Insomnia Cookies is Launching Global Expansion

Insomnia Cookies Launch Global Expansion

Insomnia Cookies has launched global expansion efforts for the first time in the 20-year-old company’s history, with plans to open stores in Canada and the United Kingdom this summer. 

The Philadelphia-headquartered cookie and dessert retailer’s international presence will start with one store in the Toronto area and two in Manchester, UK. Over the next few years, founder and CEO Seth Berkowitz said Insomnia plans to open 50 to 100 locations in both countries over the next few years. 

“We believe there is plenty of opportunity to continue growing in both markets,” he said. 

Insomnia decided to expand globally after market research showed international interest in the brand, Berkowitz said. The company chose the locations based off of positive consumer feedback it received for its products in each area. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

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PREIT is Eyeing Apartments on its Mall Properties

PREIT Apartments

PREIT’s plan to gain approval for multifamily developments at six of its mall properties has now swelled to as many as 7,000 apartments, CEO Joseph Coradino told the Philadelphia Business Journal.

After selling off more than 20 malls in the past two decades, the Philadelphia company’s strategy has shifted to maximizing its remaining properties by converting uses and selling underused land adjacent to the malls.

In the Philadelphia area, PREIT is working toward building a total of 1,400 apartments on its land at the Moorestown Mall, Plymouth Meeting Mall, Willow Grove Park and Exton Square properties. That includes 375 apartments at the Moorestown Mall that are already under construction. PREIT is in the process of gaining approvals at the other three properties.

*Article courtesy of SmartNews

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

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South Street Businesses Still Effected After Mass Shooting

Philly Businesses Still Feel Effects from Mass Shooting on South Street

Eight months after a shooting that killed three people and wounded 11 on Philadelphia’s South Street, businesses in the neighborhood are still feeling the impact of the tragedy. 

Late last spring, the South Street Headhouse District was attracting about 30,000 visitors on Saturdays before seeing that number cut almost in half immediately following the mass shooting on June 4. The tragedy garnered attention from local and national media outlets, and the publicity has had a lasting effect on the way the area is perceived by residents and outsiders alike, according to South Street Headhouse District Executive Director Mike Harris. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

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PREIT Sells Whole Foods Site in Plymouth Meeting

Whole Foods Plymouth Meeting Sold or $27M

PREIT has sold a Whole Foods-leased parcel at Plymouth Meeting Mall for $27 million, part of the Philadelphia real estate investment trust’s ongoing plan to raise capital. 

The buyer was Agree Realty (NYSE: ADC), a REIT based in Bloomfield Hills, Michigan. 

Since the beginning of 2022, PREIT has sold assets generating $141 million. Asset sales and excess cash from operations went toward paying down $184 million in debt in 2022.

Philadelphia-based PREIT (OTCMKTS: PRET) reported a net loss of $71.3 million in the third quarter of 2022 and was delisted from the New York Stock Exchange in December. The company has said it will explore its options, including positioning itself to become more attractive to another company for a potential merger.

*Article courtesy of Philadelphia Business Journal

or more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

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Jim’s Steaks is buying next-door neighbor Eyes Gallery

Jim's Steaks Philly

Eyes Gallery has sold its original home to neighboring Jim’s Steaks, another iconic South Street establishment. Both small businesses were devastated by a July 2022 fire that originated in electrical wiring at Jim’s.

The cheesesteak spot, which recently shared plans for rebuilding, will expand into the former gallery next door, according to Eyes Gallery owner Julia Zagar — while keeping the artwork on the facade.

“I realized that Jim’s Steaks would actually look really good with a lot of mosaics,” Zagar told Billy Penn.

Some of the artwork — created by famed mosaic muralist Isaiah Zagar, Julia’s husband — needs restoration, and she said the plan is for Philadelphia’s Magic Gardens to assist Jim’s Steaks in that process.

*Article courtesy of Smart News

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

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Five Beyond conversions for 2023

Five Below offers new details on store expansion, Five Beyond conversions for 2023

Five Below Inc. said it plans to open more than 200 new stores in 2023 and convert 400 stores to its “Five Beyond” format, which features items priced above its traditional $5 threshold.

