Target Corp. is closing its store at 12th and Chestnut streets in Center City nearly seven years after opening the location. The company said it will shutter the 19,000-square-foot Washington Square store due to several years of declining performance. The store, one of Target’s small-format locations, is scheduled to close May 13. Target (NYSE: TGT)… Read more »
Rita’s Italian Ice & Frozen Custard plans to open 40 new locations and add a new product line this year. The company, headquartered in Trevose, will expand into Missouri and add to its presence in Midwest states such as Illinois, Texas and Oklahoma. Rita’s CEO Linda Chadwick said that although the brand is primarily regional, it has… Read more »
A popular Northern Liberties fried chicken eatery has launched its first franchising efforts after almost six years in operation, with plans to open up to a half-dozen new locations. Love & Honey Fried Chicken, located at 1100 N. Front St., announced the news via social media on Monday. The brand has already received interest from dozens… Read more »
The 100-year-old Famous 4th Street Delicatessen in Queen Village is officially being listed for sale with an asking price of $5.95 million. The listing for the Jewish deli on Feb 15. Although MPN does not include an asking price on its listing, a cross-posting on online commercial real estate marketplace Crexi shows the three-story property… Read more »
Jennifer Roberts started her current role as CEO of JPMorgan Chase’s consumer banking division in March 2021 while the nation’s largest bank was two years into a bold plan to add 400 new locations in 20 new markets over five years, including 50 in the Philadelphia region. As the bank nears the end of its original timeline,… Read more »
Insomnia Cookies has launched global expansion efforts for the first time in the 20-year-old company’s history, with plans to open stores in Canada and the United Kingdom this summer. The Philadelphia-headquartered cookie and dessert retailer’s international presence will start with one store in the Toronto area and two in Manchester, UK. Over the next few… Read more »
PREIT’s plan to gain approval for multifamily developments at six of its mall properties has now swelled to as many as 7,000 apartments, CEO Joseph Coradino told the Philadelphia Business Journal. After selling off more than 20 malls in the past two decades, the Philadelphia company’s strategy has shifted to maximizing its remaining properties by… Read more »
Eight months after a shooting that killed three people and wounded 11 on Philadelphia’s South Street, businesses in the neighborhood are still feeling the impact of the tragedy. Late last spring, the South Street Headhouse District was attracting about 30,000 visitors on Saturdays before seeing that number cut almost in half immediately following the mass shooting on… Read more »
PREIT has sold a Whole Foods-leased parcel at Plymouth Meeting Mall for $27 million, part of the Philadelphia real estate investment trust’s ongoing plan to raise capital. The buyer was Agree Realty (NYSE: ADC), a REIT based in Bloomfield Hills, Michigan. Since the beginning of 2022, PREIT has sold assets generating $141 million. Asset sales… Read more »
Eyes Gallery has sold its original home to neighboring Jim’s Steaks, another iconic South Street establishment. Both small businesses were devastated by a July 2022 fire that originated in electrical wiring at Jim’s. The cheesesteak spot, which recently shared plans for rebuilding, will expand into the former gallery next door, according to Eyes Gallery owner Julia Zagar… Read more »
