Philly Retail Space

Philly Retail SpaceWolf Commercial Real Estate is a premier Philadelphia commercial real estate broker that represents Philly retail space for lease and sale.

We are experts in the Philadelphia retail space market, with a team of seasoned and knowledgeable real estate advisors ready to help you achieve your real estate goals. At Wolf Commercial Real Estate, we go well beyond simply handling property transactions. As an unparalleled Philadelphia commercial real estate broker, we are a strategic partner whose number-one priority is our client’s long-term growth and success in the Philadelphia retail space market.

Retail businesses looking to buy or lease retail space in Philly can be assured that the professionals at our Philadelphia commercial real estate brokerage firm have the expertise to help you find the Philly retail space that best suits your needs. At Wolf Commercial Real Estate, we make certain that the sale or lease terms for your new Philadelphia retail space work to advance your commercial real estate goals. We’re the Philadelphia commercial real estate broker that is with you from the beginning of the transaction to the end, making the transition to your new retail space in Philly smooth and seamless.

Do You Own Philly Retail Space?

Retail property owners looking to sell or lease retail space in Philadelphia will appreciate the defined marketing strategy that the team at our Philadelphia commercial real estate brokerage firm creates and customizes for each property and sub-market. This process works to effectively and efficiently match buyers and tenants with retail space in Philly.

Retail space in Philadelphia is aggressively priced, and market trends show that the retail business in the region is poised for a massive rebound. For more information, please contact the team at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate brokerage firm.

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Post Brothers Underway on 1,144-Unit Multifamily Project in Philadelphia

PHILADELPHIA — Locally based multifamily developer Post Brothers is underway on construction of Piazza Terminal, a three-building, 1,144-unit multifamily project in the Northern Liberties neighborhood of Philadelphia.

The transit-oriented development, which is slated for completion in December 2022, will also include retail and open green space. Piazza Terminal will offer amenities such as a fitness center and a dog park. BKV Group is the project architect, and Bohler is the civil engineer.

*Article courtesy of REBusinessOnline

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Amazon Confirms Plans for Bucks County Grocery Store as other East Coast Locations Prepare to Open

Amazon Fresh

Amazon’s plans to open grocery stores in the Philadelphia region have been rumored for nearly a year, and the tech giant has now confirmed at least one of those locations will be in Warrington Township, Bucks County.

The company revealed this week that it will open its first grocery stores on the East Coast in the near future, beginning with a pair of locations in Washington, D.C.’s Logan Circle and Northern Virginia’s Franconia area. Amazon already has begun hiring for those locations.

Amazon also confirmed two other stores, the one in Warrington and another in Chevy Chase, Maryland, CNBC reported.

The Warrington location is expected to open in the Creekview Center at 425 Easton Road, replacing a former Giant supermarket. The shopping center also has a Target and a Lowe’s.

Warrington Township Board of Supervisors chair Fred Gaines told the Doylestown Patch the Amazon grocery store has been “one of the worst kept secrets in town,” but certain details remain to be figured out.

Amazon has not yet publicly said whether any of the four upcoming stores will be Amazon Fresh stores. The Fresh brand debuted last September in Los Angeles and has since expanded to 11 total locations in Southern California and the Chicago suburbs.

According to WTOP News in Washington, D.C., the Logan Circle location will be an Amazon Fresh and the Franconia location will be an Amazon Go, the smaller-format convenience store that has locations in Seattle and Redmond, Washington.

Amazon Fresh locations are known for their tech-enabled features, including smart Dash Carts that enable customers to bypass the checkout line. The company is currently testing a “Just Walk Out” option at one of its Illinois stores. The technology uses a combination of computer vision algorithms and sensor fusion to identify items shoppers put in their carts. Sensors in the Amazon Dash Cart lane process payments using the credit card on a shopper’s Amazon account.

In contrast to Amazon’s Whole Foods brand, Amazon Fresh appeals more to middle class customers and will emphasize speedier fulfillment of online orders, according to Morgan Stanley analysts. A section of the store also is dedicated for pick-up and return of Prime packages.

