Despite concerns of a retail apocalypse over the past decade from the threat of online shopping, which was heightened during the pandemic, recent leasing performance on the part of Philadelphia retailers tells another story. Retail space listed on the market in the Philadelphia region is now at 18.7 million square feet — 20% below the… Read more »
PREIT said Thursday it’s still looking to sell Exton Square Mall, and now Plymouth Meeting Mall, the next move in its saga to generate cash with a pivotal loan deadline looming. The Business Journal reported Exton Square Mall was under agreement last spring to sell to Brandywine Realty Trust for $28.8 million, but PREIT revealed the deal… 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 6741 Essington Ave in Philadelphia, Pennsylvania. The Philly property is available for sale, priced at $899,000. The property is +/- 4,182 square-feet and is zoned I-2. Features of 6741 Essington Ave in… Read more »
David’s Bridal is laying off more than 9,000 workers, including many in the Philadelphia region, and the company may be sold. The Conshohocken-based wedding gown chain said in a notice to the Pennsylvania Department of Labor and Industry that it would be laying off 9,236 people across the United States. A specific number for Pennsylvania… Read more »
The Sporting Club at The Bellevue has set a planned reopening date after being closed for most of the last three years due to pandemic-related shutdowns and renovations. The 110,000-square-foot Center City fitness center plans to reopen in July, according to Fran Cassidy, the general manager. Cassidy said the high-end club aims to starting giving tours… Read more »
Target Corp. is closing its store at 12th and Chestnut streets in Center City nearly seven years after opening the location. The company said it will shutter the 19,000-square-foot Washington Square store due to several years of declining performance. The store, one of Target’s small-format locations, is scheduled to close May 13. Target (NYSE: TGT)… Read more »
Rita’s Italian Ice & Frozen Custard plans to open 40 new locations and add a new product line this year. The company, headquartered in Trevose, will expand into Missouri and add to its presence in Midwest states such as Illinois, Texas and Oklahoma. Rita’s CEO Linda Chadwick said that although the brand is primarily regional, it has… Read more »
A popular Northern Liberties fried chicken eatery has launched its first franchising efforts after almost six years in operation, with plans to open up to a half-dozen new locations. Love & Honey Fried Chicken, located at 1100 N. Front St., announced the news via social media on Monday. The brand has already received interest from dozens… Read more »
Wells Fargo & Co. has closed three Philadelphia-area bank branches and filed to close three more. According to filings this month with the Office of the Comptroller of the Currency, San Francisco-based Wells Fargo (NYSE: WFC), formally closed locations at 6611 Castor Ave. in the Oxford Circle section of Northeast Philadelphia, 8527 Germantown Ave. in… Read more »
The 100-year-old Famous 4th Street Delicatessen in Queen Village is officially being listed for sale with an asking price of $5.95 million. The listing for the Jewish deli on Feb 15. Although MPN does not include an asking price on its listing, a cross-posting on online commercial real estate marketplace Crexi shows the three-story property… Read more »
