HomeSense, Sierra Trading Post Coming To Moorestown Mall

MOORESTOWN, NJ — The Pennsylvania Real Estate Investment Trust (PREIT) announced which stores will take over the space formerly occupied by Macy’s at the Moorestown Mall on Thursday.
HomeSense and Sierra Trading Post will be the Moorestown Mall’s newest retailers, PREIT announced. Projected opening dates for the two stores have not been announced.

HomeSense is a Canadian-based chain of off-price home furniture stores. It has locations in Canada, America and Europe. It opened its first American store in August in Massachusetts, and later announced plans to open two stores in New Jersey. They opened in East Hanover and Ocean Township. The Moorestown store will be its third location.

Sierra Trading Post’s products include outdoor recreation, fitness and adventure gear, along with apparel, clothes, footwear and home decor. It has stores in Wyoming, Nevada, Idaho, Colorado, Utah, Minnesota, Connecticut and Washington state.

Both chains are owned by TJX, which also owns TJ Maxx and Marshall’s. For more on HomeSense, visit homesense.com. For more on Sierra Trading Post, visit sierratradingpost.com.

The two stores were among a number of new store openings announced by PREIT on Thursday. It said that when 2017 began, it had 11 vacant anchor stores nationwide. Five of them have since been replaced, and PREIT has executed leases for four additional replacements, according to the company. This leaves two vacancies, both with leases pending execution.

In addition to replacing anchors rapidly, PREIT has incorporated a diverse mix of tenants in both anchor and in-line space in anticipation of the continued evolution of the use of mall space. Last year, PREIT executed new leases for over 75 percent more space than the previous year.

“Having executed on our anchor transformation strategy ahead of the sector, we are pleased by the lack of new department store closures in our portfolio and believe our ability to quickly replace those that did close is evidence of the strength of our new portfolio,” PREIT CEO Joseph F. Coradino said. “2017 was another transformative year for PREIT and we will continue to proactively redefine the mall experience to fuel traffic, grow sales and drive value for our shareholders.”

The new stores will join the Moorestown Mall's already loaded roster of stores, which includes Lord & Taylor, Regal Stadium12 & RPX, H&M, and Rizzieri Salon & Spa, as well as an array of dining options.

Last year, Macy's announced it was closing 68 stores nationwide, including the store at the Moorestown Mall. Since 2012, the number of Macy’s stores on PREIT properties has been reduced from 25 to 14.

Patch file photo