Content about Philadelphia

March 25, 2014

Cedar Realty Trust has completed the acquisition of Quartermaster Plaza in Philadelphia.

Port Washington, N.Y. — Cedar Realty Trust has completed the acquisition of Quartermaster Plaza in Philadelphia. The 456,000-sq.-ft. grocery-anchored shopping center is 98% occupied and anchored by a BJ’s Wholesale Club.

Cedar acquired the center for $92.3 million, including the assumption of $53.4 million of fixed rate debt. The company expects ultimately to fund deal with proceeds anticipated from asset sales. Pending those sales, Cedar will use it existing credit facility.

March 19, 2014

A new $500 million retail/residential development is reportedly planned for downtown Philadelphia.

Philadelphia – A new $500 million retail/residential development is reportedly planned for downtown Philadelphia. According to the Philadelphia Inquirer, a block of stores located on Market Street between 11th and 12th Street in Philadelphia will be razed or moved to make way for a new complex that will be known as East Market.

March 4, 2014

Remember 2011 and 2012? Back then, the forecasters were saying that the economy would probably be sluggish through 2013. After that, starting in 2014, growth would return.

January 23, 2014

Kmart will shutter two locations in the Philadelphia area this spring, Philadelphia Business Journal said.

New York -- Kmart will shutter two locations in the Philadelphia area this spring, Philadelphia Business Journal said. The locations, at The Gallery and at 900 Orthodox St., will close in late April.

January 23, 2014

Kmart will shutter two locations in the Philadelphia area this spring, Philadelphia Business Journal said.

New York -- Kmart will shutter two locations in the Philadelphia area this spring, Philadelphia Business Journal said. The locations, at The Gallery and at 900 Orthodox St., will close in late April.

January 9, 2014

Franklin Flea’s successful holiday season earned the once-a-week indoor flea market a return booking for April.

Philadelphia — Franklin Flea’s successful holiday season earned the once-a-week indoor flea market a return booking for April.

Starting back in November, Franklin Flea brought local artisans and vendors together in Center City Philadelphia to showcase handmade, repurposed and antique items as well as an assortment of artisan foods.

January 7, 2014

Destination Maternity Corp. is thinking big. The world’s largest retailer of maternity apparel is bullish on its superstore format, with new locations in Paramus, N.J., and Virginia Beach, Va. The Philadelphia-based company has an estimated 35% to 45% share of the U.S. maternity market.

The two new stores vary in size and have different layouts, as well as some merchandising variations. But both are designed as customer-centric, one-stop shopping resources. And both share a common vision.

January 7, 2014

Uniqlo will continue its expansion in the United States by opening five stores this spring/summer, including its first-ever location in the greater Philadelphia metropolitan area.

New York -- Uniqlo will continue its expansion in the United States by opening five stores this spring/summer, including its first-ever location in the greater Philadelphia metropolitan area.
 
The five new Uniqlo stores scheduled to open in spring/summer are:

December 2, 2013

What are retail shopping center developers up to in the vibrant northeastern region of the United States?

All across the Northeast — in which we include Ohio, Maryland, Virginia, Pennsylvania, New Jersey and the traditional northeastern states to the north — developers are renovating, redeveloping, raising rents, welcoming tenants and starting to get back to normal.

October 30, 2013

Bottom Dollar Food will open two new stores on Thursday, Oct. 31, one in the Germantown neighborhood of Philadelphia, and one in Ambler, Pa., bringing the market total for the discount grocery chain to 43 stores.

Salisbury, N.C. -- Bottom Dollar Food will open two new stores on Thursday, Oct. 31, one in the Germantown neighborhood of Philadelphia, and one in Ambler, Pa., bringing the market total for the discount grocery chain to 43 stores.

The two new stores add approximately 100 jobs to the greater Philadelphia economy. With the addition of the two new locations, Bottom Dollar Food now operates 62 stores in New Jersey, Ohio, and Pennsylvania. Each store is approximately 18,000 sq. ft.

October 30, 2013

Bottom Dollar Food will open two new stores on Thursday, Oct. 31, one in the Germantown neighborhood of Philadelphia, and one in Ambler, Pa., bringing the market total for the discount grocery chain to 43 stores.

Salisbury, N.C. -- Bottom Dollar Food will open two new stores on Thursday, Oct. 31, one in the Germantown neighborhood of Philadelphia, and one in Ambler, Pa., bringing the market total for the discount grocery chain to 43 stores.

The two new stores add approximately 100 jobs to the greater Philadelphia economy. With the addition of the two new locations, Bottom Dollar Food now operates 62 stores in New Jersey, Ohio, and Pennsylvania. Each store is approximately 18,000 sq. ft.

October 30, 2013

RadioShack Corp. has opened a new concept store in Detroit, and another in Philadelphia.

Fort Worth, Texas – RadioShack Corp. has opened a new concept store in Detroit, and another in Philadelphia. All new concept stores in the company's portfolio feature an upgraded shopping experience, which showcases the company's new look, and incorporates interactive areas designed to help shoppers improve their technology profile.

October 10, 2013

More than three-fourths (79%) of retailers expect an increase in sales this holiday season – the highest percentage seen since the financial downturn.

Philadelphia -- More than three-fourths (79%) of retailers expect an increase in sales this holiday season – the highest percentage seen since the financial downturn. That’s according to global management consultancy Hay Group’s seventh annual retail holiday survey, whose results were more optimistic that several other holiday forecasts.

October 3, 2013

Urban Outfitters has purchased 6.5 acres in the Philadelphia suburb of Devon, Pa., on which is plans to build a lifestyle shopping village concept, according to Racked Philly.

