PREIT Announces Signing of Dick's Sporting Goods at Cumberland Mall

Store will backfill former JC Penney location

Dec 16, 2015, 07:15 ET from PREIT

PHILADELPHIA, Dec. 16, 2015 /PRNewswire/ -- PREIT  (NYSE: PEI) announces its plans to open a Dick's Sporting Goods at Cumberland Mall in Vineland, New Jersey. The sports and fitness retailer, which offers brand name, high-quality sporting equipment, accessories, apparel and footwear at competitive prices, will occupy the former JCPenney Department Store space in a 50,000 square foot location.

PREIT CEO Joseph F. Coradino says this transaction demonstrates PREIT's continued success in replacing anchors with in-demand retailers. "The addition of Dick's Sporting Goods will improve the merchandise mix and solidify the tenant roster at Cumberland Mall. This transactions cements Cumberland Mall's position as a dominant retail hub in the area and adds to its appeal catering to a wide variety of consumers."

Cumberland Mall, currently anchored by Boscov's, Burlington Coat Factory, Marshalls, ULTA and Regal Cinemas, features more than 90 specialty retailers and dining establishments including Applebee's, American Eagle Outfitters, Bath & Body Works, Chick-Fil-A, Kay Jewelers, Old Navy, Red Lobster, Red Robin, Rue21, Starbucks, and Victoria's Secret.  The property is also home to several big box retailers including BJ's Wholesale Club, The Home Depot,  Toys 'R' US/Babies 'R' US and Michaels.

About Pennsylvania Real Estate Investment Trust PREIT (NYSE: PEI) is a publicly traded real estate investment trust specializing in the ownership and management of differentiated shopping malls.  Headquartered in Philadelphia, Pennsylvania, the company owns and operates approximately 27 million square feet of retail space in the eastern half of the United States with concentration in the Mid-Atlantic region's top MSAs. Since 2012, the company has seen a transformation guided by an emphasis on balance sheet strength, high-quality merchandising and disciplined capital expenditures.  Additional information is available at www.preit.com, on Twitter or LinkedIn

About DICK'S Sporting Goods DICK'S Sporting Goods, Inc. is an authentic full-line sports and fitness specialty omni-channel retailer offering a broad assortment of high quality, competitively-priced brand name sporting goods equipment, apparel and footwear in a specialty store environment. For more information, visit dickssportinggoods.com

CONTACTS: AT THE COMPANY Heather Crowell VP, Corporate Communications and Investor Relations (215) 454-1241 crowellh@preit.com

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SOURCE PREIT



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