[M II A II R II K]

Major Expansion of King of Prussia Mall


Nov. 29, 2011

Read More: http://www.marketwatch.com/story/maj...all-2011-11-29

Simon Property Group, Inc., the country's largest owner, developer and manager of high quality retail real estate, announced today its plan to unify the two main shopping venues of King of Prussia Mall, expanding one of America's most productive and iconic retail destinations. This noteworthy project will entail an enclosed multi-level expansion connecting the five-anchor, 1,680,000 square foot Plaza, and the two-anchor, 902,000 square foot Court. The 140,000 square foot expansion will include approximately 40 exciting new retailers, several restaurants, an upscale dining pavilion and customer lounge. The timing of the project coincides with the upcoming 50th anniversary of the center and will further enhance one of the nation's largest and most successful retail venues.

- "This expansion will not only enhance the shopping experience, providing an enclosed retail and amenity-filled link between the two properties, but also creates much needed additional space to accommodate the demand that exists for this property," said David Contis, President of Simon Malls. "Given the productivity of this property, there is significant demand from retailers and restauranteurs unique to the market wishing to cater to our clientele." Already underway is a major redevelopment of the center which will convert the former Strawbridge's building into a home for ten new retailers in a two-story, 100,000 square foot space. This redevelopment is set to debut in time for next year's holiday season. There are always new retailers opening at King of Prussia. New stores in 2011 have included: L.L. Bean, Love Culture, lululemon athletica, LUSH, Mammoth, Swim 'n Sport, True Religion Brand Jeans, Vera Bradley, and Wolford Boutique.

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