The Philadelphia-based discount retailer revealed its 2023 expansion plans on Monday as it reported that net sales for the holiday season from Oct. 30 through Jan. 7 increased by 11% to $1 billion from $902 million in 2021. 

The planned openings are part of Five Below’s (NASDAQ: FIVE) “triple-double” expansion plan that includes tripling its national footprint to more than 3,500 stores by the end of 2030 and eventually doubling sales to $5.6 billion. Five Below currently has nearly 1,200 stores in 40 states.

The company opened 40 new stores in the third quarter and announced plans to open 48 stores in the fourth quarter. It has also converted 250 stores to the Five Beyond concept. 

*Article courtesy of Philadelphia Business Journal 

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties www.wolfcre.com.

s for lease or sale through our Philadelphia commercial real estate brokerage firm.

Wawa CEO Reveals Plans for Center City Stores

Wawa CEO reveals plans for shuttered Center City stores, including launch of a tech hub

Wawa plans to open a technology hub at the site of one of its recently shuttered Center City locations, CEO Chris Gheysens said Friday.

Gheysens made the announcement during a panel discussion at the Chamber of Commerce for Greater Philadelphia’s 2023 Economic Outlook event. He told the Business Journal that the Delaware County convenience store chain’s space at 19th and Market streets, which shuttered last fall, will potentially serve as a venue to bring startups together in a “Wawa real-life environment” to provide tech solutions for the company. 

He said the details of the technology hub are still in the works.

The hub could also provide training for young workers to help meet the growing demand for tech talent in the region, Gheysens added. It could be Wawa-specific, or could serve as a more regional, multi-partner venue.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

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Luxury Mattress Company to Open Brick and Mortar Store in Center City

Luxury online mattress store to open location in Center City Philly

A national luxury mattress retailer is coming to Center City. 

Saatva, based in New York, will debut its ninth retail viewing room at 1712 Walnut St. in Rittenhouse Square on Feb. 13. The location was previously home to a Wells Fargo Bank branch.

The e-commerce brand, founded in 2010, sells mattresses, bedding and other bedroom products online. It is in the process of expanding into bedroom furniture and will offer bedroom rugs later this year. Saatva makes $400 million in total revenue annually, according to co-founder and chief strategy officer Ricky Joshi. Its nine mattress products range in price from $355 for a crib mattress to $4,550 for a split California king. 

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

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

Jim’s Steaks Eyes Labor Day Reopening

Jim's Steaks Philly

The rebuild of Jim’s Steaks on South Street has finally begun after the building was damaged by a fire in July, and the almost 47-year-old Philadelphia cheesesteak shop is targeting a Labor Day weekend reopening. 

After teasing the new blueprints for the building via Twitter last week, President Ken Silver told the Business Journal Jim’s is currently in the interior demolition phase of the rebuild. Once everything in the building is cleared out, Silver and his team will be able to identify and fix any unknown structural damages before beginning construction on the interior. 

Philadelphia firm Worldwide Restoration LLC is doing the demolition for the project, and Silver has tasked Ambit Architecture, a local architectural firm in Headhouse Square, with the design of the space. Ambit completed the design of Bridget Foy’s, a restaurant and bar in the area that was also devastated by a fire in October 2017.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

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Primo Hoagies Plans for Expansion to Colorado

Primo Hoagies, Philly Staple Expanding to Colorado

If Texans aren’t sure what a hoagie is, they’ll soon find out.

PrimoHoagies announced plans to expand its franchise locations in 2023 not only to the north and south, but to the west, as well.

The company, which started in South Philly but is now based in Gloucester County, said stores would open in five new states in 2023, bringing its operations to 12 states in all.

“We’re thrilled to kick off the new year by introducing the Primo Difference to Texas, Colorado, Michigan, and Louisiana and, later this year, to Albany, N.Y.,” Nicholas Papanier Jr., owner, president, and CEO of PrimoHoagies, said in the announcement.

*Article courtesy of The Inquirer

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties 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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors, and sellers.

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