Insomnia Cookies has ambitious growth on the horizon, aiming to roll out 1,500 additional storefronts nationwide over the next 10 years. Founder Seth Berkowitz, who launched the late-night cookie concept in 2003 while attending the University of Pennsylvania, shared that the company is also strengthening its international footprint. New stores are expected to open in… Read more »
Big-box retail growth has hit a pause in the Philadelphia metro area this year, as national retailers scale back expansion plans in response to economic pressures and shifting consumer habits. So far in 2025, just one lease over 50,000 square feet has been executed in the region. That transaction came in March, when Giant committed… Read more »
A high-visibility retail site in Bucks County — featuring a Wawa, a Tractor Supply Co., and nearly 12 acres of undeveloped land — has been sold for $12.17 million. ExchangeRight, an investment firm based in Pasadena, California, purchased the Warwick Village Commons located at 1937 York Road in Jamison from Clifton, New Jersey-based Arctrust. The… 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 »
Athleisure brand Lululemon is planning a major expansion of its Rittenhouse Square store by nearly doubling its footprint. The company is close to finalizing a deal to take over the adjacent space at 1718 Walnut St., recently vacated by menswear retailer Indochino. While a lease has not yet been signed, sources indicate the expansion is… Read more »
A Chester County shopping center designed around Giant was sold for approximately $27 million by an affiliate of Lancaster-based High Real Estate Group, according to industry sources. The firm purchased the 154,219-square-foot Suburbia Shopping Center in Pottstown from East Norriton-based Gambone Management Co. The center is 85% leased and located at 80 Glocker Way, just… Read more »
A joint venture of ShopOne Centers REIT (New York), Pantheon (London), and a global institutional investor has acquired two open-air retail centers in Bucks County for a combined $28.9 million. The group purchased Goodnoe’s Corner in Newtown for $15.38 million and Village Center in Bensalem for $13.55 million. The sale was announced in March, with… Read more »
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,… Read more »
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… Read more »
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… Read more »
