A prominent South Philadelphia shopping center with a strong tenant lineup has hit the market. Goldenberg Group, a Blue Bell-based developer, has listed the fully occupied Columbus Commons at 2106 S. Christopher Columbus Blvd. for sale. The retail center, developed nearly 20 years ago, spans 643,810 square feet in total. However, the listing excludes Ikea… Read more »
Macy’s plans to close its 435,000-square-foot store in the historic Wanamaker building by the end of March, marking a significant setback for East Market’s struggling retail scene. The announcement, made Thursday, is part of the retailer’s larger strategy to shut down 150 stores nationwide by 2026, including 65 closures this year. Among the first wave… Read more »
The Kibitz Room, a 23-year-old Cherry Hill Jewish delicatessen, is expanding to King of Prussia. The deli has signed a 20-year lease for 128 Town Center Road, aiming for a March opening, according to owner Brandon Parish. The space, formerly home to Michael’s Deli and most recently KOP Grill & Tavern, will offer a local… Read more »
Seven new stores are set to open at Ardmore’s Suburban Square as the retail center expands with a mixed-use development. Kimco Realty, based in Jericho, NY, has partnered with the Bozzuto Group of Greenbelt, MD, to build Coulter Place, a $100 million, five-story project featuring 131 apartments and 20,000 square feet of retail space. Slated… Read more »
The Philadelphia region has experienced a surge in fried chicken restaurants, with new openings and leases multiplying over the past year. Local and national brands are seizing the opportunity, securing locations across the city and suburbs to meet rising demand. In 2024, fast-casual and quick-service chicken concepts signed at least 22 leases—double the total from… Read more »
Wawa is closing another Philadelphia location, marking its third closure in the city this year. The store, located at 33 S. 16th St. and spanning 3,000 square feet, will shut down on Monday. In an emailed statement to the Business Journal, Wawa spokesperson Lori Bruce explained that the store’s smaller size made it difficult to… Read more »
The Philadelphia metro area continues to outpace the national average in inflation, with October 2024 figures showing a 3.4% annual increase compared to the 2.6% national rate. This persistent gap reflects ongoing regional economic pressures. While inflation has eased from early 2024 peaks, when Philadelphia exceeded 4%, the local rate has consistently averaged 0.8 percentage… Read more »
Trader Joe’s is set to open its second Chester County store in Berwyn at 550 Lancaster Ave., the company announced on its website. While no opening date has been provided, the new location will occupy a 14,000-square-foot corner space in the Berwyn Shopping Center, previously home to a CVS Pharmacy that closed in September 2023…. Read more »
Giant Co. is closing its Heirloom Market grocery store in Center City’s Fashion District on Dec. 28, three years after its opening, according to a state filing. The 32,000-square-foot store at 801 Market St., which employs 61 people, was the largest of Giant’s four Heirloom locations in Philadelphia. Opened in December 2021 in the historic… Read more »
A U.S. bankruptcy judge has approved TGI Fridays’ plan to exit 78 restaurant leases and its Dallas headquarters office lease, saving the chain about $1.4 million per month. This move follows the closure of several locations and TGI Fridays’ Chapter 11 filing due to financial struggles linked to the pandemic and its capital structure. The… Read more »