Last month, Bloomberg reported that Amazon had plans for at least 28 more Fresh locations in addition to the 11 that currently exist. The company reportedly hopes to challenge established supermarket chains.

Two other Amazon grocery stores have been rumored in the Philadelphia area over the past year, including a location at a project planned in Northern Liberties and in Bensalem, Bucks County, where the company signed a lease last summer for a warehouse fulfillment center.

A timeline for the opening of the Warrington location remains to be determined.

*Article courtesy of Philly Voice

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Topgolf Project to Get Underway in Northeast Philadelphia, With King of Prussia to Follow

The development of a new Topgolf in Northeast Philadelphia is expected to begin April 19 and another facility in King of Prussia is anticipated to get underway this summer.

The Topgolf in Northeast Philadelphia will be constructed on 27 acres at the former Nabisco and Mondelēz International factory at 12000 Roosevelt Blvd. The King of Prussia facility will rise at the former American Baptist Churches USA headquarters at 588 N. Gulph Road. That property totals 48.5 acres.

Topgolf as an entertainment concept for families and corporate gatherings was popular before the pandemic and excelled during the coronavirus. The popularity of golf has grown since it provided an outdoor, socially distanced activity.

Each Topgolf has three stories, totals 68,000 square feet and costs about $35 million to build out. The facilities involve extensive technology and electronic systems for ball collection systems.

Provco Group, a Villanova real estate company, sold the Northeast Philadelphia property to Topgolf right before the pandemic in March 2020 with the intention of starting the project soon thereafter. “Covid set us back 12 months,” said Michael Cooley, vice president at Provco. “This time last year we were getting ready to deliver the pad at the Nabisco property and they put everything on hold.”

Provco completed about $2 million of road improvements in preparation for the project including widening roads, adding signalization and putting in a new turn lane.

As part of the redevelopment of the former Nabisco site, Provco also developed a Wawa and an additional 40,000 square feet of retail space. The Wawa was completed two years ago and leasing is underway for the remainder of the space. A Chick-fil-A is also part of the development.

In King of Prussia, Provco purchased the former American Baptist property early March 2020 for $24 million, according to the Montgomery Country property records. Again, the pandemic set that project back by 12 months, Cooley said.

“We’re going to pick up where we left off,” he said. “We have finalized the agreement with Topgolf, have all of the approvals and hope to get that project started this summer.”

Callaway Golf Co. (NYSE: ELY) entered into a deal in October to acquire Dallas-based Topgolf Entertainment Group, Callaway. The transaction closed March 12.

Callaway of Carlsbad, California, is a leader in the global golf equipment market that already had a 14% ownership stake in Topgolf beginning in 2006. Under terms of the final deal, Callaway issued approximately 90 million shares of its common stock to the shareholders of Topgolf.

The deal also has Callaway assuming Topgolf’s net debt, which is estimated to be $555 million at closing, resulting in an estimated value for Topgolf of approximately $2.5 billion. Topgolf generated roughly $1.1 billion in revenue in 2019.

The combination of TopGolf with Callaway will create a company with pro forma 2019 revenue of nearly $2.8 billion.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Giant CEO on New Flagship Center City Store: ‘The Culmination of Everything We Dreamed’

Giant Co. opened its new $27 million, 65,000-square-foot flagship store at Riverwalk, a newly developed apartment complex fronting the Schuylkill River on North 23rd Street in Center City to a crowd of eager and curious shoppers.

For Giant Co., a Carlisle-based company, the two-story location is the culmination of exploring other respected grocers to gather ideas and extensive research into new approaches to operations, layout and design. For Philadelphia, it underscores how far the city has come particularly over the last two decades.

“When I started in the real estate business 40 years ago, this site was available for development,” said Ron Caplan, CEO of PMC Property Group, which developed Riverwalk. “They said it would never get developed and the challenge was how to bring life to a part of the city that has never seen development? This site hasn’t seen a ratable in 150 years.”

