Wal-Mart reached an agreement to build a 147,550-square-foot retail store at Echelon Mall, occupying the out parcel formerly used by JCPenney. The deal marks the beginning of owner Pennsylvania Real Estate Investment Trust’s (PREIT) effort to redevelop the aging property, which it acquired from Columbia, MD-based Rouse last year as part of a six-mall package in southern New Jersey and southeastern Pennsylvania. PREIT paid almost $550 million for the six properties, all older malls in need of an upgrade. Located in Voorhees, NJ, the 1.14 million-square-foot Echelon Mall includes anchors Strawbridges and Boscov’s. It was built in the 1970’s as a commercial center for the Echelon planned community. Besides the addition of Wal-Mart, PREIT’s overall plan for redeveloping the property includes remerchandising the former Sears store and creating a new court and entrance on the mall’s eastern end, facing the Wal-Mart store.