Posts Categorized: Philly retail space

Another indoor golf venue is planning to open on Fishtown, Olde Kensington border

A Dallas-based leisure and entertainment business operator is bringing an expansive golf concept to the rapidly developing area along the border of Philadelphia’s Fishtown and Olde Kensington neighborhoods.  Drive Shack Inc. (NYSE: DS), whose portfolio consists of entertainment concepts American Golf, Drive Shack and Puttery, is planning a 20,000-square-foot venue at 1400 N. Howard St.,… Read more »

Montgomery Mall sells for $55M in a foreclosure sale

Kohan Retail Investment Group of Great Neck, New York, has purchased Montgomery Mall in a foreclosure sale for $55 million.  The sale price is 95% of the property’s appraised value as of August of $57.5 million. In 2014, the mall had been appraised at $195 million, or $176 a square foot. A Montgomery County Court of Common… Read more »

Red Lion Plaza in Northeast Philadelphia sells for $56M to New York investor

Red Lion Plaza, a roughly 240,000-square-foot shopping center at Red Lion Road and Roosevelt Boulevard in Northeast Philadelphia, has been sold for $56.45 million.  Finmarc Management Inc. and KPR sold the center. The buyer was affiliated with the Propp family from New York. The center at 9950 Roosevelt Blvd. was 97% occupied at the time… Read more »

Sugar Factory chain to open Philadelphia restaurant with ‘insane milkshakes,’ celebrity-designed cocktails

Las Vegas restaurant chain Sugar Factory American Brasserie is taking over the former Porta space in Center City.  Sugar Factory is known for over-the-top offerings like sliders with rainbow buns; “insane milkshakes” served in chocolate-covered mugs and decked out with sweets like candy necklaces, candy bars and cookies; and a 24-scoop King Kong Sundae topped with marshmallows,… Read more »

Chase sees opportunity in Philadelphia market, will exceed its 50-branch target

JPMorgan Chase & Co. said it will exceed the promised 50 retail branches coming to the region. The nation’s largest bank entered the Philadelphia retail banking world in September 2018 when CEO Jamie Dimon visited Philadelphia to announce plans to open to 50 locations within five years. Three years later, Chase (NYSE: JPM) has already opened 41… Read more »

Amazon is hiring 4,800 people across the Philadelphia region

Amazon plans to hire thousands of workers in the Philadelphia region as the retail giant accelerates its rapid expansion across the area. The company announced Tuesday that it was seeking nearly 4,800 employees in the city and surrounding counties, part of a nationwide plan of hiring 125,000 people. The warehouse jobs come with an average starting… Read more »