Metro Commercial Reps Crate & Barrel for new Flagship Home Store at Cherry Hill Mall
 

Location will be the first for the retailer in Southern New Jersey –

Scheduled to open in Fall 2007

CHERRY HILL, NEW JERSEY (Camden County) March 19, 2007 – Metro Commercial Real Estate, Inc., the region's premier full-service retail real estate company, announced today that it has negotiated a lease for a 34,000 SF Crate & Barrel at the Cherry Hill Mall in Cherry Hill, NJ.  The two-level free-standing store is scheduled to open this autumn.  This will be Crate & Barrel’s first store in Southern New Jersey, and will serve much of the greater Philadelphia area from this super-regional location. 

Steven H. Gartner, President of Metro Commercial Real Estate, Inc. represented Crate & Barrel in the transaction.  Cherry Hill Mall is owned by Philadelphia-based Pennsylvania Real Estate Investment Trust (“PREIT”). 

Construction has commenced on the new free-standing store which will be situated at the corner of Route 38 and Haddonfield Road.  It is in conjunction with an extensive redevelopment of the historic mall, which originally opened in 1961, and was the first enclosed shopping center in the Eastern United States.  In addition to Crate & Barrel, the 1,263,000 square foot regional mall is adding a two-story, 140,000 SF Nordstrom, The Container Store, and several other specialty retailers and restaurants that will open between now and the mall’s grand re-opening in Spring 2009.   Existing anchors include Macy’s, JC Penney, and Old Navy. 

“The Philadelphia region is currently served by Crate & Barrel’s lone store in King of Prussia, which has been hugely successful.” said Gartner, “Now, with the reinvigoration of Cherry Hill Mall, there will be a suitable project for their upscale shopper.  They are one of the most sought-after retailers in the country because of what they bring to a project, yet they don’t blanket a region with too many stores.”

Offering innovative, high-quality design, Crate & Barrel is one of the nation’s most successful and influential houseware and furniture retailers. Founded in 1962, Crate & Barrel has grown to over 145 stores and over 7,000 associates throughout the United States.

Media Contact:
Metro Commercial Real Estate
Jamie Joffe
610 246 2606
jjoffe@metrocommercial.com

Metro Commercial Real Estate, Inc. (www.MetroCommercial.com) is one of the area’s leading brokerage firms focusing on the leasing, sale and expansion of retail properties throughout the region.  Founded in 1987, Metro Commercial specializes in retail tenant representation, shopping center leasing, property management, investment property sales, construction services and enclosed malls.  With three offices throughout Pennsylvania and New Jersey, Metro Commercial currently serves as the exclusive leasing agent for more than 240 retail properties, totaling in excess of 22 million square feet.  Metro Commercial has repeatedly been recognized as one of the “Best Places to Work” by the Philadelphia Business Journal, and is committed to client satisfaction and superior customer service.  Metro Commercial is proud to be celebrating its 20-year Anniversary in 2007.