Legoland features a massive interactive display of the city of Philadelphia, which is composed of a staggering 1,5 million Lego bricks.Families in the Greater Philadelphia region now have another fantastic option for their entertainment dollars - and they can get a little shopping out of the way at the same time to boot. Legoland Discovery Center Philadelphia has opened at the Plymouth Meeting Mall, and it’s just the 17th such attraction in the world. Mall owner PREIT has been working towards transforming the property into a lifestyle destination, and the firm has taken another gigantic leap towards making that happen with its latest tenant.
"The mall environment a decade ago was vastly different from that of today, and tenants like LEGOLAND Discovery Center further demonstrate how the mall industry continues to innovate and evolve," said Joseph F. Coradino, CEO of PREIT.
For PREIT, the changing mall landscape inspired the firm to reimagine what the mall experience should be. That has meant welcoming in a slew of non-traditional tenants, and also ramping up the dining and entertainment options. Across its portfolio, roughly 17 percent of its retail space houses tenants that fall into the dining and entertainment categories. At Plymouth Meeting Mall, that number is a whopping 45 percent.
"Our strategy is laser focused on diversifying our tenant base and enhancing the experience at our properties, introducing a variety of offerings that are new to our customers. By creating differentiated shopping environments for visitors that mirror their changing behaviors, PREIT is executing on its long-term strategy to add value to its shopping centers," Coradino continued.
As for the Legoland attraction itself, it features a massive interactive display of the city of Philadelphia, which is composed of a staggering 1,5 million Lego bricks. Additional features include a 4D cinema, a Lego-themed ride, themed build and play areas, as well as building stations.
"LEGOLAND Discovery Center is an incredibly unique addition that enables us to customize our offerings further and augment the shopper experience at Plymouth Meeting Mall. To be one of the very select locations for this attraction speaks volumes about the attractiveness of the trade area and the property's location, and we anticipate continued growth with LEGOLAND Discovery Center as a new anchor tenant," added Coradino.
Other innovative tenants at Plymouth Meeting Mall include Whole Foods Market and Dave & Buster’s. PREIT has provided a fantastic example of how to be proactive in the face of a changing environment, and its portfolio and investors should reap the rewards in the coming years.