Despite concerns of a retail apocalypse over the past decade from the threat of online shopping, which was heightened during the pandemic, recent leasing performance on the part of Philadelphia retailers tells another story. Retail space listed on the market in the Philadelphia region is now at 18.7 million square feet — 20% below the… Read more »
PREIT said Thursday it’s still looking to sell Exton Square Mall, and now Plymouth Meeting Mall, the next move in its saga to generate cash with a pivotal loan deadline looming. The Business Journal reported Exton Square Mall was under agreement last spring to sell to Brandywine Realty Trust for $28.8 million, but PREIT revealed the deal… Read more »
Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 6741 Essington Ave in Philadelphia, Pennsylvania. The Philly property is available for sale, priced at $899,000. The property is +/- 4,182 square-feet and is zoned I-2. Features of 6741 Essington Ave in… Read more »
David’s Bridal is laying off more than 9,000 workers, including many in the Philadelphia region, and the company may be sold. The Conshohocken-based wedding gown chain said in a notice to the Pennsylvania Department of Labor and Industry that it would be laying off 9,236 people across the United States. A specific number for Pennsylvania… Read more »
A national luxury mattress retailer is coming to Center City. Saatva, based in New York, will debut its ninth retail viewing room at 1712 Walnut St. in Rittenhouse Square on Feb. 13. The location was previously home to a Wells Fargo Bank branch. The e-commerce brand, founded in 2010, sells mattresses, bedding and other bedroom… Read more »
Despite a continued drop in office workers compared to pre-pandemic levels, retail in Philadelphia made strides in 2022. As of September, 80.5% of retail storefronts were occupied within the Center City District. That put 2022 on pace to become the second consecutive year of net positive openings, according to the district. It also means occupancy… Read more »
The Marshalls at 1044 Market St. is closing, leaving another empty storefront along an increasingly vacant stretch in the heart of Market East. The department store will shutter on January 14, according to a spokesperson for TJX, the chain’s parent company. The nearby T.J. Maxx at 1130 Market St., also a part of TJX brands,… Read more »
With the holiday season looming, Philadelphia shoppers flocking to Center City’s retail corridors will see some new store fronts along them. Walnut and Chestnut Streets continue to be a hotbed for new retail outposts, with a number of new fashion brands set to take space along the two streets. There’s also a few spots that… Read more »
The Habit Burger Grill is looking to open more franchise locations in Greater Philadelphia as part of the Southern California chain’s nationwide expansion plan. The company said it aims to reach multi-unit development agreements with franchisees who have a track record of successfully operating restaurants. John Phillips, chief global partnerships officer for the Habit Burger… Read more »
Wawa is closing two Center City stores, citing “continued safety and security challenges and business factors.” The Delaware County-based company will shutter its stores at 12th and Market streets and 19th and Market streets over the next few weeks. The announcement comes a day after the Business Journal reported that Wawa is “seriously considering” taking Philadelphia out… Read more »
