Center City’s retail corridors continue to shift as new businesses arrive and pedestrian activity rebounds. The Center City District 2025 Retail Report highlights 130 new openings over the past year. These businesses span dining, retail and service uses from Vine Street to South Street. The openings arrive as downtown foot traffic improves. Core Center City,… 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 »
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 »
