The renowned Canadian coffee chain, Tim Hortons, has initiated its expansion into Greater Philadelphia, debuting a new location in South Jersey and securing a multi-unit development deal for Delaware as part of its quest for additional franchisees to drive regional growth. Their fifth New Jersey outlet, situated off Route 130 in Cinnaminson, opened on Nov…. Read more »
Facing a significant debt load of over $1 billion, PREIT has made the decision to file for Chapter 11 bankruptcy protection for the second time in just a little over three years. The regional mall owner took this voluntary step by filing in the U.S. Bankruptcy Court for the District of Delaware, having already established… Read more »
Philadelphia-headquartered Rite Aid persists in its endeavor to sell off store leases and properties amid Chapter 11 bankruptcy proceedings, expanding its offerings to include seven additional locations in the Philadelphia area, encompassing two stores situated on Broad Street. As of the latest update released on Tuesday, Rite Aid currently lists seven retail leases and six… Read more »
A chicken wing-focused restaurant chain from North Carolina has selected Philadelphia as a key market for its expansion efforts, marking its return to growth plans after nearly four years of pandemic-induced delays in the region. East Coast Wings + Grill is targeting the opening of at least five new locations in and around Philadelphia within… Read more »
Wegmans Food Markets has announced an anticipated early 2024 launch for its second store in Bucks County, introducing enhancements to its standard offerings alongside the introduction of a “sushi pod.” Scheduled for a March 20 opening, the grocery chain will unveil its Yardley store situated within the Prickett Preserve shopping center, currently under development at… Read more »
In less than five years since inaugurating its initial retail branch in the Philadelphia region, Chase Bank has achieved its target of establishing 50 locations here by 2024. At the recent “Banking on Philadelphia” event at City Winery, Jennifer Roberts, CEO of Chase Consumer Banking, announced the anticipation of doubling this number within the next… Read more »
Fast-Casual Chicken Wing Chain Plans Expansion with 20 New Locations in Greater Philadelphia. Wing Zone Hot Chicken and Wings, is a Las Vegas-based eatery, that has set ambitious growth goals for Greater Philadelphia. They are actively seeking franchisees interested in multi-unit development agreements to open a minimum of 20 new locations in and around the… Read more »
The shuttered Marshalls store at 10th and Market streets will be filled by Ross Dress for Less, another discount retailer currently with space on Market Street. The Marshalls at 1044 Market St. closed in mid-January, leaving yet another vacancy on Market East across from the Fashion District. Now, Ross will relocate to the 26,000-square-foot space, according… Read more »
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 »
WCRE is proud to have exclusively represented The Kibitz Room, in the lease of a 3,750 square-foot retail storefront being constructed at PA-309 and Witchwood Drive, Montgomery Township, Pennsylvania, joining Wawa, Citadel Credit Union and Salvatore Outdoor. The Kibitz Room is operated by the renowned Owners of the popular Kibitz Room in Cherry Hill, NJ and… Read more »
