Beyond these new stores, this year Belk plans to spend some $10 million to remodel 12 existing ones, plus an additional $15 million on such improvements as parking lots, fresh paint and roofing.

Charlotte, N.C.–based Belk currently operates 292 stores across 16 Southern states. Founded in 1888, the company is privately owned today by Sycamore Partners, a New York City–based equity firm.

In the PREIT-owned Valley Mall, Belk will move into a 123,000-square-foot former Bon-Ton space. “Valley Mall’s position in the marketplace, coupled with Belk’s strong performance at other PREIT malls represents a significant opportunity to attract local shoppers — driving traffic and sales and creating value at the property,” said PREIT Chairman and CEO Joseph F. Coradino.

Belk’s new and remodeled stores will offer a range of national brands and private-label fashion apparel, shoes and accessories, along with top-name cosmetics, a wedding registry and a large selection of home merchandise. “We really want to be an asset to the communities in which we operate,” said Belk CEO Lisa Harper. “Our goal and, really, our hope is to build lasting relationships with our customers and associates.”