KING OF PRUSSIA, PA-Much is still up in the air regarding the tenant mix and even the architect for the 140,000-square-foot expansion that will link the Court and Plaza of King of Prussia here, announced earlier this week. But one thing is certain, says owner Simon Property Group: there are more than enough retailers to fill what already is the largest mall complex on the East Coast.
“When we acquired virtually a 100% interest in the property two months ago, we took a fresh look at what we could do to enhance the asset,” Mikael Thygesen, chief marketing officer of Simon Property Group, tells GlobeSt.com. “It’s a wonderful asset, with strong demand, and adding GLA is always in the back of our minds.”
When complete, the expansion will create a 2.6-million-square foot colossus that fully connects the five-anchor Plaza and two-anchor Court projects. The expansion will also add some 40 retailers, several restaurants and an upscale dining pavilion and customer lounge to a complex that already houses nearly 400 retailers.
The complex is the largest mall on the East Coast and the largest in terms of leasable retail space in the United States. (The Mall of America, while a larger facility, contains an amusement park.) Housing some 400 retailers, King of Prussia is anchored by Bloomingdale's, JCPenney, Lord & Taylor, Macy's, Neiman Marcus, Nordstrom, and Sears.
What type of retailers—upscale or mid-price—has yet to be determined, Thygesen says. Even the architect has yet to be chosen. “A lot of retailers have expressed interest,” he says. “We hope to bring unique concepts.”
The expansion will be close to, but not exactly on the current covered pedestrian bridge between the two malls, close to a current parking deck. An enclosed connector “enhances the customer experience when you can walk and experience the Court and the Plaza,” he adds.
Already underway is a major redevelopment of the center that will convert the former Strawbridge's building into 10 new retailers in a two-story, 100,00-square-foot space for a holiday 2012 debut. “Just as we’re doing with the current expansion, it would not affect operations,” Thygesen says.
The developer is working with Upper Merion Township officials regarding the design and parking ratios, he says. “We’re still pretty early in, but the Township likes the concept,” Thygesen says. “They want to work with us on this.”
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