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 »
A South Philadelphia industrial building is slated for demolition to make way for a proposed shopping center. Under plans filed with the city, 16 Snyder Ave. will be razed and replaced with six detached structures for retail tenants including Lidl, Shake Shack, Raising Cane’s Chicken Fingers, Advanced Auto Parts and Chase Bank. The industrial building,… Read more »
The Airport Square shopping center in Montgomeryville has been sold for $82.5 million, according to a source familiar with the deal, becoming the latest retail property in the area to change hands over the last few months. The 298,719-square-foot retail center at 801 Bethlehem Pike was bought by a fund advised by Wafra Inc., a… Read more »
A retail property that was known for six decades as the Cheltenham Square Mall and later redeveloped into Greenleaf at Cheltenham has sold for $69.5 million. Paramount Realty of Lakewood, New Jersey, bought the 400,851-square-foot center at 2385 Cheltenham Ave., adding to the real estate company’s growing portfolio of retail properties in the Philadelphia area…. Read more »
At Home, a Plano, Texas, retail chain that sells furniture and home décor, has signed an 85,985-square-foot lease at the Promenade at Granite Run. With the addition of At Home and some smaller pending deals, the 877,294 square feet of retail space at the property is 92% occupied, according to BET Investments Inc., which owns… Read more »
Eagle Plaza and Upland Square, two shopping centers at opposite ends of the Philadelphia region, have sold for a combined $114.7 million, continuing a trend of investors gravitating toward grocery-anchored retail properties. A Singaporean real estate firm invests in grocery-anchored retail, paid $85.7 million for Upland Square, a 400,674-square-foot center at 180 Upland Square Drive… Read more »
Reading Terminal Market is eyeing a fall 2022 completion for a long-awaited “festival street” that will leverage outdoor space in front of one of Philadelphia’s most popular attractions. Dubbed by Reading Terminal and city officials as a “transformation project,” the overhaul of the 1100 Filbert Street will add outdoor dining space, pop-up retail kiosks and… Read more »
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 »
