As Philadelphia’s premier suburban retail districts continue to see strong interest from retailers and corresponding rent growth, retail locations in Center City’s downtown districts have seen average rents decline in the past year. The Market West, Market East and Independence Hall retail districts—all located in Center City—have decreased between -1.5% and -0.9%, falling behind the… Read more »
The founders of a sustainable apparel and coffee company plan to redevelop the 191-year-old Society Hill Hotel building into a “five-star” boutique property with a whiskey bar-themed dining concept. Mike Cangi and Brian Linton are aiming for a January or February opening of the new Society Hill Hotel at 301 Chestnut St. in Old City…. Read more »
The opening of PJW Restaurant Group’s 23rd P.J. Whelihan’s Pub and Restaurant this fall in Conshohocken will mark the fourth location that the group has opened in just over a year, the most it’s ever brought online within a 13-month time span. The P.J. Whelihan’s brand is now the sole focus for expansion for Westmont,… Read more »
As part of Brixmor Property Group’s $50 million redevelopment of the Roosevelt Mall in Northeast Philadelphia, grocery store Sprouts Farmers Market and quick-service restaurants Panda Express and Raising Cane’s Chicken Fingers are planned to open. The 24,000-square-foot Sprouts store is scheduled to open in the first quarter of 2024 while the 2,000-square-foot Panda Express and… Read more »
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… Read more »
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… Read more »
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,”… Read 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… Read more »
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… Read more »
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… Read more »
