Addition will provide an extraordinary shopping experience
PHILADELPHIA, PA, 2015-8-6— /EPR Retail News/ — PREIT (NYSE: PEI) announced a new lease with Whole Foods Market to open at Exton Square Mall in Exton, PA.
The 55,000-square foot store will complement the plans to redevelop the property, bringing a unique and engaging shopping experience this part of Chester County. Located on a site consisting of approximately 10 acres along Route 100, customers will gain improved access to the new addition as the existing mall, which will be remerchandised.
“The redevelopment of Exton Square Mall, with Whole Foods Market as a catalyst, will draw other distinctive and high quality retailers, restaurants and entertainment venues,” said Joseph Coradino, CEO of PREIT. “This project will better serve the region’s customers by offering a new experience and differentiated environment.”
Whole Foods Market currently has 424 stores worldwide, with 46 in the Mid-Atlantic region. As a leading natural and organic foods grocer, the company is committed to transparency and maintaining the industry’s highest quality standards, which don’t allow artificial flavors, colors, sweeteners, preservatives or hydrogenated fats in any of the food it sells.
“Satisfying, delighting and nourishing customers is a core value of Whole Foods Market, and this Exton location will provide us with yet another opportunity to do just that in the greater Philadelphia area,” said Whole Foods Market Regional President Scott Allshouse. “We strive to provide the highest quality products and handcrafted food and drink, including locally-grown and made items, as we live up to the name ‘America’s Healthiest Grocery Store.'”
PREIT is a real estate investment trust specializing in the ownership and management of differentiated retail shopping malls designed to fit the dynamic communities they serve. Founded in 1960 as Pennsylvania Real Estate Investment Trust, the Company owns and operates approximately 28 million square feet of space in properties in 12 states in the eastern half of the United States with concentration in the Mid-Atlantic region and Greater Philadelphia. PREIT is headquartered in Philadelphia, Pennsylvania, and is publicly traded on the NYSE under the symbol PEI. Information about the Company can be found at preit.com or on Twitter or LinkedIn.
About Whole Foods Market®
Founded in 1980 in Austin, Texas, Whole Foods Market (wholefoodsmarket.com), is the leading natural and organic food retailer. As America’s first national certified organic grocer, Whole Foods Market was named “America’s Healthiest Grocery Store” by Health magazine. The company’s motto, “Whole Foods, Whole People, Whole Planet”™ captures its mission to ensure customer satisfaction and health, Team Member excellence and happiness, enhanced shareholder value, community support and environmental improvement. Thanks to the company’s more than 88,000 team members, Whole Foods Market has been ranked as one of the “100 Best Companies to Work For” in America by FORTUNE magazine for 17 consecutive years. In fiscal year 2014, the company had sales of more than $14 billion and currently has more than 405 stores in the United States, Canadaand the United Kingdom.
VP, Corporate Communications and Investor Relations