Development ideas, some grandiose, have come and gone for the stretch of land totaling roughly four acres that had served surface parking for decades. None came to fruition.

But, the changes that have taken place in the city — its population growth, addition of new apartment buildings, pre-pandemic vibrancy and shift westward — along with historically low interest rates and the 10-year tax abatement all conspired to finally make the location where Riverwalk is being developed viable.

“If you don’t have all of the pieces, it’s hard to make it work,” Caplan said. “It’s all timing.”

Caplan emphasized that without the 10-year tax abatement, Riverwalk wouldn’t have happened. “People are quick to criticize the tax abatement as a subsidy,” he said. “It’s not a subsidy. It’s an economic driver.”

As currently written, the abatement gives developers of new construction a break on property taxes for 10 years. That is scheduled to change beginning in 2022 and only provide for the full abatement for the first year of a development and then would be reduced by 10% each subsequent year until the end of the tenth year when it would sunset.

All of the elements Caplan cited also made Giant “a very important piece of the economic model” that made the two-building apartment complex financially work. “All of the pieces came together,” he said.

Riverwalk’s first building, which has 291 apartments at 60 N. 23rd St., is completed and where Giant is located. A second tower with 321 apartments is under construction next door at 2301 John F. Kennedy Blvd.

“This is the culmination of everything we dreamed,” Giant Co. CEO Nicholas Bertram said as he looked across the second floor of the store, which is its main grocery space.

The company had been on an “innovation journey” over the last couple of years, Bertram said. Teams traveled to other grocery stores across the country such as H-E-B, Mariano’s and Publix and the Netherlands, where Giant’s parent company, Ahold Delhaize, is located to gather ideas to incorporate into the new Philadelphia store. A gelato station was borrowed from Mariano’s. An outdoor dining area was taken from H-E-B.

The deck has views of Comcast Technology Center at one end and Cira Centre at the other, a fire pit and outfitted with speakers to accommodate bands and live entertainment.

“I see young couples, kids with their families,” Bertram said. “It’s so beautiful. I can see someone being proposed here.”

Industrial engineers were brought in to determine how some of those ideas could be implemented in the shopping space while keeping merchandise at the forefront and the store efficiently operational. An example of that is the placement of a food hall along one side of the store.

This is the fourth store Giant has opened in Philadelphia. It has three of its smaller Heirloom urban-focused concepts in Center City. This Giant is expected to be a bigger draw than Heirloom and be a shopping destination. “It will be a high-volume store,” Bertram said.

While there’s an idea how much in sales the store will do those figures aren’t exact because of the pandemic, he said.

It also serves as an amenity to those renting an apartment at Riverwalk. A dedicated elevator provides residents direct access to the store.

For the company, its opening is significant in that it does incorporate so many new ideas that will be used in future stores. “It means our growth strategy is working and giving us the freedom to keep on growing,” Bertram said. He anticipates opening additional stores in Philadelphia but how many has yet to be determined.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Suburban Philadelphia Shopping Center Portfolio Set to Trade for Roughly $115M

An international real estate investment firm that’s based in Cyprus and trades on the Tel Aviv Stock Exchange, is ramping up its Philadelphia-area presence and is poised to buy six grocery-anchored shopping centers for an estimated $115 million, according to sources familiar with the transaction.

The company has under agreement properties put up for sale last November.

Before the onset of the pandemic, the company was snapping up Philadelphia-area retail properties that had grocery stores as anchor tenants. In February 2020, it paid $25 million for Cross Roads Plaza, a nearly 100,000-square-foot center that has ShopRite as a tenant at 1520 Route 38 on the border of Hainesport and Lumberton townships in Burlington County, New Jersey.

A month earlier in January 2020,the firm bought Centre Square Commons, an 88,598-square-foot Aldi-anchored shopping center at routes 202 and 73 in Blue Bell, for $40 million. The company also owns the North End Center, anchored by Redners, in Pottstown and three similar retail properties in Pennsylvania, including two in Reading and one in Lebanon.

