For Sale: Franklin Mall, A Prime Candidate for Redevelopment

For Sale: Franklin Mall, A Prime Candidate for Redevelopment

As the sales of Montgomery Mall in North Wales, Neshaminy Mall in Bensalem, and Exton Square Mall in Chester County move forward, local developer Michael Markman recalls hearing “tons of chatter” about the fate of those struggling retail centers.

But when it comes to the Franklin Mall, the silence is deafening.

The future of the once-thriving Northeast Philadelphia shopping center — formerly known as Franklin Mills and later Philadelphia Mills — remains uncertain. A relic of its 1990s and early 2000s heyday, the massive complex has seen its value plunge by more than 60% over the past 12 years, with vacant storefronts now dotting its interior. The property entered receivership in September as ownership looks to walk away.

Like the other malls before it, Franklin Mall faces an uphill battle — both in remaining viable as a retail destination and in being repurposed for alternative uses, says Markman, president of BET Investments and a veteran in mixed-use suburban redevelopment.

*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 (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Glu Hospitality Closure Leaves Vacant Spaces in Philly

Glu Hospitality Closure Leaves Vacant Spaces in Philly

Philadelphia restaurant group Glu Hospitality has shut down, splitting its 16 locations across nine concepts among new owners and leaving vacant spaces across the city. Co-founder Derek Gibbons said the company grew too quickly during the pandemic, straining its finances. Founded in 2019 by Gibbons and Tim Lu, Glu also faced lawsuits, wage theft allegations, and a state labor investigation, which remains ongoing. Gibbons insists these issues are unrelated to the closure. In recent months, Glu began transferring ownership of some restaurants while shutting down others.

*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 (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Giant To Open New Store in Chester County

Giant To Open New Store in Chester County

Giant is expanding its presence in the Philadelphia region with plans for a new 60,000 SF store at the Shoppes of Sadsbury in Chester County. Located at Route 30 and Route 10 in Parkesburg, this will be Giant’s 13th location in the county. Part of a 360,000 SF retail center developed by Villanova-based Provco Group, the store will anchor the project alongside Target. Construction is set to begin later this year, though an opening date has not been announced.

This expansion adds to Giant’s growing footprint in Greater Philadelphia. A 50,000 SF Jenkintown store opens next month, following a 40,000 SF location in South Philadelphia in December. Another store is also under development at Andorra Shopping Center in Northwest Philadelphia.

*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 (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Increased Expenses Create Tight Retailer Profits

Increased Expenses Create Tight Retailer Profits

Philadelphia’s retail market showed signs of weakening as it approached 2025, with annual net absorption—reflecting the net change in occupied retail space—falling well below historical averages. However, despite this slowdown, the market remains relatively tight, particularly in the suburbs.

Retail locations in Center City continue to face challenges due to reduced office occupancy, yet limited new construction and fewer demolitions of older retail properties have helped maintain stability.

Here’s what CoStar market analytics is hearing from local industry experts about Philadelphia’s retail landscape in early 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 (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

KOP Mall Nears Deal for Former JC Penney Building

KOP Mall Nears Deal for Former JC Penney Building

The King of Prussia Mall is nearing a deal to bring new retail and entertainment to the former JCPenney building. The 104,065-square-foot space, vacant since JCPenney closed in 2017, is on the mall’s north side. Mall owner Simon Property Group has considered multiple redevelopment options over the past eight years, including a hotel, office buildings, residences, and a park, as well as converting the space for medical use—none of which materialized.

In June 2022, Wayfair planned to open its flagship store there, featuring a café, rooftop deck, and bar, but the deal fell through in late 2023. Following Wayfair’s exit, Hart said the mall was negotiating with a retailer for the second and third floors while exploring an entertainment concept for the first.

*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 (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Bucks County Shopping Center Sold for $21M

Bucks County Shopping Center Sold for $21M

The fully leased Bensalem Shopping Center has been sold to a local private investor for $20.5 million, or $188 per square foot, according to industry sources. An entity affiliated with the Popli family acquired the 109,057-square-foot property from Philadelphia-based Empire Realty Investments Inc. The grocery-anchored center, located at 1903 Street Road, sits on a 9-acre site at the intersection of Street Road and Hulmeville Road, near Bensalem Township Country Club and Cecelia Snyder Middle School, 15 miles north of Center City Philadelphia. Built in 1972, the shopping center is anchored by grocery chain Patel Brothers and includes tenants such as Dollar General, Advance Auto Parts, and Unlimited PCS.

