Fashion-oriented department store expands to meet shopper demand
Philadelphia, PA, September 14, 2017 – PREIT (NYSE: PEI) announced that Herberger’s at Valley View Mall in La Crosse, WI has opened a 100,000 square foot store in the former Macy’s location to right-size its space, backfilling a store that closed just six months ago.
Right-sizing Herberger’s to meet the high-traffic shopping behaviors of the La Crosse region is another key milestone in our ambitious plan to replace closing anchor stores and better serve local consumers. This represents one of six diverse tenants backfilling vacant department stores this year as we make further progress in improving the overall appeal of our portfolio by enhancing anchor positions.
A major shopping hub in the La Crosse region, Valley View Mall attracts shoppers in a 50-mile radius. It features a diverse lineup of retail, dining and entertainment experiences, including Francesca’s, Apricot Lane, Victoria Secret, Build-a-Bear Workshop, Express, Zumiez, ULTA and Texas Roadhouse, among others.
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 or on Twitter or LinkedIn.