The Giant Co. will locate one of its grocery stores in a portion of a vacant Sears in Northeast Philadelphia that will undergo a $24 million redevelopment. Giant will occupy about 60,000 square feet of the three-story, 237,151-square-foot property at Great Northeast Plaza at the intersection of Bustleton and Cottman avenues. It is one of… Read more »
Pennsylvania Real Estate Investment Trust will relinquish much of its involvement in Fashion District Philadelphia beginning Jan. 1, leaving its partner in the project, Macerich Cos., to control the operations and make decisions involving the Philadelphia retail center, according to Securities and Exchange Commission documents filed by PREIT. The arrangement arose as part of… Read more »
OceanFirst Bank will open its first retail branch in Pennsylvania after signing a 10-year lease to occupy 2,000 square feet at 1500 Market St. in Center City. The Toms River, New Jersey-based bank has been shopping for a high-profile Center City location to serve as its first branch for more than a year. Susanne Svizeny, the… Read more »
The popular Goose Island Brewhouse is Philadelphia’s Fishtown neighborhood has permanently closed after nearly two-and-a-half years of operation, the latest fallout from the Covid-19 pandemic. The 10,500-square-foot brewpub announced the shuttering late Friday afternoon via its Facebook and Instagram accounts. Goose Island Beer Co. is based in Chicago, and has been owned by Anheuser-Busch InBev… Read more »
Two German markets continue expansion into region German grocery store Lidl is in the midst of a large expansion on the East Coast of the United States. Its latest store opened at 9175 Roosevelt Blvd. in Northeast Philadelphia. Above, a location in Middletown, Delaware. Apair of grocery stores run by German-based companies opened their doors… Read more »
A month after filing for Chapter 11 bankruptcy protection, the U.S. Bankruptcy Court for the District of Delaware approved a pre-packaged restructuring plan for Pennsylvania Real Estate Investment Trust on Monday. The Philadelphia company expects to emerge from bankruptcy in early December, later than its initial expectation to be done with the proceedings by the… Read more »
A partnership has paid $28.75 million for a former Sears in Northeast Philadelphia and has plans to invest another $24 million to redevelop the vacant department store. Sears Holdings Corp. closed the store in April 2018 as part of a move to shutter 100 stores nationwide. The transaction was initiated six months before the onset… Read more »
Aldi, the German-based discount grocery chain, is scheduled to open a long-awaited store at 1300 Fairmount Ave. in Center City early next month. It will join other grocers such as Giant, Acme and Whole Foods that have been expanding in Center City as its population has grown. Amazon is also expected to open a new store at… Read more »
Univest Financial Corp. said it plans to close eight of its 39 retail branches, or 20% of its footprint, as part of an optimization plan that has been accelerated by Covid-19. Since 2015, the Souderton-based parent of Univest Bank has consolidated 15 locations largely in its traditional home base of Bucks and Montgomery counties while… Read more »
ACME Markets, a Philadelphia based company, has opened its newest store at 40th and Walnut (former Fresh Grocer location) this morning. Here are some more details on what the new store includes: A Deli department featuring such meal solutions as sushi, Poke bowls, Asian hot bar, focaccia pizza, BBQ station, and ACME’s first ever Sally… Read more »
