South Jersey discount retailer Forman Mills has warned that it will likely file for Chapter 11 bankruptcy protection if it cannot find a buyer, causing the company to close stores and lay off hundreds of employees over the next two months. The Pennsauken-based retailer is currently trying to finalize a sale “as a going concern,”… Read more »
A year after buying the Quartermaster Plaza shopping center in South Philadelphia, a joint venture of New York firms DRA Advisors and KRP Centers are looking to sell the property in a deal that could fetch more than $100 million. DRA Advisors and KRP Centers bought the 456,208-square-foot shopping center last year as part of a 33-property… Read more »
D Bank is opening its first new branch in Philadelphia in four years with at least two more in the planning stage, as the bank is pivoting toward organic growth in the wake of the recent termination of its planned $13.4 billion mergerwith First Horizon Corp. During the bank’s earnings call last week, executives for the… Read more »
David’s Bridal is moving forward with plans to sell the leases for hundreds of stores across the U.S., including eight in Greater Philadelphia, less than two months after filing for Chapter 11 bankruptcy protection. A&G Real Estate Partners, a real estate advisory firm based in Melville, New York, is working with David’s Bridal on the… Read more »
The restaurant and bar filed for Chapter 11 bankruptcy protection on May 26 in order to halt legal action taken by one of its landlords to evict the Copabanana. *Article courtesy of Philadelphia Business Journal For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a… Read more »
Three adjacent buildings in Rittenhouse Square, including one that was home to the former Irish Pub, are back on the market with an asking price of $7 million. The properties, at 2007-11 Walnut St., include the old restaurant space, 10 residential units and an office. Situated on the northwest corner of Walnut and S. 20th… Read more »
WCRE is proud to have exclusively represented The Kibitz Room, in the lease of a 3,750 square-foot retail storefront being constructed at PA-309 and Witchwood Drive, Montgomery Township, Pennsylvania, joining Wawa, Citadel Credit Union and Salvatore Outdoor. The Kibitz Room is operated by the renowned Owners of the popular Kibitz Room in Cherry Hill, NJ and… Read more »
Despite concerns of a retail apocalypse over the past decade from the threat of online shopping, which was heightened during the pandemic, recent leasing performance on the part of Philadelphia retailers tells another story. Retail space listed on the market in the Philadelphia region is now at 18.7 million square feet — 20% below the… Read more »
PREIT said Thursday it’s still looking to sell Exton Square Mall, and now Plymouth Meeting Mall, the next move in its saga to generate cash with a pivotal loan deadline looming. The Business Journal reported Exton Square Mall was under agreement last spring to sell to Brandywine Realty Trust for $28.8 million, but PREIT revealed the deal… 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 6741 Essington Ave in Philadelphia, Pennsylvania. The Philly property is available for sale, priced at $899,000. The property is +/- 4,182 square-feet and is zoned I-2. Features of 6741 Essington Ave in… Read more »