New York -- Urban Outfitters has purchased 6.5 acres in the Philadelphia suburb of Devon, Pa., on which is plans to build a lifestyle shopping village concept, according to Racked Philly.

The report said that the retailer plans to build a Terrain garden center, an Anthropologie, a boutique hotel, two restaurants, and a specialty foods market, along with such other  possibilities as a health/spa facility.

October 3, 2013

Urban Outfitters has purchased 6.5 acres in the Philadelphia suburb of Devon, Pa., on which is plans to build a lifestyle shopping village concept, according to Racked Philly.

New York -- Urban Outfitters has purchased 6.5 acres in the Philadelphia suburb of Devon, Pa., on which is plans to build a lifestyle shopping village concept, according to Racked Philly.

The report said that the retailer plans to build a Terrain garden center, an Anthropologie, a boutique hotel, two restaurants, and a specialty foods market, along with such other  possibilities as a health/spa facility.

October 1, 2013

Nordstrom Rack will make its Philadelphia debut, opening an approximately 39,000-sq.-ft. store on Chestnut Street in fall 2014.

Seattle -- Nordstrom Rack will make its Philadelphia debut, opening an approximately 39,000-sq.-ft. store on Chestnut Street in fall 2014. The property is owned and managed by JEMB Realty Corp.
   
The new Nordstrom Rack will move into a completely renovated space that was originally home to department store Bonwit Teller and was most recently held by Daffy's. The store will occupy the first three floors of the historic, eight-story building.
   

September 24, 2013

Mom’s Organic Market is opening its first Pennsylvania store, in Rosemont Square, Bryn Mawr, which is located outside of Philadelphia.

Rockville, Md. -- Mom’s Organic Market is opening its first Pennsylvania store, in Rosemont Square, Bryn Mawr, which is located outside of Philadelphia.

September 16, 2013

Blo/Out Blow Dry Bar has opened its third area location at Willow Grove Park in Willow Grove, Pa., near Philadelphia.

Willow Grove, Pa. — Blo/Out Blow Dry Bar has opened its third area location at Willow Grove Park in Willow Grove, Pa., near Philadelphia. The no-appointment 1,300-sq.-ft. salon offers eight styling techniques plus Blo/Out Express, a 20-minute dry styling treatment.

September 12, 2013

Destination Maternity Corp. plans to relocate its corporate headquarters and distribution center from Philadelphia, to southern New Jersey.

Philadelphia -- Destination Maternity Corp. plans to relocate its corporate headquarters and distribution center from Philadelphia, to southern New Jersey.

The company's corporate office operations (which are currently split between its headquarters at North 5th Street in Philadelphia and its offices in the Philadelphia Navy Yard) will move twelve miles from the current 5th Street headquarters facility to a completely renovated 74,000-sq. ft. building in Moorestown, New Jersey. The chain expects the move to occur in fall 2014.

September 12, 2013

Destination Maternity Corp. plans to relocate its corporate headquarters and distribution center from Philadelphia, to southern New Jersey.

Philadelphia -- Destination Maternity Corp. plans to relocate its corporate headquarters and distribution center from Philadelphia, to southern New Jersey.

The company's corporate office operations (which are currently split between its headquarters at North 5th Street in Philadelphia and its offices in the Philadelphia Navy Yard) will move twelve miles from the current 5th Street headquarters facility to a completely renovated 74,000-sq. ft. building in Moorestown, New Jersey. The chain expects the move to occur in fall 2014.

August 27, 2013

Small beginnings can lead to big things. That’s certainly true in the case of Pep Boys, which was founded in 1921 by four Navy buddies who pooled together $800 to open an auto parts store in Philadelphia. Today, with some 750 stores across the United States and Puerto Rico, the Philadelphia-based company is one of the nation’s leading auto supply and service providers.

August 27, 2013

Turns out, malls and grocers were made for each other.

A few years ago, Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) renovated Plymouth Meeting Mall in Philadelphia’s northwestern suburbs.

The renovation replaced an old Ikea on the site with a lifestyle component called Plymouth Meeting Mall’s Plaza Shops, which leads customers to the mall entrance.

PREIT brought in a 65,000-sq.-ft. Whole Foods Market as the anchor. 

August 19, 2013

Urban Outfitters’ second-quarter net income jumped to $76 million for the three months ended July 31, 2013.

PHILADELPHIA — Urban Outfitters’ second-quarter net income jumped to $76 million for the three months ended July 31, 2013.

Total company net sales for the second quarter increased 12% to a record $759 million. Same—store sales, including the company’s direct-to-consumer channel, increased 9%.

Comparable retail segment net sales increased 38% at Free People, 9% at Anthropologie and 5% at Urban Outfitters. Wholesale segment net sales rose 17%.

August 8, 2013

Chain Store Age sat down with Stephen L. Hittman, CEO, Crossroads Cos., to discuss best practices for developing supermarket-anchored centers. Here’s what he had to say:

Over his 34-year commercial real estate career, Stephen L. Hittman has been developing supermarket-anchored shopping centers for 20 of those years. In 2001, he founded Crossroads Companies. As president and CEO of Crossroads, he has built a regional portfolio of supermarket-anchored centers valued at more than $200 million.

July 1, 2013

Men’s and women’s apparel retailer, Theory has taken 3,000 sq. ft. at 1616 Walnut Street in Center City Philadelphia near Rittenhouse Square, according to Fameco Real Estate.

Philadelphia -- Men’s and women’s apparel retailer, Theory has taken 3,000 sq. ft. at 1616 Walnut Street in Center City Philadelphia near Rittenhouse Square, according to Fameco Real Estate.

Fameco represented the building’s ownership group of Federal Capital, Alterra Property and Cross Properties in the transaction.