*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 (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

TD Bank Closing Branches, Including One’s in Philly

TD Bank Closing Branches, Including One's in Philly

TD Bank plans to close 38 branches across its footprint, including four in the Philadelphia region, amid massive penalties tied to U.S. anti-money laundering issues. The bank did not confirm whether the closures are part of recent cost-cutting efforts but stated it regularly evaluates its branch network to optimize service through a mix of physical locations and digital banking.

The closures span 10 states and Washington, D.C., with the highest numbers in New Jersey and Massachusetts (six each), followed by New York (five), and four each in New Hampshire and Maine. Pennsylvania and Florida will each lose three, while Connecticut, Virginia, and South Carolina will each lose two, and Washington, D.C., one. Delaware, Vermont, Rhode Island, and North Carolina remain unaffected. TD is shutting 38 of its roughly 1,100 U.S. retail branches without announcing any new openings—similar to last year, when it closed 53 and opened eight.

*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 (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

KOP Retail Building Hits Market

KOP Retail Building Hits Market

A 10,000 SF retail building across from the King of Prussia Mall is on the market for $13.29M ($1,329 per SF), one of the highest price-per-SF rates in the region. Set for completion by early summer, the property at 129 S. Gulph Road is pre-leased to Cava and First Watch on 10-year terms, with a third space still available. Owned by Wayne-based Gulph Creek Hotels, the site sits at the high-traffic intersection of Gulph Road and Route 202, adjacent to the Residence Inn and The Prussia Hotel.

*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 (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.

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

Prominent Retail/Office Lease Opportunity

1717 South Broad Street, Philadelphia, Pennsylvania 19148

Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 1717 South Broad Street, Philadelphia, Pennsylvania 19148.  The Philadelphia property is available for lease.

The property contains +/- 1,580 square feet, which could be utilized by retail and office users.

Features of 1717 South Broad Street

1717 South Broad Street is ideal for a cafe, deli, professional services, boutique, or medical use. The property is immediately available for lease and features rare off-street parking in the rear. It benefits from prominent visibility and signage along Broad Street. The location is conveniently close to the CHOP Primary Care Facility, the Broad Street Subway, Passyunk Avenue, and the adjacent USPS, ensuring easy access and high foot traffic.

For more information about the lease price or a tour of the retail site, please contact Eric Flocco, Executive Vice President, at (609) 790 6940 or via email eric.flocco@wolfcre.com and Corey Hassman, Senior Advisor, at (856) 261 5812 or via email corey.hassman@wolfcre.com. To review the brochure, please click here.

Wolf Commercial Real Estate is a full-service CRE brokerage and advisory firm with a full range of commercial real estate listings and services. The firm handles a variety of properties including medical, office, industrial, retail and investment. WCRE represents buyers, landlords, investors, tenants and sellers and also provides property management services. For a full list of buildings and suites that are available for sale or lease, visit www.wolfcre.com.

Prominent Retail Space For Lease

901 North Bethlehem Pike, Springhouse, Pennsylvania

Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for Spring House Plaza located at 901 North Bethlehem Pike, Springhouse, Pennsylvania 19477.  The Springhouse property is available for lease.

The property contains +/- 2,875 square feet, which could be utilized by retail users.

Features of Spring House Plaza

Spring House Plaza has store-front and pylon signage and is available for immediate occupancy with ample parking, located directly off heavily traveled Bethlehem Pike with 27,525 vehicles per day. 901 North Bethlethem Pike has easy access to major highways which as the PA Turnpike and Routes 309 &202. Furthermore, Spring House Plaza is near various fitness centers, restaurants, and national retailers.

For more information about the lease price or a tour of the retail site, please contact Eric Flocco, Executive Vice President, at (609) 790 6940 or via email eric.flocco@wolfcre.com. To review the brochure, please click here.

Wolf Commercial Real Estate is a full-service CRE brokerage and advisory firm with a full range of commercial real estate listings and services. The firm handles a variety of properties including medical, office, industrial, retail and investment. WCRE represents buyers, landlords, investors, tenants and sellers and also provides property management services. For a full list of buildings and suites that are available for sale or lease, visit www.wolfcre.com.