MCB Real Estate has started work on a roughly $100 million redevelopment of what had been known for decades as the Drexeline Shopping Center in Drexel Hill. Renamed the Drexeline Town Center, MCB of Baltimore plans to transform the property at 5100 State Road from a dated — portions were built in the 1950s —… Read more »
The iconic Melrose Diner, the stainless-steel-and-neon-trimmed touchstone for generations of Philadelphians, may be getting a date with the wrecking ball, according to a city demolition permit. Melrose owner Michael Petrogiannis also obtained a demolition permit for the nearby Broad Street Diner, which had been long closed before he bought and renovated it in 2011, according… Read more »
At Home, a Plano, Texas, retail chain that sells furniture and home décor, has signed an 85,985-square-foot lease at the Promenade at Granite Run. With the addition of At Home and some smaller pending deals, the 877,294 square feet of retail space at the property is 92% occupied, according to BET Investments Inc., which owns… Read more »
Barcade is taking to Center City to open its second Philadelphia outpost, which the New York-based company aims to debut by early 2023. The hybrid bar-and-arcade concept is headed to the historic three-story Hale Building at 1326 Chestnut St., which dates back to the late 19th century and was built by esteemed architect W.G. Hale,… Read more »
Eagle Plaza and Upland Square, two shopping centers at opposite ends of the Philadelphia region, have sold for a combined $114.7 million, continuing a trend of investors gravitating toward grocery-anchored retail properties. A Singaporean real estate firm invests in grocery-anchored retail, paid $85.7 million for Upland Square, a 400,674-square-foot center at 180 Upland Square Drive… Read more »
Giant’s expansion in Philadelphia will continue in June with the opening of a new grocery store at the busy corner of Broad and Spring Garden streets. The 50,700-square-foot market will open its doors on June 24 at 501 N. Broad St., the Carlisle-based company announced on Friday. The supermarket is an anchor tenant for developer Alterra… Read more »
Reading Terminal Market is eyeing a fall 2022 completion for a long-awaited “festival street” that will leverage outdoor space in front of one of Philadelphia’s most popular attractions. Dubbed by Reading Terminal and city officials as a “transformation project,” the overhaul of the 1100 Filbert Street will add outdoor dining space, pop-up retail kiosks and… Read more »
Bart Blatstein’s Tower Investments has paid $34 million to repurchase Riverview Plaza, a 236,217-square-foot retail center along the Delaware River in Philadelphia that the company developed in the late 1980s and later sold to Cedar Realty Trust Inc. in 2003. The property is 50% occupied. “I bought it back for less than I sold it… Read more »
Insomnia Cookies is taking over a three-story, marquee space at Broad and Chestnut streets that previously housed a Walgreens “superstore” for several years. The roughly 26,000-square-foot space at One South Broad St. will serve as the new headquarters for Insomnia Cookies, which was based in Newtown Square for the last five years, The Center City… Read more »
Puttshack opened its first two U.S. locations in Atlanta and Chicago in 2021, joining its four locations in London. New locations in the United States will open this summer in Boston and Miami, followed by Denver, Houston, Pittsburgh, Scottsdale, St. Louis, Dallas, Nashville and its second Atlanta location in 2023. Its Center City location is set to include four tech-driven mini golf courses powered… Read more »
