KING OF PRUSSIA, PA-DSW Inc. has signed a lease for a new 19,869-sf unit in King of Prussia Mall. Its space is in the Pavilion portion of the Court at King of Prussia.
Together, the Pavilion, Court and Plaza at the center on Mall Boulevard here, aggregate 2.8 million sf and lay claim to representing the largest mall on the East Coast. With such anchors as Nordstrom, Neiman Marcus, Bloomingdale's and Lord & Taylor among others, the center, which is owned by locally based Kravco Simon Co., is also justifiably described as upscale.
Glenn Marvin and Dan Brickner of Conshohocken-based Metro Commercial Real Estate represented DSW in the lease negotiations with Kravco Simon. The value and terms are undisclosed. According to published reports, tenants in King of Prussia Mall average $512 sales per sf, and some of the luxury retailers' sales per sf reach well above four digits.
DSW, which stands for designer shoe warehouse, is a subsidiary of Columbus, OH-based Retail Ventures Inc., which also operates Value City Department Stores and Filene's Basement. DSW currently operates 232 units in 33 states. Metro Commercial, a specialist in all aspects of the retail sector, also has offices in Mount Laurel and Fort Lee, NJ.
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