A major retail shift is underway in Northeast Philadelphia. A new tenant may soon fill a long-vacant big-box space. City records show a zoning permit was issued over the weekend for the former Amazon Fresh location at Red Lion Plaza. The property sits along Roosevelt Boulevard, a high-traffic retail corridor. Previously, Amazon halted its physical… Read more »
A retail property portfolio in Horsham has been listed for $18.3 million. As a result, multiple sale strategies are now being considered. The offering includes five parcels totaling 7.68 acres at 101 Easton Road. The site sits at the intersection of Route 611 and Blair Mill Road. In addition, it is located about three miles… Read more »
A corner retail property in Northern Liberties has been acquired for $2.7 million. As a result, redevelopment plans are moving forward along the Girard Avenue corridor. The site at 210–230 West Girard Avenue sits at the intersection of Germantown Avenue. Currently, a 10,000-square-foot building leased to Benjamin Moore Paints occupies the property. The acquisition was… Read more »
A Warrington shopping center has been acquired by CenterSquare Investment Management. As a result, the firm continues expanding its retail investment portfolio. The 32,200-square-foot Valley Gate shopping center was purchased for $15.5 million. Previously, the property was owned by Philadelphia-based Metro Development Co. Notably, the transaction equates to roughly $481 per square foot. Therefore, the… Read more »
Firstrust Bank plans to grow assets by one-third as part of a strategic plan through 2030. The bank also plans to open new retail branches for the first time in six years. CEO Tim Abell said Firstrust wants to expand its geographic footprint. Specifically, the bank plans to open one branch in South Jersey and… Read more »
Seattle-based retailer Nordstrom, Inc. will open two Nordstrom Rack locations in Eastern Pennsylvania this fall. The openings will align with the holiday shopping season. In Exton, Nordstrom Rack signed a lease at Main Street at Exton. The 652,776-square-foot open-air lifestyle center sits along Route 100 in Chester County. Wolfson Group owns and manages the property…. Read more »
Spread Bagelry is seeking to raise $15 million to fund a two-year expansion plan. The Philadelphia-born brand aims to double its store footprint by the end of 2028. CEO Tom Selementi said the company plans to open 15 to 18 new locations, including a new site in Philadelphia’s Fairmount neighborhood. Spread is currently majority-owned by… Read more »
Firehouse Subs plans to reenter the Philadelphia market after exiting three years ago. The sandwich chain says it intends to reinvest heavily in the region. Company leaders see potential for 50 to 80 new locations across Greater Philadelphia over the next five to 10 years. The first 10 stores could open within three years, depending… Read more »
In the three months since Mayor Cherelle Parker launched the Market East Advisory Group, the city has received more than 1,000 ideas for revitalizing the struggling commercial corridor. More than 800 submissions were collected through the city’s online portal focused on East Market Street. Advisory group members have also contributed hundreds of additional concepts. The… Read more »
Germantown Friends School has purchased a prominent building on Germantown Avenue for just over $2 million. The acquisition expands the school’s campus to nearly a full city block. The Colonial Revival-style building at 5452–58 Germantown Avenue currently houses a Wells Fargo branch. Both parties confirmed the branch will remain open for now. The property spans… Read more »
