A month after filing for Chapter 11 bankruptcy protection, the U.S. Bankruptcy Court for the District of Delaware approved a pre-packaged restructuring plan for Pennsylvania Real Estate Investment Trust on Monday. The Philadelphia company expects to emerge from bankruptcy in early December, later than its initial expectation to be done with the proceedings by the… Read more »
Gap Inc. is vacating its store at 1510 Walnut St. in Center City and laying off 32 employees as a result of the closure, according to a Worker Adjustment and Retraining Notification filed with the Pennsylvania Department of Labor and Industry. Gap has been a Walnut Street mainstay, having been in space on the street… Read more »
Amazon.com Inc. has signed a lease for one of its new grocery stores in the Northern Liberties neighborhood of Philadelphia, according to sources familiar with the deal. The online retailer has taken 40,000 square feet of 60,000 square feet that is proposed for a new apartment complex at 5th and Spring Garden streets, the sources… Read more »
Local Apparel Retailer Signs Large Industrial Lease Jako Enterprises, a local apparel retailer, leased Ricatto Property Management’s 4-Star warehouse in Philadelphia. The 201,456-square-foot facility at 7601 State Road comprises 16 loading docks, one drive-in bay, 60- by 55-foot column spacing and a 26-foot clear ceiling height. Built in 1968 and renovated in 1977, the building… Read more »
January 10, 2019 WCRE is proud to have exclusively represented THIRD FEDERAL S L ASSOCIATIONd/b/a BB&T Bank in the sale of 2601 Orthodox Street, Philadelphia, Pennsylvania to a private investor, James Mayberry. 2601 Orthodox Street is a +/- 3,456 square foot free standing property situated on +/- 0.05 acres. This well located building is a corner property… Read more »
Is Philadelphia’s proposed one percent tax on new construction a good compromise or a fools bargain? The Philadelphia City Council announced new legislation on April 11, 2018, that includes a new one percent tax on new construction that would raise revenue for the Housing Trust Fund, the city’s dedicated source for developing new affordable housing, preserving existing… Read more »
How to Find the Best Property for Your Business. Here are five key decision factors to consider when searching for your business’s first or next office location. 1. Identify the Needs of Your Employees Think about how many jobs you, your friends, colleagues and family members haven’t applied for due to office location? Completing… Read more »
July 8, 2014 – Marlton, NJ – The Southern New Jersey office market seems to have shifted from recovery mode toward the first steps of real growth, according to the latest analysis by Wolf Commercial Real Estate (WCRE). The firm’s quarterly market report finds a mix of mostly positive trends during the second quarter, making… Read more »
