PREIT executed a quarter-million sq. ft. of leases in 2025
Philadephia-based PREIT reported that it closed on 255,000 square feet’s worth of lease last year, some 80% of them brands that are new to the super-regional mall developer.
The most popular asset categories entering the PREIT fold were apparel, dining, specialty retail, and early phases of mixed-use development.
Highlights include:
Cherry Hill Mall (N.J.): Recent openings include Coach, Offline by Aerie, Dr. Martens, Pop Mart, and Mango. Foundations are being put in for a 120,000-sq.-ft. Dick’s House of Sport.
Woodland Mall (Mich.): Welcomed Texas de Brazil — the first in the PREIT portfolio — and Garage, an experiential dining addition. Popmart and Swarovski will debut in the center in 2026.
Mall at Prince George’s (Md.): Primark will open in 2026, expanding the property’s roster of high-demand fashion retailers.
Viewmont Mall (Md.): New openings — including Carter’s and The Children's Place — continue to strengthen the center’s family-focused retail mix.
Dartmouth Mall (Mass.): Key additions this year include Boot Barn, Locker Room by Lids, Cinnabon, Carvel and Chick-fil-A.
Springfield Town Center (N.J.): Construction is underway on a 460-unit apartment community that supports the long-term, multi-million-square-foot mixed-use vision for the property.
“The momentum across our properties reflects the strength of our markets and the quality of the operators choosing to invest in them,” said Joe Aristone, chief revenue officer at PREIT. “Our team remains focused on delivering a balanced mix of retail, dining, lifestyle, and daily-needs offerings that add value for tenants and visitors alike.”
PREIT is a privately held real estate investment firm that owns and manages retail-centric, community-focused properties developed to serve as economic and social anchors.
In 2024, the mall developer emerged from Chapter 11 for the second time in three years and installed Jared Chupaila, formerly CEO of Brookfield Properties, as its chief executive.
