A grocery-anchored shopping center in Bucks County, Feasterville Plaza, has sold for $18.5 million, 8% less than its 2011 sale price, according to property records. The 110,000-square-foot center at 1045 Bustleton Pike in Feasterville was purchased by an entity owned by Nandish Patel, founder of Phoenix Nexus Enterprises. The previous owner, FTP Feasterville Plaza LP,… Read more »
Giant is set to open a new grocery store at 701 Cathedral Road in the Andorra Shopping Center, taking over the former Acme location that closed earlier this year. Construction on the new space is slated to begin in 2025, though an opening date has yet to be announced. The grocery chain is leasing the… Read more »
Pharmacy chain Rite Aid has exited Chapter 11 with a streamlined footprint of about 1,300 stores, down from 2,100 before its bankruptcy filing nearly a year ago. The Philadelphia-based retailer announced it has completed its restructuring, emerging with a “focused portfolio,” a “more efficient operating model,” and “significantly less debt.” The company has eliminated approximately… Read more »
The former Lord & Taylor store at King of Prussia Mall, set to become a Netflix retail, dining, and entertainment venue, is now for sale. The 120,000-square-foot building at 180 N. Gulph Road, built in 1995 on over 2 acres, was listed on August 30 without an asking price. The property, last assessed at $7.37… Read more »
Discount retailer Big Lots plans to close up to 315 stores nationwide, including four in the Philadelphia area, as the chain struggles with financial difficulties. The Columbus, Ohio-based company, which sells low-cost groceries, home furnishings, and toys, recently increased its projected closures from 150 stores in a filing with the U.S. Securities & Exchange Commission…. Read more »
Blink Fitness will close its two Philadelphia gyms—the chain’s only locations in Pennsylvania—at the end of the month. The gyms, located at 5597 Tulip St. in Wissinoming and 330 W. Oregon Ave. in South Philadelphia, are set to shut down on August 30, according to notices on the company’s website. Blink Fitness filed for bankruptcy… Read more »
A popular chain of indoor trampoline and entertainment parks is set to expand with two new locations in Greater Philadelphia next year. Franchisees Kinjal and Purvish Patel plan to open Sky Zone locations in Exton and Langhorne in the fourth quarter of 2025. The husband-and-wife team is currently seeking leases for these upcoming venues. Trampoline… Read more »
Parx Casino is closing its 30-year-old South Philadelphia betting parlor, following approval earlier this year to relocate its operations to a nearby Chickie’s and Pete’s, a move that has sparked controversy. The Bensalem-based gaming destination, owned by Greenwood Racing Inc., will shutter its South Philadelphia Race & Sportsbook at the end of the business day… Read more »
LL Flooring has initiated voluntary Chapter 11 reorganization proceedings in the U.S. Bankruptcy Court for the District of Delaware as part of its strategy to sell the business. The company is actively negotiating with several potential buyers and anticipates seeking the court’s approval for the sale within the early stages of the Chapter 11 process…. Read more »
Amazon is on the verge of doubling the count of Amazon Fresh grocery stores in the Philadelphia region after facing significant delays in launching new outlets. The e-commerce leader is progressing with the opening of an Amazon Fresh store in Bensalem, as stated by a company representative to the Business Journal. Job listings for the… Read more »
