PREIT Continues to Drive Portfolio Occupancy

370,000 Square Feet of Tenants Opened
420,000 Square Feet of New Leases Signed in 2022

PREIT (NYSE: PEI), today, highlighted continued momentum in store openings and occupancy across its portfolio.  As of June 30, 2022, PREIT increased total core mall occupancy by 480 basis points to 93.8% and 420,000 square feet of new leases were executed through the third quarter of 2022. New tenants will continue to open throughout this year and next, enhancing the value of the Company’s portfolio.

Among the new stores opened this year were four BoxLunches and two Lovisa stores, while four new Lovisas are set to open in 2023.  New-to-portfolio leases executed this year were Eddie V’s, Psycho Bunny and Levi’s at Cherry Hill Mall, Banfield Pet Hospital at Moorestown Mall, Edgewood Outfitters at Patrick Henry Mall, Honeygrow at Plymouth Meeting Mall, The Inspiration Co. at Springfield Town Center and JD Sports at Mall at Prince George’s and Willow Grove Park.

“Our portfolio continues to show strength and momentum, attracting expanding tenants that create property value,” said Joseph F. Coradino, Chairman and CEO of PREIT.  “Our portfolio of high-quality locations has provided us with a platform to create a uniquely compelling tenant mix that attracts customers, increases sales and enhance value for all of our stakeholders.”