HANOVER, PA-JCPenney will relocate and expand its anchor store at North Hanover Mall here, says mall owner Pennsylvania Real Estate Investment Trust. The new 83,000-square-foot space, now under construction, will be 30,000 square feet larger than Penney’s current location at the mall, located in suburban Baltimore.
“This shows the confidence and stability in a middle market, market dominant property such as North Hanover Mall - which has a commanding position in the trade area,” Joseph F. Coradino, president of PREIT Services LLC and PREIT-RUBIN, tells GlobeSt.com in an e-mail.
The store is taking a space built for Boscov’s prior to its January 2012 bankruptcy filing. Penney’s current space will be marketed to other retailers, says Coradino, citing its “great location” and “prime visibility.”
In conjunction with the relocation, the mall’s interior will be renovated to include new flooring, updated mall entrances and energy efficient lighting. The renovation and relocation are expected to be completed in anticipation of Penney’s grand re-opening in October 2012. The current Penney store will remain open until the new store is ready for business.
North Hanover Mall consists of 356,000 square feet on one level, anchored by Sears, JCPenney and Dick’s Sporting Goods. It is the only enclosed mall within a 30-mile radius, the developer says. The trade area’s population of 547,505 has an average household income of $66,554.
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