Market Overview

Burlington Stores to Join The Shoppes at Parma

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PREP Property Group is expanding its retailer offerings at The Shoppes
at Parma with the announcement of a new Burlington opening in spring
2019. The national off-price retailer, offering brand name merchandise
at a great value for the entire family and home, has signed a lease for
a 45,000-square-foot store in the former Gordman's space adjacent to
Dick's Sporting Goods and Walmart Super Center on W. Ridgewood Drive.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180813005353/en/

"The Shoppes at Parma is pleased to expand its apparel and home décor
options with this nationally recognized retailer," said Michelle Devlin,
General Manager of The Shoppes at Parma. "Burlington's fresh new store
design and assortment of brand name clothing, footwear, accessories and
more at up to 65% off retailers' prices will be a great addition to the
mixed-use redevelopment."

Employment Opportunities

This new Burlington store will hire for approximately 50-100 new jobs.
This fall, interested candidates can visit Burlington's careers website
www.BurlingtonStores.jobs
– for more information about joining their team.

About Burlington Stores, Inc.

Burlington is a national off-price retailer offering style for less at
up to 65 percent off other retailers' prices every day. Departments
include ladies' dresses, suits, sportswear, juniors, accessories,
menswear, family footwear and children's clothing. It also includes an
assortment of furniture and accessories for baby at Baby Depot, home
décor and gifts, along with the largest selection of coats in the nation
for the entire family. Burlington has more than 640 stores in 45 States
and Puerto Rico.

About The Shoppes at Parma

The
Shoppes at Parma
is nearing completion of an exciting transformation
through its multi-phase redevelopment. The 750,000+ square-foot open air
center is anchored by JCPenney, Dick's Sporting Goods, Walmart
Supercenter and Marc's grocery store and features specialty retailers,
services and a wide variety of dining options. The Shoppes at Parma is
located just eight miles southwest of downtown Cleveland at the
intersection of Ridge Road and West Ridgewood Drive. For more
information, visit www.shoppesatParmaOH.com.

About PREP Property Group (PREP)

PREP Property Group is a vertically-integrated real estate company built
on the foundation of key divisions of Phillips Edison & Company. PREP is
focused on repositioning and remerchandising lifestyle centers, power
centers and enclosed malls that are undermanaged, capital-starved,
poorly merchandised and/or distressed through its Strategic Investment
division. The company also acquires well-located, triple-net lease
retail properties from non-institutional sellers and creates value
through lease term restructure or extension.

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