Following the resurgence of leasing activities and pedestrian flow in Center City after the Covid-19 pandemic’s impact in 2022, this positive trend continued to propel retailers in Philadelphia throughout the past year. As of September, retail occupancy in the Center City District stood at 84.5%, steadily regaining ground toward the pre-pandemic 89% mark observed in… Read more »
The renowned Canadian coffee chain, Tim Hortons, has initiated its expansion into Greater Philadelphia, debuting a new location in South Jersey and securing a multi-unit development deal for Delaware as part of its quest for additional franchisees to drive regional growth. Their fifth New Jersey outlet, situated off Route 130 in Cinnaminson, opened on Nov…. Read more »
PJW Restaurant Group has ambitious plans to expand its presence in Greater Philadelphia with the launch of at least two new P.J. Whelihan’s Pub and Restaurants in 2024, aligning with its annual growth targets. Jim Fris, CEO of the Westmont, New Jersey-based restaurant group, announced the forthcoming openings of P.J. Whelihan’s locations in Delaware County… Read more »
Facing a significant debt load of over $1 billion, PREIT has made the decision to file for Chapter 11 bankruptcy protection for the second time in just a little over three years. The regional mall owner took this voluntary step by filing in the U.S. Bankruptcy Court for the District of Delaware, having already established… Read more »
Philadelphia-headquartered Rite Aid persists in its endeavor to sell off store leases and properties amid Chapter 11 bankruptcy proceedings, expanding its offerings to include seven additional locations in the Philadelphia area, encompassing two stores situated on Broad Street. As of the latest update released on Tuesday, Rite Aid currently lists seven retail leases and six… Read more »
A chicken wing-focused restaurant chain from North Carolina has selected Philadelphia as a key market for its expansion efforts, marking its return to growth plans after nearly four years of pandemic-induced delays in the region. East Coast Wings + Grill is targeting the opening of at least five new locations in and around Philadelphia within… Read more »
Wegmans Food Markets has announced an anticipated early 2024 launch for its second store in Bucks County, introducing enhancements to its standard offerings alongside the introduction of a “sushi pod.” Scheduled for a March 20 opening, the grocery chain will unveil its Yardley store situated within the Prickett Preserve shopping center, currently under development at… Read more »
The former Bankroll space in Rittenhouse Square, previously a $25 million sports and entertainment venue and restaurant that closed within a few months earlier this year, is now available for lease. Located along Chestnut Street, the property has been listed by Philadelphia-based MSC in an effort to fill this vacant area. Jacob Cooper, partner and… Read more »
In less than five years since inaugurating its initial retail branch in the Philadelphia region, Chase Bank has achieved its target of establishing 50 locations here by 2024. At the recent “Banking on Philadelphia” event at City Winery, Jennifer Roberts, CEO of Chase Consumer Banking, announced the anticipation of doubling this number within the next… Read more »
Fast-Casual Chicken Wing Chain Plans Expansion with 20 New Locations in Greater Philadelphia. Wing Zone Hot Chicken and Wings, is a Las Vegas-based eatery, that has set ambitious growth goals for Greater Philadelphia. They are actively seeking franchisees interested in multi-unit development agreements to open a minimum of 20 new locations in and around the… Read more »