The company will now expand its presence with the Brandolini purchase, which includes the Lionville Shopping Center, Hamilton Square, Spring Towne Shopping Center, Dreshertown Plaza, Marketplace at Westtown and Limerick Crossing. The grocers are Giant, Acme, Aldi and George’s, which is a well-known, family-owned store in Dresher.

The centers combined total 741,902 square feet and the average sale per square foot for the grocers total $589. The portfolio is 90% leased.

Grocery-anchored shopping centers were a popular investment prior to the pandemic. Investors sought out retail properties somewhat immune to the threat of e-commerce, which has hollowed out malls and Main Streets and prompted dozens of companies to file bankruptcy. The antidote appeared to be centers with grocery stores and other retailers that provide services not as easily obtained over the internet.

These retail properties ended up becoming even more desirable during the coronavirus because the stores remained open during mandatory shutdowns and were considered essential.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Grocery Outlet Bargain Market Opens Store in East Norriton, Plans Additional Locations

Grocery Outlet Bargain Market has opened in East Norriton, becoming the newest supermarket to enter the Philadelphia area and adds to the growing competition throughout the region.

The Emeryville, California, chain, which is part of Grocery Outlet Holding Corp., joins other discount grocers that have expanded in the region including Lidl and Aldi in addition to other chains that have increased their presence such as Giant, Acme and Sprouts Farmers Markets.

Grocery Outlet is expanding throughout the mid-Atlantic, said Heather Mayo, chief operations and merchandising office for the Eastern division. “We think there is a ton of opportunity,” she said. “It’s limitless the number of stores we will open. There will be many more to come.”

The grocer has more than 375 locations throughout California, Idaho, Nevada, Oregon, Pennsylvania, and Washington. Of that total, 18 stores are along the East Coast and includes 13 locations that were originally Amelia’s Grocery Outlet, a Pennsylvania-based chain purchased by Grocery Outlet and rebranded.

The store in East Norriton at 2917 Swede Road totals 23,000 square feet of which 15,000 is the sales floor. A Genuardi’s had once operated from the space.

“It made sense for us,” Mayo said. “We love the location, it was an underserved market and know it will work extremely.”

Products at the store sell for 40% to 50% below brands. The company also buys surplus products from manufacturers to stock stores.

Like a franchise, Grocery Outlets (NASDAQ: GO) are owned independently and the East Norriton store is owned and operated by David Tress, who had been in the restaurant industry.

“Unfortunately with the pandemic and current landscape, the grocery business seemed like an appropriate move and a little more family friendly,” Tress said.

The store plans to employ 28 people.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Chase Opening 4 More Philadelphia-Area Branches, Closing in on Goal of 50

JPMorgan Chase & Co. opened its 34th local branch in Newtown Square on Tuesday and has three more planned for later in the month. That will bring the New York banking giant to 37 Philadelphia-area locations as it nears the halfway point of a five-year plan to open 50 sites in the region.

The bank has also received approval for 11 other locations, including two this week, according to the Office of the Comptroller of the Currency. The bank said it expects to open a total of 13 this year, which would bring it to 46 branches in three years.

Here are the planned March openings:

    • 3604 West Chester Pike in Newtown Square – opened March 2
    • 2900 Island Ave. Suite 2942 (Penrose Plaza) in South Philadelphia – opening March 23
    • 396 W. Lancaster Ave. in Haverford – opening March 23
    • 220 E. Baltimore Ave. in Media – opening March 30

The Penrose Plaza location is considered a low- to moderate-income neighborhood, bringing Chase’s total branches in such areas to 10, or 27% of existing locations. When CEO Jamie Dimon visited Philadelphia in September 2018 to announce plansto enter the local retail banking market, Chase committed to locating 20% in LMI neighborhoods. In 2019, Chase upped the stakes by saying it would have 30% of branches in LMI neighborhoods.

