MOORESTOWN - The owner of Moorestown Mall said Wednesday it s completed a deal to bring a medical facility to the site of a former Sears store.
Cooper University Health Care is expected to open a specialty care center at the shopping center in 2023, according to a statement from PREIT.
Cooper will occupy 165,000 square feet at the mall, which is seeking to diversify beyond its traditional retail base. The Sears site has been vacant since the troubled retailer left the mall early last year.
A hotel and some 300 apartments also are in the works at the Route 38 shopping center.
A Cooper representative described the project as still in very early planning stages.
PREIT says newcomers reflect effort to redefine shopping centers
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PREIT says newcomers reflect effort to redefine shopping centers
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Operator
Good day, and welcome to The Macerich Company first-quarter 2021 earnings call. Today s conference is being recorded. At this time, I d like to turn the conference over to Ms. Jean Wood, vice president of investor relations.
Please go ahead.
Vice President of Investor Relations
Thank you for joining us on our first-quarter 2021 earnings call. During the course of this call, we will be making certain statements that may be deemed forward-looking within the meaning of the safe harbor of the Private Securities Litigation Reform Act of 1995, including statements regarding projections, plans or future expectations. Actual results may differ materially due to a variety of risks and uncertainties set forth in today s press release and our SEC filings, including the adverse impact of the novel coronavirus, COVID-19, on the U.S. regional and global economy and the financial condition and results of operations of the company and its tenants.