Philadelphia restaurant group Glu Hospitality has shut down, splitting its 16 locations across nine concepts among new owners and leaving vacant spaces across the city. Co-founder Derek Gibbons said the company grew too quickly during the pandemic, straining its finances. Founded in 2019 by Gibbons and Tim Lu, Glu also faced lawsuits, wage theft allegations,… Read more »
Giant is expanding its presence in the Philadelphia region with plans for a new 60,000 SF store at the Shoppes of Sadsbury in Chester County. Located at Route 30 and Route 10 in Parkesburg, this will be Giant’s 13th location in the county. Part of a 360,000 SF retail center developed by Villanova-based Provco Group,… Read more »
Philadelphia’s retail market showed signs of weakening as it approached 2025, with annual net absorption—reflecting the net change in occupied retail space—falling well below historical averages. However, despite this slowdown, the market remains relatively tight, particularly in the suburbs. Retail locations in Center City continue to face challenges due to reduced office occupancy, yet limited… Read more »
The King of Prussia Mall is nearing a deal to bring new retail and entertainment to the former JCPenney building. The 104,065-square-foot space, vacant since JCPenney closed in 2017, is on the mall’s north side. Mall owner Simon Property Group has considered multiple redevelopment options over the past eight years, including a hotel, office buildings,… Read more »
The fully leased Bensalem Shopping Center has been sold to a local private investor for $20.5 million, or $188 per square foot, according to industry sources. An entity affiliated with the Popli family acquired the 109,057-square-foot property from Philadelphia-based Empire Realty Investments Inc. The grocery-anchored center, located at 1903 Street Road, sits on a 9-acre… Read more »
TD Bank plans to close 38 branches across its footprint, including four in the Philadelphia region, amid massive penalties tied to U.S. anti-money laundering issues. The bank did not confirm whether the closures are part of recent cost-cutting efforts but stated it regularly evaluates its branch network to optimize service through a mix of physical… Read more »
A 10,000 SF retail building across from the King of Prussia Mall is on the market for $13.29M ($1,329 per SF), one of the highest price-per-SF rates in the region. Set for completion by early summer, the property at 129 S. Gulph Road is pre-leased to Cava and First Watch on 10-year terms, with a… Read more »
Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 1717 South Broad Street, Philadelphia, Pennsylvania 19148. The Philadelphia property is available for lease. The property contains +/- 1,580 square feet, which could be utilized by retail and office users. Features of… Read more »
Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for Spring House Plaza located at 901 North Bethlehem Pike, Springhouse, Pennsylvania 19477. The Springhouse property is available for lease. The property contains +/- 2,875 square feet, which could be utilized by retail… Read more »
Rumble Boxing is closing its Center City location after six years, marking a change for the dynamic Walnut Street retail corridor. The Rittenhouse Square location at 1520 Walnut St. will close on March 2, with the company citing “unforeseen circumstances” in an email to customers. The decision, which was not made lightly, has yet to… Read more »