The new openings will also give Chase seven locations in Delaware, six in South Jersey and 24 in southeastern Pennsylvania, which include 13 in Philadelphia, four each in Montgomery and Delaware counties and three in Chester County.

Chase has not opened any branches in Bucks County yet but that should change soon, as it has received regulatory approval for sites in Southampton, Doylestown, Warminster and Warrington. Other locations in the works include Port Richmond in Philadelphia; Norristown and Ambler in Montgomery County; Willingboro, Moorestown and Woodbury in South Jersey; and Wilmington in Delaware.

Asked if Chase might wind up exceeding its 50-branch goal since it has moved so quickly, a spokeswoman said she couldn’t speculate at this point.

According to annual FDIC deposit data as of June 30, 2020, Chase had yet to make much of a dent in the retail banking competitive landscape. It had 23 branches opened in the region with a combined $553 million in deposits — good enough for just 31st out of 107 banks. That’s only $24 million in deposits per branch, less than a quarter of the $100 million that is viewed as a strong number in the banking industry. As a basis of comparison, its branches outside this region average $343 million in deposits per branch. Chase should improve its local numbers as the branches mature but by how much will be telling.

If Chase averaged $100 million in deposits per branches when it reaches 50 branches, that would equal a total of $5 billion in local deposits. That would be good enough for 10th in the region behind Wells Fargo Bank, TD Bank, PNC Bank, Bank of America, Citizens Bank, WSFS Bank, Santander Bank, M&T Bank and Truist Bank. And if it reached its national average of $343 million deposits per branch, it would move up to sixth locally with more than $17 billion in deposits.

Chase has also met another goal of hiring 300 branch employees. The bank already exceeded that figure late last year, as a spokeswoman said the bank was being conservative with its original estimate but it usually hires a minimum of between five and seven employees per branch and spends several months training them before a branch opens.

Chase got off to a fast start in the Philadelphia region, opening 23 local branches in just 15 months before the coronavirus pandemic caused it to hit the pause button in March 2020. It began ramping back up expansion plans in July.

The pandemic has accelerated plans by many banks to consolidate their branch footprints as customers become even more comfortable with online and mobile banking options. In the Philadelphia region, most large banks are focused on trimming their physical footprints. Wells Fargo closed 329 last year and has plans to shutter about 250 more this year. TD Bank recently filed to close 81 of its 1,223 branches, including 11 in this region. PNC closed 160 branches last year and plans to close at least another 120 this year. Citizens Bank closed 51 last year and 40 already this year.

While Chase is growing in new markets such as Philadelphia, Boston, Washington, D.C., and Pittsburgh, it has been pruning its footprint in its more established markets, cutting 258 branches last year and 17 so far in 2021.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Philly Retail Space for Lease in the Italian Market Neighborhood

Wolf Commercial Real Estate, a Philly commercial real estate brokerage firm that specializes in Philly commercial real estate listings and services, now has available Philly retail space for lease at 925-927 South Ninth Street Philadelphia PA.

This well-located Philly retail space has 2,388 square feet available at 925-927 South Ninth Street Philadelphia PA. This Philly retail space for lease in in the heart of the South Philadelphia Italian Market neighborhood and this Philly retail space is available for immediate occupancy.

The asking lease price for this Philly retail space at 925-927 South Ninth Street Philadelphia PA is $28.00 sf NNN.  This retail space in Philly is available through Wolf Commercial Real Estate, a leading Philly commercial real estate broker that specializes in Philly commercial real estate listings and services.

Both the first floor and the basement are available for lease at this Philly retail space for lease at 925-927 South Ninth Street Philadelphia PA. There also is highly visible signage at this Philly retail space for lease.

Many well-known South Philadelphia businesses surrounding this Philly retail space for lease available through Wolf Commercial Real Estate, a leading Philly commercial real estate broker. Among the retail businesses near this retail space in Philly at 925-927 South Ninth Street Philadelphia PA are DiBruno’ Market, Claudio’s Specialty Foods, and the Ninth Street Bottle Shop.

