PREIT Announces Relocation of Award winning Rizzieri Salon and Spa to Moorestown Mall's highly anticipated lineup of exclusive dining, entertainment, and shopping venues

PHILADELPHIA, Sept. 5, 2013 /PRNewswire/ -- Pennsylvania Real Estate Investment Trust (PREIT /NYSE: PEI) announces the addition of the globally and locally award-winning Rizzieri Salon and Spa to Moorestown Mall.  As part of PREIT's repositioning effort for the mall, owners Frank  and Sal Rizzieri will move the salon from its current location in Marlton, NJ to Moorestown Mall in a newly designed 12,000 square foot space late next year.

(Logo: http://photos.prnewswire.com/prnh/20130905/MM75091LOGO)

Rizzieri Salon and Spa, which has been named one of the nation's 100 fastest growing by Salon Today, will offer a number of services in this new flagship location.  Rizzieri's skilled stylists will use innovative hair care, coloring, styling, nail care and makeup application tools and techniques in the salon, while the spa will offer an extensive menu of relaxing massages, body treatments, and facials.

"Rizzieri Salon and Spa's high standards for quality and service will be an excellent addition to the new Moorestown Mall and we are thrilled to have them on board.  Shoppers are going to be able to enjoy a customer experience unlike any in the region when they visit Moorestown Mall, including nationally renowned, artisan-owned restaurants, a premium movie theater, a luxurious award-winning spa and salon and specialty stores that are unique to the mall environment," said Joseph F. Coradino, CEO of PREIT.  "We believe that, when its transformation is complete, Moorestown Mall will serve as a model for creating a truly differentiated suburban consumer experience."

At its time of opening, Rizzieri Salon and Spa will join three restaurants already slated to open since the procurement of four liquor licenses in 2011, two of which bear the mark of James Beard award-winning restaurateurs.  The addition of Marc Vetri's Osteria and Jose Garces' Distrito along with the first Firebirds Wood Fired Grill in the southern New Jersey market, will set Moorestown Mall apart as one of the few retail venues that offers urban experiences in the comfort and convenience of a suburban setting. The mall will also feature a new Corner Bakery Café and the region's only Regal Premium Experience Theater featuring all digital projection, surround sound, and large format screens giving moviegoers an immersive three dimensional movie going experience.

"We are delighted to be a part of the rebirth of Moorestown Mall," said Frank Rizzieri.  "We intend to make this a seamless transition for our Marlton guests with no interruption in service.  We will continue to deliver high-end, innovative services, by highly trained, experienced professionals in a new and luxurious salon and spa, while preserving the Rizzieri family commitment to customer service." 

About Pennsylvania Real Estate Investment Trust
Pennsylvania Real Estate Investment Trust, founded in 1960 and one of the first equity REITs in the U.S., has a primary investment focus on retail shopping malls. Currently, the Company's portfolio of 46 properties comprises 36 shopping malls, seven community and power centers, and three development properties. The Company's properties are located in 13 states in the eastern half of the United States, primarily in the Mid-Atlantic region. The operating retail properties have approximately 31.0 million total square feet of space. PREIT, headquartered in Philadelphia, Pennsylvania, is publicly traded on the NYSE under the symbol PEI.  Information about the Company can be found at www.preit.com or on Twitter or LinkedIn.

About Rizzieri Salons and Spa:
In addition to running salons and spas in Marlton, Washington Township and Voorhees, Frank Rizzieri is a world-renowned editorial hair stylist, co- founder and creative director of a hair tool company as well as a spokesperson and creative director for a national hair extension company. Among Rizzieri's numerous awards, its most treasured and prestigious distinction came from the UCLA School of Management.  The "Global Salon Business Award for Excellence in Business," recognized Rizzieri as one of the best run salon businesses in the world.  For more information visit www.rizzieri.com or on Facebook or Twitter.

CONTACTS:
AT THE COMPANY
Heather Crowell
VP, Corporate Communications and Investor Relations
(215) 454-1241
[email protected]

FOR RIZZIERI
Liz Thomas
Thomas Boyd Communications
(856) 642-6226
[email protected]

SOURCE PREIT

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