Suburban Square adds 7 stores in 2025

Suburban Square adds 7 stores in 2025

Seven new stores are set to open at Ardmore’s Suburban Square as the retail center expands with a mixed-use development. Kimco Realty, based in Jericho, NY, has partnered with the Bozzuto Group of Greenbelt, MD, to build Coulter Place, a $100 million, five-story project featuring 131 apartments and 20,000 square feet of retail space. Slated for completion in mid-2025, some retail spaces have already been leased. Suburban Square, a 355,000-square-foot property, is currently 99% leased, with only two existing spaces available, according to MSC Principal Douglas Green, who, along with Brittany Goldberg, handles leasing for Kimco.

*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.

Fried Chicken Chains Plan Expansions in Philadelphia

Fried Chicken Chains Plan Expansions in Philadelphia

The Philadelphia region has experienced a surge in fried chicken restaurants, with new openings and leases multiplying over the past year. Local and national brands are seizing the opportunity, securing locations across the city and suburbs to meet rising demand. In 2024, fast-casual and quick-service chicken concepts signed at least 22 leases—double the total from 2023—indicating a thriving market.

Leading the charge is local favorite Federal Donuts & Chicken, which opened a new 5,000-square-foot flagship in South Philadelphia and signed leases for four additional locations. These include three suburban spots in Willow Grove, Radnor, and Conshohocken, plus a Philadelphia International Airport location set to open in spring 2025.

*Article courtesy of Costar

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.

Wawa Closing Third Philly Location

Wawa to close its third Philadelphia store this year

Wawa is closing another Philadelphia location, marking its third closure in the city this year. The store, located at 33 S. 16th St. and spanning 3,000 square feet, will shut down on Monday. In an emailed statement to the Business Journal, Wawa spokesperson Lori Bruce explained that the store’s smaller size made it difficult to deliver the full Wawa experience and offerings that customers expect.

The 16th and Ranstead location, which opened in 2020, was part of a pilot program testing a compact, urban retail format with features like a walk-up window. According to the “site submission” page on Wawa’s website, the company typically prioritizes opening locations ranging from 4,000 to 6,000 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.

Philadelphia Inflation Remains Stubbornly High

Philadelphia Inflation Remains Stubbornly High

The Philadelphia metro area continues to outpace the national average in inflation, with October 2024 figures showing a 3.4% annual increase compared to the 2.6% national rate. This persistent gap reflects ongoing regional economic pressures. While inflation has eased from early 2024 peaks, when Philadelphia exceeded 4%, the local rate has consistently averaged 0.8 percentage points higher than the national figure. Shelter costs, the largest component of the consumer price index, remain a key driver. In October, Philadelphia’s shelter costs rose 5.1% year-over-year, slightly above the national increase of 4.9%. Excluding shelter, Philadelphia’s inflation rate stands at 2.3%.

*Article courtesy of Costar

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.

Trader Joe’s Announces Second Chester County Location

Trader Joe's Announces Second Chester County Location

Trader Joe’s is set to open its second Chester County store in Berwyn at 550 Lancaster Ave., the company announced on its website. While no opening date has been provided, the new location will occupy a 14,000-square-foot corner space in the Berwyn Shopping Center, previously home to a CVS Pharmacy that closed in September 2023. The store will not sell alcohol, and Trader Joe’s did not immediately comment on the plans. Trader Joe’s stores typically range from 8,000 to 15,000 square feet, smaller than the average grocery store format of 40,000 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.

Giant Closing Center City Store After 3 Years

Giant Closing Center City Store After 3 Years

Giant Co. is closing its Heirloom Market grocery store in Center City’s Fashion District on Dec. 28, three years after its opening, according to a state filing. The 32,000-square-foot store at 801 Market St., which employs 61 people, was the largest of Giant’s four Heirloom locations in Philadelphia. Opened in December 2021 in the historic Strawbridge’s building, it was part of a push to expand the urban-focused concept. The closure reflects ongoing challenges in the Market East corridor and Fashion District. Giant’s other Philadelphia locations include a 65,000-square-foot flagship store at Riverwalk and a location at 510 N. Broad St.

*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.

TGI Fridays to Exit 80 U.S. Leases

TGI Fridays to Exit 80 U.S. Leases

A U.S. bankruptcy judge has approved TGI Fridays’ plan to exit 78 restaurant leases and its Dallas headquarters office lease, saving the chain about $1.4 million per month. This move follows the closure of several locations and TGI Fridays’ Chapter 11 filing due to financial struggles linked to the pandemic and its capital structure. The bankruptcy case does not affect the 122 U.S. franchised locations or 316 international franchised restaurants, as they are independently owned.

After exiting these leases, TGI Fridays will operate only 39 company-owned U.S. locations, down from 117 before bankruptcy. An attorney for the chain stated that TGI Fridays retains the right to reject additional leases during the proceedings. The court also approved $3.3 million in interim debtor-in-possession financing.

*Article courtesy of Costar

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.

Reading Terminal Market Offers Shorter Leases for New Vendors

Reading Terminal Market Offers Shorter Leases for New Vendors

To revitalize its offerings, Reading Terminal Market is launching shorter leasing options for new merchants. The historic market, one of the largest and oldest in America, is reinstating its day cart program and plans to pilot a short-term lease option within the next year, according to CEO Annie Allman. These initiatives are part of Reading Terminal’s new five-year strategic plan.

The day cart program aims to introduce new businesses with the potential to become full-time merchants, while the short-term leases will regularly refresh the market’s offerings for returning customers.

“All stakeholders emphasized the importance of keeping the market both familiar and fresh,” Allman noted.

*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.

Retail Construction Hits New Lows in Philly

Retail Construction Dwindles in Philadelphia

Despite a steady construction pipeline in recent years, retail development in the Philadelphia area has reached a new low in 2024. With just one quarter remaining, the year is on pace to have the fewest retail construction starts in decades, mirroring a nationwide trend.

Only 200,000 square feet of retail space has broken ground in the Philadelphia region this year, a sharp decline compared to the more than one million square feet seen in previous years. This drop signals a record-low level of new retail inventory in the near future, further limiting the supply of modern retail spaces in high demand.

*Article courtesy of Costar

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.

Temple University Acquires North Broad Street Shopping Center

Temple University Acquires North Broad Street Shopping Center

Temple University has purchased a shopping center on North Broad Street near its health system campus, with potential plans to add medical offices. The university paid $8.2 million to Overbrook Investment Properties LLC for the 45,290-square-foot retail property, according to property records. The site is fully occupied, except for an 11,447-square-foot former Rite Aid.

Located at 3216-60 N. Broad St., on the southwest corner of Broad and Westmoreland streets, the center sits south of Temple University Hospital and across from the Maurice H. Kornberg School of Dentistry.

Temple Health CEO Michael A. Young stated that the health system is considering offering primary care physician services at the location. If implemented, these services would occupy the former Rite Aid space, while the remaining retail tenants would continue to operate, according to Temple spokesperson Steve Orbanek.

*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.