Dekalb Plaza Sells for $23.1M

Development buys Dekalb Plaza for $23.1 million

Abrams Realty & Development has added to its local holdings with the $23.1 million acquisition of the Dekalb Plaza, a 178,356-square-foot shopping center in East Norriton.

The seller was Bethesda, Maryland-based Broad Street Realty.

Dekalb Plaza shopping center is 98% leased and anchored by Urban Air and Big Lots. Goodwill, Chick-fil-A, Applebee’s, Sally Beauty and Celebree School are also tenants. Since 2020, Broad Street Realty executed 96,600 square feet of new leases, renewals and extensions.

*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.

Lidl Closing Stores in King of Prussia and Burlington County

Lidl closing king of prussia stores

German grocer Lidl is closing a store in King of Prussia after 18 months, one of several locations being shuttered by the company later this week.

A store at 1601 Burlington-Mount Holly Road in Burlington Township, New Jersey, is also set to close, the Cherry Hill Courier-Post reports.

*Article courtesy of Philadelphia Business Journals

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.

David’s Bridal Potential Buyer May Almost Save 200 Stores

David's Bridal in talks with potential buyer to save almost 200 stores

David’s Bridal is in talks with a potential buyer for some of the company’s assets, a deal that would save thousands of jobs and almost 200 stores across the retailer’s portfolio. 

The Conshohocken wedding dress retailer confirmed it is in “advanced discussions with an interested bidder.” The bid would save approximately 7,000 employees and nearly 195 stores, according to David’s Bridal.

The company did not name the bidder. 

*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.

The Brass Tap, Florida-Based Craft Beer, Opening First Philly Location

A Florida craft beer bar chain is entering the Philadelphia market with a location in Manayunk.

A Florida craft beer bar chain is entering the Philadelphia market with a location in Manayunk. 

Tampa-based brand The Brass Tap plans to open at 177 Markle St. in late 2023 or early 2024. Franchisees Danielle and Izak Du Plooy acquired the property for $689,000 in December of 2021, originally renting the building out to tenants before deciding late last year to look for their own concept to run in the space. 

The couple hopes the forthcoming bar and restaurant will become a place for both Manayunk residents and those from other areas of the city to enjoy. 

*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.

Forman Mills Seeking Buyer

Forman Mills searches for buyer, warns of potential bankruptcy and store closures

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,” according to a letter penned by CFO Kevin Hess and filed with the Pennsylvania Department of Labor and Industry on June 12. If it does not find a buyer, Forman Mills expects to file for Chapter 11 bankruptcy protection and begin closing stores, including seven in Eastern Pennsylvania. 

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

Quartermaster Plaza Back on Market After a Year

Quartermaster Plaza on the market again

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 portfolio from Massapequa, New York-based Cedar Realty Trust for $879 million. The sale price of Quartermaster Plaza was $100.1 million, property records show. In 2014, Cedar Realty Trust had bought the property from Cleveland-based Forest City Ratner Cos. for $92.3 million.

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

TD Bank Adding Branch in Philadelphia in 4 Years

TD Bank adding first Philadelphia branch in 4 years, scouts for 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 Toronto-based parent company TD Bank Group (NYSE: TD) said the Cherry Hill-based U.S. subsidiary would add 150 branches by 2027, including 18 this year alone. Most of those new branches will be in its growing footprint in Florida and the Carolinas. The bank also said it would add locations in more established markets such as Philadelphia.

*Article courtesy of Smart News

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

278 David’s Bridal Leases Across U.S. Up For Sale

David's Bridal plans to sell the majority of the leases at a bankruptcy auction in July.

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 sale of leases for 278 of its stores across the country. The company is accepting private offers for 49 of the leases in June, while the remaining 229 locations will be sold via a bankruptcy auction in July. 

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

Copabanana in Philly Files for Chapter 11 Bankruptcy

Copabanana on South Street files for Chapter 11 bankruptcy to stave off eviction

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

Three Rittenhouse Square Buildings Back on the Market

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 streets, the combined property offers the chance to add to the lively bar and restaurant scene in the surrounding neighborhood. A new buyer, however, will have to do so under a different name.

*Article courtesy 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 websites for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.