In addition, this Philly retail space for lease at 925-927 South Ninth Street Philadelphia PA sits diagonally across the intersection of South Ninth Street and Montrose Street from Piazza DiBruno, an outdoor plaza with tables and umbrellas for al fresco dining. There also are numerous gourmet shops near this Philly retail space.

For more information about this Philly retail space for lease, or about any other Philly commercial properties for sale or lease, please contact Phil Costa (215-799-6195; phil.costa@wolfcre.com) or Ryan Barikian (856-857-6307; ryan.barikian@wolfcre.com) at Wolf Commercial Real Estate, the foremost Philly commercial real estate broker.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philly commercial real estate broker that provides a full range of Philly commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings, and other Philly commercial properties for buyers, tenants, investors, and sellers. Please visit our websites for a full listing of Philly commercial properties for sale or lease through our Philly commercial real estate brokerage firm.

Giant Opening Two-Level, Flagship Supermarket in Logan Square in March

The Giant Company’s ongoing expansion into Philadelphia will make its biggest leap yet next month with the debut of a flagship, two-level market in Logan Square.

The project, announced last year, is the centerpiece of the new Riverwalk mixed-used development. The 65,000-square-foot store will be located in a 25-story residential building at 60 N. 23rd St., just east of the Schuylkill River.

“Philadelphia’s grocery scene is experiencing a major renaissance and The Giant Company has been at the forefront, introducing new formats, opening new stores and expanding grocery delivery services,” said Giant president Nicholas Bertram. “Our Riverwalk store celebrates this transformation, offering an elevated omnichannel grocery experience unlike anything Philadelphia has ever seen.”

The store is set to open on March 19 with a community grand opening ceremony where Giant will announce a round of donations to nonprofits that benefit families in both the immediate Logan Square neighborhood and greater Philadelphia.

A ground level parking garage will offer access to the store’s lobby, which includes a full-size Starbucks, a Giant Direct pickup station for online orders and walls adorned with the work of local artists.

Customers can use an elevator, escalator or stairs to access the market on the second floor. Residents of the building will have access using a private elevator, while guests can use a cartalater to transport their shopping carts back to ground level.

A food hall inside the market will feature options from Mission Taqueria, Saladworks and Hissho Sushi, along with made-to-order sandwiches, flatbread pizzas, smoked meats, hot foods and gelato. A beer garden with a self-serve tap wall will offer more than 40 craft beers, wines, hard seltzer, cider and kombucha on tap.

The food hall overlooks the Schuylkill River and 30th Street Station, with an outdoor terrace that includes lounge-style furniture and fire pits.

In addition to full-service meat, seafood and deli departments, the store will feature Giant’s largest plant-based section to date, with a variety of Impossible and Beyond products, vegan cheeses, ice creams and other desserts.

 

Locally sourced products at the store will include a selection from One Village Coffee, Claudio’s, High Street Philly, Asher’s Chocolates and Isgro Pastries.

Jessica Fischer, a 22-year veteran at the company, will be the manager of the Riverwalk store.

“Having been with the company for more than 20 years, I can confidently say that in everything we do, we aspire to deliver a grocery experience that inspires and excites our customers and to be a community partner that lifts up the families and neighborhoods we serve in every sense of the word – Riverwalk will be no different,” said Fischer.

The opening in Logan Square comes on the heels of Giant’s announcement this month that it will open another 67,000-square-foot market later this year at Cottman and Bustleton avenues in Northeast Philadelphia.

Giant has rapidly expanded in Philadelphia over the past few years, adding small-format Giant Heirloom stores in South Philadelphia, Northern Liberties and University City. The company has an existing supermarket on Grant Avenue in Northeast Philadelphia, a few miles north of the planned new location.

The company also is working on completing an e-commerce fulfillment center slated to open in November on Island Avenue near the Philadelphia International Airport.

The Riverwalk store is expected to employ 220 team members upon opening. Those interested in joining the team are encouraged to look online for hiring opportunities.

