Medium Rare, a steakhouse chain founded in Washington, D.C., has opened its first Philadelphia restaurant as part of a broader national expansion strategy. The new location sits at 1540 Frankford Ave. in Fishtown. The 3,400-square-foot space seats about 100 diners inside, with an additional 40 seats on a rear patio. The restaurant occupies the ground… Read more »
Peter Abrams and his team at Abrams Realty & Development took West Whiteland Township’s feedback to heart after July’s planning commission meeting, where officials emphasized the need for more open space in the Exton Square Mall redevelopment plan. After a month of revisions, the Elkins Park-based developer—alongside architect Barton Partners—will return to the commission Tuesday… Read more »
Efforts to reimagine the retail portion of Philadelphia’s historic Wanamaker Building are moving forward, now marketing the property to prospective tenants. The 300,000 square feet spanning the first three floors, formerly occupied by Macy’s, has been vacant since the retailer closed this past spring — a setback for the already challenged Market East corridor. Situated… Read more »
Harris Blitzer Sports & Entertainment and Comcast Corp. have purchased the former Rite Aid at 10th and Market Streets for $15 million, signaling renewed interest in redeveloping the Market East corridor. The 26,000-square-foot building, mostly vacant since Rite Aid closed in 2022, was occasionally used by seasonal tenants like Spirit Halloween. The $577-per-square-foot sale came… Read more »
In his 27-plus years with IKEA U.S., current COO Rob Olson says he’s never witnessed growth at the pace the company is now pursuing. The U.S. arm of the Swedish home furnishings giant is focusing its expansion on two newer store concepts: smaller-format locations ranging from 50,000 to 100,000 square feet, and “plan and order… Read more »
Atlanta restaurateur Garis Eddington is bringing his latest concept, Tailgate Sports Bar, to the heart of Northern Liberties this August. Located at 1033 N. 2nd St., the new spot promises more than just food and drinks — it’s designed to deliver what Eddington calls a “high-energy dining” experience. Inspired by the spirit and excitement Philadelphia… Read more »
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,… Read more »
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… Read more »
Fulton Financial Corp. has sold 11 local branches to South Philadelphia’s Hightop Development as part of its ongoing real estate review following last year’s acquisition of Republic First Bancorp. Most of the sold locations were acquired through Fulton’s 2022 purchase of Prudential Bancorp. According to bank spokesman Steve Trapnell, the branches will continue operating as… Read more »
A prominent South Philadelphia shopping center with a strong tenant lineup has hit the market. Goldenberg Group, a Blue Bell-based developer, has listed the fully occupied Columbus Commons at 2106 S. Christopher Columbus Blvd. for sale. The retail center, developed nearly 20 years ago, spans 643,810 square feet in total. However, the listing excludes Ikea… Read more »
