PREIT Looks Forward to Welcoming Coveted Brand Primark to Mall at Prince George's

PREIT (OTC:PRET) has announced the execution of a lease with Primark at Mall at Prince George's in Hyattsville, MD. The retailer will take 30,000 square feet and plans to open in 2025. The store will be located in the space formerly occupied by JC Penney, highlighting PREIT's robust track record of replacing anchor stores across its portfolio.

Primark recently announced their plan for continued expansion in the U.S., anticipating growing their store from 24 locations to 60. Primark will join the diverse tenant mix at the mall, inclusive of dining options: Chipotle, Mezeh Mediterranean Grill, Miller's Ale House, Hook & Reel and others, popular apparel and accessory options H&M, DSW, Old Navy and Victoria's Secret, beauty favorite Ulta, as well as Planet Fitness and Target, amplifying PREIT's commitment to making their properties one-stop shops for dining, entertainment, shopping, and more.

Located just outside of Washington DC, Mall at Prince George's is perfectly positioned to benefit from this tenant addition. Situated along the Metro Green Line and approximately 15 miles from Amazon HQ2 in Crystal City, Hyattsville is a densely populated city, resulting in strong existing foot traffic set to improve as a result of the addition of Primark to the diverse tenant mix at Mall at Prince George's.

"Welcoming Primark to the Mall at Prince George's signifies not just a valuable addition to our diverse tenant mix, but a powerful magnet for driving traffic and attracting consumers," says Joseph F. Coradino, CEO of PREIT. "This move aligns with our overarching mission to create compelling retail and experiential destinations at the intersection of life and commerce through innovative, engaging and diversified tenant mixes with iconic, in-demand brands that the community loves and trusts." 

Kevin Tulip, President, Primark US commented: "As Primark continues to expand its footprint throughout the US, we're thrilled to bring 'Primania' to Mall at Prince Georges with the announcement of another lease in the DMV area. After opening our Arundel Mills store last year and seeing DMV shoppers experience our quality affordable fashion, beauty, accessories, and homewares we can't wait to open our doors at the Mall at Prince George's!"

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