Bertram touted the Riverwalk store, designed by Ohio-based firm Chute Gerdeman, as a forward-thinking grocery model suited for city living.

“Expertly designed to meet the needs of urban dwellers, our Riverwalk store is the perfect blend of modern sophistication and surprise, and of course, pays homage to the city’s fantastic food scene,” Bertram said. “We can’t wait for opening day and to finally let the community discover what we’ve created for them – a one stop destination for all things food. It’s the sum of the team’s very best work and is a tangible symbol of the Giant Company’s continued focus on omnichannel growth, innovation and above all else, families and community.”

*Article courtesy of Philly Voice

For more information about Philadelphia retail space for sale or lease in Philadelphia or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Giant’s Flagship Center City Store Sets March Opening, Hiring 220

In Philadelphia, several new developments including South Quarter Crossing, Sharswood Ridge at 2000 Ridge Ave., and a proposed development at 1100 Wharton St. will be anchored by grocery stores. They will join 1300 Fairmount, where an Aldi opened last year, and Rodin Square where Whole Foods has a location. Among the pioneers in this regard is Trader Joe’s, which opened in 2002 at 2121 Market St.

Grocery stores also anchor suburban mixed-use projects. In King of Prussia, Wegmans anchored the King of Prussia Town Center at the Village at Valley Forge, Kimberton Whole Foods is part of East Side Flats in Malvern and, most recently, Sprouts opened at the Promenade at Upper Dublin.

Alternatively, municipalities want ground-floor retail to be activated and, outside of restaurants, grocery stores can serve that purpose.

The combination of these factors has led developers to design spaces in new construction projects that can accommodate a sizable footprint required by a grocery store.

While supermarket-anchored retail real estate has always been a cornerstone of commercial properties, investors were especially drawn to them before the pandemic because they were considered internet proof. Retail centers that have a supermarket as the main attraction have been among the few areas of real estate that have thrived during the pandemic.

azLast year also saw the expansion of several grocery chains throughout the region including in Philadelphia. In 2014, there were seven grocery stores in an area stretching from Spring Garden Street to Washington Avenue and, since then, 13 additional stores have opened and another 10 are either under construction or proposed. Giant, Lidl, Sprouts and Acme were among those to open stores or announce new ones. A new entrant to the market this year is expected to be Amazon.

The new Giant at Riverwalk will be the company’s fifth location to open in Philadelphia and, including its Island Avenue fulfillment center, brings the company’s total investment in the city to more than $106 million. The company is planning to hire 220 people to work in the new store.

“Philadelphia’s grocery scene is experiencing a major renaissance and The Giant Co. has been at the forefront, introducing new formats, opening new stores, and expanding grocery delivery services,” said Nicholas Bertram, president of Giant in a statement. “Our Riverwalk store celebrates this transformation, offering an elevated omnichannel grocery experience unlike anything Philadelphia has ever seen.”

The store was designed by Chute Gerdeman, retail design and branding firm based in Columbus, Ohio. Its design sought to incorporate elements that draw from Giant’s heritage as well as its Heirloom Market format, with wood elements as well as Giant’s red and black signature colors.

It will have a food hall, which is a new concept for Giant to incorporate into a store. The food hall will feature products from Mission Taqueria, a Philadelphia-based purveyor of Mexican food, soup and salads from Conshohocken-based Saladworks, and sushi from Hissho Sushi.

The store will also have an outdoor terrace with seating and dining areas as well as sell beer and wine. The store will also have a beer garden with a self-serve tap wall offering more than 40 craft beers, wines, hard seltzer, cider, and kombucha on tap. It will also carry other local items from One Village Coffee, Claudio’s, High Street on Market, Asher’s Chocolates, and Isgro Pastries.

The Giant will have a ground level parking garage with direct access to the store’s lobby.

The company named Jessica Fischer, a 22-year veteran of the company, as manager of the Riverwalk store. Fischer had most recently worked at the company’s University City Heirloom Market.

*Article courtesy of Philadelphia Business Journal

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