Several weeks following the initial presentation of a bankruptcy plan by Rite Aid, which included the closure of numerous stores, the Philadelphia-based pharmacy chain officially filed for Chapter 11 bankruptcy protection on Sunday. This development was largely anticipated. Rite Aid, along with its counterparts such as CVS and Walgreens, has confronted shared challenges in recent… Read more »
A Boothwyn Shopping Center Anchored by Walmart and Acme Sells for $26 Million. Larkin’s Corner, a prominent shopping center in Boothwyn featuring anchor stores like Walmart and Acme, has been successfully sold for $26 million, as reported by an industry insider. U & Me Enterprises, a private investor hailing from Long Island, New York, completed… Read more »
Five years after Sprouts Farmers Market entered the Philadelphia region, the Phoenix-based grocery chain is expanding its commitment to the area with plans to open at least six more stores in the next two years. Sprouts opened its first local store in 2018 at South Broad and Washington streets in South Philadelphia. Since then, it has opened… Read more »
The Topgolf off Roosevelt Boulevard in Northeast Philadelphia has been listed for sale nearly 18 months after opening. Located at 2140 Byberry Road off Roosevelt Boulevard, the 16.4-acre property and the 68,000-square-foot building are listed on online real estate platform Crexi as “unpriced.” Topgolf’s operations will not be impacted by any potential sale of the… Read more »
A local hospitality group is eyeing the ground-floor space attached to the Hyatt Centric Center City Philadelphia hotel in Rittenhouse Square for its next restaurant, city zoning documents show. A zoning permit issued on Aug. 25 allows for two signs to be erected on the building’s exterior at the corner of Chancellor and 17th streets… Read more »
As Philadelphia’s premier suburban retail districts continue to see strong interest from retailers and corresponding rent growth, retail locations in Center City’s downtown districts have seen average rents decline in the past year. The Market West, Market East and Independence Hall retail districts—all located in Center City—have decreased between -1.5% and -0.9%, falling behind the… Read more »
The founders of a sustainable apparel and coffee company plan to redevelop the 191-year-old Society Hill Hotel building into a “five-star” boutique property with a whiskey bar-themed dining concept. Mike Cangi and Brian Linton are aiming for a January or February opening of the new Society Hill Hotel at 301 Chestnut St. in Old City…. Read more »
The opening of PJW Restaurant Group’s 23rd P.J. Whelihan’s Pub and Restaurant this fall in Conshohocken will mark the fourth location that the group has opened in just over a year, the most it’s ever brought online within a 13-month time span. The P.J. Whelihan’s brand is now the sole focus for expansion for Westmont,… Read more »
As part of Brixmor Property Group’s $50 million redevelopment of the Roosevelt Mall in Northeast Philadelphia, grocery store Sprouts Farmers Market and quick-service restaurants Panda Express and Raising Cane’s Chicken Fingers are planned to open. The 24,000-square-foot Sprouts store is scheduled to open in the first quarter of 2024 while the 2,000-square-foot Panda Express and… Read more »
David’s Bridal is in talks with a potential buyer for some of the company’s assets, a deal that would save thousands of jobs and almost 200 stores across the retailer’s portfolio. The Conshohocken wedding dress retailer confirmed it is in “advanced discussions with an interested bidder.” The bid would save approximately 7,000 employees and nearly… Read more »
