A developer has purchased an historic building at 6th Street and Girard Avenue in Philadelphia for $1.5 million and plans to develop what was originally known as Farmers’ Market House & Hall into a mixed-use complex. The sale of the prominent property at 527-37 Girard Ave. took more than two years to get done —… Read more »
Lamar Cos., a New Jersey real estate company, has paid a bargain price of $60 million to buy the Shops at Valley Square, a 293,550-square-foot mixed-use lifestyle center in Warrington that is 70% occupied. The last time the property traded was in 2016 when a partnership involving Poag Shopping Centers of Memphis, Tennessee, and a real estate… Read more »
Wharton Realty Group has made two retail acquisitions, buying Deptford Landing, a power center in Deptford, New Jersey, and Exeter Commons, a grocery-anchored center in Reading, in separate transactions that settled at roughly $70 million each. The two retail centers were sold by ShopCore Properties, which is a division of Blackstone Group. They properties add… Read more »
Developer Bart Blatstein has decided to shelve a controversial plan for a Super Wawa that would have fronted the Delaware River along South Columbus Boulevard in Philadelphia and will instead build an expanded retail center without the convenience store. “I’m not going to pursue Wawa and the litigation on Delaware Avenue,” Blatstein said in an interview. His… Read more »
A New York investor has paid $5.34 million for 1617 Walnut St., a two-story building in the center of Philadelphia’s High Street retail corridor. The nearly 7,000-square-foot building was put up for sale in late 2019 by a local family who had it in a trust and listed for $7.5 million. The price that it… Read more »
Philadelphia, wistful for pre-pandemic life, began to embrace its current state of affairs last December by adapting with streeteries for outdoor dining and repairing and reopening shops that had been vandalized during civil unrest sparked by the murder of George Floyd. In the year since the residential population and the return of college students helped… Read more »
As supermarket chain Giant continues its expansion in Philadelphia, one of its most anticipated new stores celebrated its grand opening in Center City on Thursday. The Carlisle-based company opened its fourth Giant Heirloom Market at 801 Market St. inside the former home of the Strawbridge & Clothier department store, which had a long run beginning… Read more »
A bank has foreclosed on Montgomery Mall and a $118.78 million judgment has been rendered against the property’s owner, an entity affiliated with Simon Property Group, according to court documents. Wilmington Trust, as trustee for Wells Fargo Commercial Mortgage, filed in early June in the Montgomery County Court of Common Pleas to start foreclosure proceedings… Read more »
Santander Bank has filed to close three more Philadelphia-area branches as part of a broader focus on trimming its retail footprint. The Boston-based bank, a subsidiary of Spain’s Santander Group (NYSE: SAN), filed with the Office of the Comptroller of the Currency to shutter the following three sites on July 7: 95 S. Main St…. Read more »
Family-friendly Hooters spinoff Hoots Wings plans to expand its East Coast presence with 16 locations across Greater Philadelphia. ANZ Hospitality LLC, a Malvern-based hospitality company, aims to open the new franchise locations within 20 miles of Philadelphia by 2026, with the first restaurant expected to open by the end of this year. Hoots Wings is… Read more »
