The select top lease signed in the fourth quarter 2013 in the Philly retail space market was for Wishing Well Plaza in the North Burlington County submarket, where ShopRite leased 90,000 square feet, according to a market trend report from the CoStar Group. Fameco Real Estate represented the landlord for this significant deal in the Philadelphia retail space market, the report said.
CoStar’s Fourth Quarter 2013 Market Report also said other notable leases for retail space in Philly included:
— Giant Food’s lease of Philly retail space at Ephrata Marketplace in the LancasterCounty submarket. Colliers International represented the landlord in this deal for 66,472 square feet of Philadelphia retail space.
— A lease executed by LA Fitness for 52,248 square feet of retail space in Philly at Collegetown Shopping Center in New Jersey. Brixmor Property Group represented the landlord in this deal for retail space in Philadelphia’s Gloucester County submarket.
— Philly Service Center’s lease of Philadelphia retail space at 6729 Essington Avenue in the South Philadelphia submarket. Binswanger represented the landlord in this direct deal for 39,000 square feet in the Philly retail space market.
— Habitat for Humanity’s 25,690-square-foot lease for retail space in Philly at 530 Route 38 East in the North Burlington County submarket. The landlord in this deal for retail space in Philadelphia was represented by NAI Mertz.
In comparison to the trends in the Philadelphia retail space market, the U.S. national retail market’s select largest new lease signings in the fourth quarter 2013 included a 230,000-square-foot deal by Wal-Mart in the Hampton Roads market; a 151,128-square-foot lease by Mariano’s Fresh Market in the Chicago market; and a 78,962-square-foot lease by Food 4 Less in the Los Angeles Market, the report said. In addition, in the third quarter 2013, BJ’s Wholesale Club signed a lease for 240,448 square feet of retail space in the Boston market, Costar said.
For more information about retail space in Philadelphia or any Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (email@example.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philadelphia retail space.
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