In the three months since Mayor Cherelle Parker launched the Market East Advisory Group, the city has received more than 1,000 ideas for revitalizing the struggling commercial corridor. More than 800 submissions were collected through the city’s online portal focused on East Market Street. Advisory group members have also contributed hundreds of additional concepts. The… Read more »
Germantown Friends School has purchased a prominent building on Germantown Avenue for just over $2 million. The acquisition expands the school’s campus to nearly a full city block. The Colonial Revival-style building at 5452–58 Germantown Avenue currently houses a Wells Fargo branch. Both parties confirmed the branch will remain open for now. The property spans… Read more »
Iron Hill Brewery & Restaurant’s Center City location will reopen under new management. The move follows the chain’s Chapter 7 bankruptcy filing last year. The restaurant will return to its former space at 1150 Market Street in Philadelphia. The location will reopen with what ownership described as “thoughtful upgrades.” The property is owned by National… Read more »
The Learning Experience is opening 13 new childcare and early education centers across Greater Philadelphia. The expansion will cover approximately 130,000 square feet of commercial space across multiple markets. The company is expected to create hundreds of new jobs throughout the region. Each location can employ up to 30 staff members. Based in Deerfield Beach,… Read more »
Di Bruno Brothers announced that three of its five retail locations will close in the coming weeks. The specialty grocery chain confirmed the closures to Action News. The affected locations include the 9th and Chestnut Street store in Center City Philadelphia. The Ardmore location in Suburban Square will also close. In addition, the Wayne store… Read more »
Altimari Properties has purchased a newly built Wawa site in Hatboro for $7.4 million. The property sits at 412 South York Road near Horsham Road. The convenience store was built in 2023. As a result, this deal marks Altimari Properties’ first ownership of a Wawa location. Previously, the firm had not held any Wawa-branded assets…. Read more »
All Amazon Fresh grocery stores are being closed nationwide. As a result, six locations in the Philadelphia area will be affected. The decision was announced Tuesday morning by Amazon. At the same time, approximately 15,000 layoffs have been reported. Consequently, uncertainty has been created across the company’s retail operations. However, local employee impacts have not… Read more »
Atlas Restaurant Group continues expanding its footprint in the Philadelphia restaurant market. Specifically, the Baltimore-based hospitality group will open its second Philadelphia location near Rittenhouse Square. The new concept, The Ruxton, will operate as a high-end steakhouse inside The Rittenhouse Hotel. Currently, the space is home to Italian restaurant Scarpetta. However, Scarpetta will close after… Read more »
Newer retail properties built since 2010 continue to show strong performance across the Philadelphia region. Occupancy rates increase each quarter, even as overall consumer demand slows. Meanwhile, retailers consistently favor modern, high-quality space. In contrast, older retail buildings struggle to retain tenants when market conditions soften. Although consumer spending has cooled in recent years, demand… Read more »
The Shops at Liberty Place, a 147,000-square-foot retail destination in Center City, has been listed for sale. The property serves as the retail component of the iconic Liberty Place mixed-use complex. Located at 1625 Chestnut Street, the two-level shopping center anchors a high-traffic urban corridor. Chicago-based Metropolis Investment Holdings owns the retail property. The firm… Read more »
