Posts Tagged: Philadelphia commercial real estate brokerage firm

Giant to anchor $24M redevelopment of former Sears in Northeast Philadelphia

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 »

PREIT to Relinquish Primary Control of Fashion District Philadelphia Under Bankruptcy Agreement

  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 »

Goose Island Brewhouse in Fishtown Permanently Closes in Covid-19 Fallout

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 »

Lidl, ALDI Open New Grocery Stores in Philadelphia

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 »

Bankruptcy Court Approves PREIT’s Reorganization Plan

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 »

$52M Redevelopment Planned for Vacant Sears in Philadelphia

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 Readies to Open Long-Awaited Fairmount Avenue Store in Center City

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 »