King of Prussia Mall Expansion Moves Forward Adding Two Luxury Brand Stores
Source: Vista.Today Ken Knickerbocker
King of Prussia Mall’s new massive expansion has netted two big names to its lineup of stores. Shoe retailer Jimmy Choo and the women’s apparel and accessories designer Diane von Furstenberg will be opening their stores in the new corridor, adding to the mall’s luster and bringing the expansion one step closer to becoming fully operational.
The mall’s owner has already issued leases to the first retailers who will be moving into the newly constructed corridor which links the Plaza with the Court, writes SuzetteParmley for philly.com.
“We’re now at a transition point with the completion of the connector,” said David Contis, President of Simon Property Group which owns the mall. “We’re now turning over spaces today to retailers to start construction of their interior spaces.”
The expansion has been lauded by retail analysts as bringing additional strength to one of the best performing malls in the country. King of Prussia is one of the very few malls in the nation that real estate research firm Green Street Advisors L.L.C. has given a A++ rating, based partly on the impressive $975 per square foot in sales it achieves.
Considering all the advantages it offers, including its size, location, and easy access for vehicles from I-76 and the Diane von Furstenberg, King of Prussia Mall boasts some of the most sought after retail space not only in the U.S., but globally as well.
Since the new 1,108 space garage has also been completed, Contis pointed out that turning over the leases to future tenants marks the beginning of the second phase of the project, with interior and exterior finishes still to be done.
The construction of the expansion, which began in the second half of 2014, is expected to be finished by fall this year.
The structure will create room for 50 new stores, among them two dozen luxury brands, in addition to more restaurants and a new dining pavilion. Once the whole project is finished, King of Prussia Mall will become second largest mall in the country, just behind the Mall of America in Bloomington.