PREIT, which exited from Chapter 11 protection in December just a month after it filed for it, has added one of the nation’s fastest-expanding supermarkets to its mall re-tenanting menu.
Aldi has signed a lease for a 21,000-sq.-ft. space at Dartmouth Mall in Dartmouth, Mass., and plans a Q4 2021 opening alongside another new tenant, Burlington, plus Macy’s, H&M, Old Navy, and Five Below.
“The addition of Aldi to Dartmouth epitomizes PREIT’s go-forward strategy to redefine our assets to serve a multitude of purposes,” said PREIT CEO Joseph F. Coradino.
The big mall owner’s post-pandemic strategy is focused on reinventing its malls as multi-use destinations blending components including multifamily housing, hotels, entertainment, dining, health and wellness, green space, working space, and local small-business retail.
“We want to complement Dartmouth Mall’s already strong performance with the addition of best-in-class tenants to satisfy customers from day to night,” Coradino said.