PREIT Brings New Tenants to MD Mall
- Jan 05, 2018
PREIT has secured two new experiential tenants for the Valley Mall in Hagerstown, Md. Tilt Studio and Onelife Fitness will occupy a total of 118,000 square feet within the retail center, taking the former space of Macy’s.
The shopping center is the dominant regional mall within a 30-mile radius, providing for a four-state market and benefiting from its location along the I-81 corridor. The area has convenient highway accessibility to Washington, D.C. and Baltimore.
Tilt Studio will occupy 48,000 square feet and will include bowling, black-light laser tag, black-light golf, arcade games and space for private events. Onelife Fitness’s third Maryland location at the mall in Hagerstown will take up 70,000 square feet and will feature indoor and outdoor pools.
Dynamic Tenant Mix
Belk has also chosen the Valley Mall as one of its three new store locations opening through the end of 2018, comprising a total investment of $40 million. The retail center’s current tenant mix includes H&M, Pandora and Torrid, a movie theatre and several restaurants, serving the needs of 1,000 hotel rooms within a half-mile radius.
Other tenants on the property are Mission BBQ, Primanti Brothers, Red Robin, Noodles & Co. and Regal Cinemas, the largest stadium seating theater within 25 miles. PREIT also announced that Regal Cinema will be upgraded soon, bringing new luxury reclining seats in a stadium seating format.
“The new mix of anchor stores at Valley Mall is another example of PREIT’s success in actively reimagining our portfolio as we forge into the new age of retail. Fitness and entertainment offerings enhance and diversify the mall experience, infusing already dominant properties with expanded value for shoppers,” said Joseph Coradino, CEO of PREIT, in prepared remarks.
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