Macy’s Closings Raise Questions About Exton Square Mall’s Future

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Speculation is swirling about whether the Exton Square Mall will lose its Macy’s anchor next year; the department store is closing 100 locations.

Questions are swirling around the Exton Square Mall and owner Pennsylvania Real Estate Investment Trust in the wake of a Macy’s announcement that 100 of its stores will be closed in 2017.

Though Macy’s hasn’t said which locations will lose the famous department store, the Exton Square Mall is one of six PREIT malls where Macy’s serves as an anchor; Macy’s has a store presence in 14 of PREIT’s Philly area locations and 22 nationwide, totaling 14 percent of all its space, according to a Philadelphia Business Journal report by Natalie Kostelni.

The Exton Square Mall is already trying to rebound from losing JC Penney. Renovations are currently underway to bring in two big tenants: Whole Foods and Round 1 Entertainment.

“In a recent investor update, the company said that it continued to make diversifying anchors, reducing exposure to them and shrinking the amount of space they occupy a priority,” the article stated.

“As part of that endeavor, it has met with 35 new retailers and 39 restaurants and entertainment tenants, such as Amazon, Tesla, REI, Kona Grill, Iron Hill Brewery and others, to replace underperforming tenants.”

Read more about where the Exton Square Mall stands in relation to potential Macy’s closings in the Philadelphia Business Journal here, and check out previous VISTA Today coverage of the mall here.

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