PREIT successfully emerges from bankruptcy protection for the second time since 2020 and undergoes a transition to private ownership. The Philadelphia-based company confronted over $1 billion in looming debt when it filed for bankruptcy in December. Nonetheless, through a pre-packaged reorganization plan, the debt has been eliminated, accompanied by the establishment of a new ownership… Read more »
Next month, six Family Dollar stores in Philadelphia will shutter their doors. This local closure follows the recent announcement by Dollar Tree, the parent company of Family Dollar, revealing plans to close nearly 1,000 stores, with approximately 600 Family Dollar locations slated for closure in the first half of this year. Michael Atcovitz, vice president… Read more »
Netflix, the renowned streaming platform, is embarking on a novel endeavor to revitalize a vacant Lord & Taylor store, marking one of its initial ventures into physical entertainment venues. This initiative reflects a growing trend of repurposing obsolete department store mall locations across the nation. Headquartered in Los Gatos, California, Netflix intends to convert the… Read more »
Netflix has set its sights on Philadelphia as one of the inaugural sites for its innovative retail, dining, and live entertainment venture. The entertainment giant intends to establish a Netflix House within the former Lord & Taylor space at the prestigious King of Prussia Mall. This brick-and-mortar concept is designed to fully immerse visitors in… Read more »
Another Wawa store in Philadelphia is shutting its doors. A spokesperson for the Delaware County convenience store and gas station chain confirmed to the Business Journal that Wawa did not receive a lease renewal offer for its location at 2000 Hamilton St., near Fairmount and the Philadelphia Museum of Art. The company declined to provide… Read more »
Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for Greets Diner, 14 North Black Horse Pike Williamstown, NJ 08094. The Williamstown property is available for lease. The property holds +/- 9,981 sqaure feet that could be utilized by industrial users. Features… Read more »
Insomnia Cookies is set to unveil its largest flagship store in Center City this weekend, captivating visitors with a Willy Wonka-inspired experience at Broad and Chestnut streets. The store, located on the first floor of the new three-story headquarters, offers a range of baked delights, customizable toppings, and a vibrant ambiance. Noteworthy features include a… Read more »
Wolf Commercial Real Estate has been appointed as the leasing agent to market 1719 Chestnut Street, Philadelphia, Pennsylvania. The property has +/- 3,300 sqaure feet available for lease. 1719 Chestnut Street is ideal for retail or office users. The property has an open floor layout with three private offices, a conference room, and elevator access…. Read more »
Nike Inc. is set to open a Michael Jordan-branded store, Jordan World of Flight, at 1617 Walnut St. in Rittenhouse Square, Philadelphia. Spanning 7,000 square feet, this retail concept debuted in Milan in December 2022, aiming to be the future destination for celebrating the legacy and future of basketball culture. *Article courtesy Philadelphia Business Journal… Read more »
The building housing Bonner’s Irish Pub, a beloved landmark in the Center City West area for over 30 years, is now on the market. Located at 116, 118, and 120 S. 23rd St. and 2306 Sansom St., this 124-year-old structure spans 6,185 square feet across two and three stories in different sections, according to owner… Read more »
