and e.l.f. studio; Primark will open in 2016 at Willow Grove (Pennsylvania) Park; and Garage will open at Woodland Mall, in Grand Rapids, Michigan.
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California mall operator rejects $22 billion Simon bid
Santa Monica, Calif. – Macerich Co., a California-based mall operator whose properties include Tysons Corner Center in Tysons Corner, Virginia, has rejected a hostile $22 billion takeover bid from Simon Property Group Inc. Macerich has publicly stated it thinks the deal undervalues its portfolio and growth opportunities.
"It is truly disappointing Macerich would not even meet to discuss our proposal," said Simon Property CEO David Simon. "Macerich's rejection is based on a rosy view of its future prospects."

