Twin Peaks Secures Franchise Deal for 10 Locations in Greater Philadelphia

Twin Peaks, the Lodge-Style Sports Bar Chain, Secures Franchise Deal for 10 Locations in Greater Philadelphia

Twin Peaks Restaurant has recently entered into an area development agreement with local entrepreneur Joe Nolan, marking its foray into the Philadelphia market. The agreement outlines plans to open 10 restaurants in the region over the coming years, although specific details about signed leases were not disclosed, as announced by Twin Peaks on Monday.

Renowned for its lodge-style ambiance, draft beers served at 29 degrees in frosted 22-ounce mugs, and its distinctive female waitstaff known as Twin Peaks Girls, the Dallas-based chain has a predominant presence in the South and Midwest. The closest existing Twin Peaks Restaurant to Philadelphia is currently situated in Pittsburgh.

*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 full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

French Bakery Plans to Enter Philly Market

La Madeleine, a french bakery, looking in Philly to expand

A French bakery and café chain is actively seeking franchisees to spearhead its expansion into Greater Philadelphia. La Madeleine has pinpointed 25 trade areas across downtown Philadelphia and its suburbs, identifying opportunities for at least one location in each area. While no deals are currently in progress, the chain aims to establish an initial 25 restaurants within the next three to five years, as stated by Mark Ramage, the brand’s Senior Director of Franchise Development. Ramage expressed confidence in exceeding this target, considering it a robust number for this fast-casual concept.

*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 full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Famous 4th Street Deli Sold to Connecticut Group

Famous 4th Street Deli Sold

The historic Famous 4th Street Delicatessen in Queen Village, which has stood for a century, is now under the ownership of the Locals 8 Hospitality Group based in Connecticut. The acquisition of this cherished Philadelphia establishment, along with its 7,263-square-foot building at 700 S. 4th St., was finalized on Jan. 8, as confirmed by founder and CEO Al Gamble in an interview with the Business Journal on Friday. However, Gamble opted not to disclose the specific purchase price.

Established in 1923 at the corner of 4th and Bainbridge streets, Famous 4th Street Deli is renowned for its generous portions of corned beef and pastrami sandwiches. Beyond its culinary offerings, the deli has earned a reputation as a gathering place for Philadelphia politicians on Election Day. Notably, the Jewish deli has left its mark on the big screen, appearing in films like the 1993 drama “Philadelphia” and the 2005 romance “In Her Shoes.” Additionally, it has been featured on Food Network’s “The Rachel Ray Show.”

*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 full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Philly Retail is Looking Upward Despite Remaining Challenges

2023 in Review: Philadelphia retail on the upswing, but challenges remain

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 2019. By October, daily foot traffic within the core of Center City—spanning from Pine to Vine streets between the Delaware River and the Schuylkill—reached 82% of the levels seen in 2019.

Simultaneously, comparisons with 2019 figures for pedestrian levels on weekday evenings (87%) and weekends (95%) indicate a downtown rebound as a bustling hub for retail, dining, and entertainment, according to the Center City District’s report.

*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 full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Tim Hortons Inks Multi-Unit Deal for Debut Stores in Delaware, Eyes Expansion in Greater Philadelphia

Tim Hortons Inks Multi-Unit Deal for Debut Stores in Delaware, Eyes Expansion in Greater Philadelphia

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. 30. This store is managed by one of the brand’s leading franchisees in New Jersey, who also owns Tim Hortons’ other South Jersey establishment at 57 N. White Horse Pike in Stratford, as revealed by Ryan Ferranti, head of business development for Tim Hortons’ U.S. operations.

Additionally, Tim Hortons has recently finalized a multi-unit development agreement with a franchisee to launch its inaugural stores in Kent and New Castle counties in Delaware. While specifics regarding the exact number of locations remain undisclosed, Ferranti mentioned that the agreement encompasses multiple stores slated for rollout within the next five years. The earliest of these new locations could potentially open by late 2024.

*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 full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

P.J. Whelihan’s Opening New Restaurants in Delco

P.J. Whelihan's opening new restaurants in Delco, South Jersey in 2024

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 and South Jersey for 2024. While specific locations are yet to be disclosed due to pending lease finalizations, P.J. Whelihan’s presently operates in two Delaware County spots—Newtown Square and Broomall—and has a footprint in South Jersey with restaurants in Cherry Hill, Haddon Township, Washington Township, Medford Lakes, and Maple Shade.

These new establishments will complement the upcoming launch of another P.J. Whelihan’s set to open in the Wynnewood Shopping Center on the Main Line next year. Fris anticipates the 7,673-square-foot restaurant to open on April 1, pending the smooth progress of the build-out process.

*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 full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

PREIT Files for Chapter 11 Bankruptcy

PREIT files for Chapter 11 bankruptcy protection, agrees to relinquish stake in Fashion District

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 a restructuring agreement with its lenders. Pending court approval, the company aims to transition to private ownership and secure additional funding through an investor consortium.

Simultaneously with the bankruptcy filing, Philadelphia-based PREIT (OTCMKTS: PRET) has consented to relinquish its 50% ownership stake in the Fashion District, previously co-owned with Macerich. Despite retaining joint-ownership, Macerich has functioned as the primary owner and decision-maker for the Center City retail property since late 2020.

*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 full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Rite Aid Adds Seven More Philly Stores to Bankruptcy Sale

Rite Aid adds 7 more Philadelphia-area stores to bankruptcy sale; 8 other locations no longer available

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 properties in the Philadelphia area. Among the newly added Philadelphia leases are stores located at 810 S. Broad St. and 3260 N. Broad St.

Nationwide, the retail pharmacy chain has put up 84 retail leases and 21 fee-owned properties for sale across 14 states. This updated count shows a decrease of eight available leases from the previous listing on Nov. 5, which listed a total of 92 properties, indicating an ongoing fluctuation as stores are both added and removed from the market.

*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 full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

East Coast Wings & Grill Plans to Open Five Locations

East Coast Wings + Grill aims to open five more Greater Philadelphia locations within the next four years

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 the next three to four years. Currently, the brand operates a single restaurant in Northeast Philadelphia, situated at 2539 Castor Ave.

Originating from Winston-Salem, East Coast Wings + Grill boasts over 50 locations spread across Tennessee, South Carolina, North Carolina, Virginia, and now, Philadelphia. The chain offers an extensive selection of more than 55 wing sauce flavors available across seven different heat indexes, complemented by a menu featuring burgers, sandwiches, salads, and tacos.

*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 full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Wegmans to Open in 2024 for Yardley Store

Wegmans sets early 2024 opening date, plans new features for Yardley store

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 Stony Hill Road and Township Line Road. Construction is in progress and slated for completion in January, paving the way for the local team to oversee stocking and staff training.

Upon its inauguration, the 88,000-square-foot grocery store plans to showcase around 25,000 diverse items for sale. While smaller than Wegmans’ usual 100,000-square-foot-plus footprint, the Yardley location won’t be the chain’s smallest in the area. The store that debuted in Wilmington last autumn spans 81,000 square feet.

*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 full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.