Dick’s Sporting Goods to take former Sears space at Capital City Mall
Dick’s Sporting Goods will be relocating one of its stores in the Harrisburg, Pennsylvania, metro to space formerly inhabited by Sears at PREIT’s Capital City Mall.
The Sears store at the 614,000-sq.-ft. property in Camp Hill, west of the state capital, is one of three recaptured this year by the Philadelphia-based developer. The other two were located at Woodland Mall in Grand Rapids, Michigan, and Magnolia Mall in Florence, South Carolina. Since 2012, PREIT has reduced the number of Sears and Kmart stores in its portfolio from 27 to 11.
“We are excited to have executed leases for all three Sears stores we recaptured,” said Joseph F. Coradino, CEO of PREIT. "This project is another step in our plan to continue upgrading our portfolio of properties following our aggressive disposition and repositioning program.”
PREIT anticipates customer traffic boosts from the addition of new retailers to the mix that will generate incremental returns to the company in the range of 7%-9%. Tenants at Capital City include Macy’s, H&M, J.C. Penney, and Field & Stream.
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