The Airport Square shopping center in Montgomeryville has been sold for $82.5 million, according to a source familiar with the deal, becoming the latest retail property in the area to change hands over the last few months. The 298,719-square-foot retail center at 801 Bethlehem Pike was bought by a fund advised by Wafra Inc., a… Read more »
The Quartermaster Plaza in South Philadelphia has been sold to a joint venture of two New York firms for $100.1 million as part of a larger portfolio acquisition. Property records show DRA Advisors acquired the 456,000-square-foot shopping center from Massapequa, New York-based Cedar Realty Trust. The latter purchased the property in 2014 from Cleveland-based Forest City Ratner… Read more »
Global fast food restaurant chain Jollibee announced it opened its long-expected first location in Pennsylvania in the recently renovated Great Northeast Plaza near the intersection of Bustleton and Cottman avenues in northwest Philadelphia. The new Jollibee will occupy an outparcel location at 7340 Bustleton Ave., part of the large retail redevelopment of the former Sears-anchored shopping… Read more »
The site of a Wegmans at the Montgomery Mall has been purchased by an out-of-state real estate investor for $22.6 million, becoming the Philadelphia region’s latest grocery store property to trade hands in the last several years. ExchangeRight of Pasadena, California, acquired the 128,000-square-foot Wegmans in North Wales from Kohan Retail Investment Group. Great Neck,… Read more »
Glu Hospitality plans to open six new Bagels and Co. locations across Philadelphia in the next few months after launching the fast-casual dining concept last summer as part of a shift in focus amid the pandemic. Led by co-founders Derek Gibbons and Tim Lu, the hospitality company was forced to scale back normal operations at restaurants like Añejo… Read more »
Dave’s Hot Chicken, which has garnered a massive following since launching five years ago, is planning to open at least eight locations in the Philadelphia region. The fried chicken company founded in Hollywood is looking to bring its Nashville-inspired chicken to Philadelphia, Bucks, Chester, Montgomery and Delaware counties. Franchisees Jiger Patel and Pranav Desai have… Read more »
A new Amazon Fresh grocery store is being planned for the Willow Grove Shopping Center, state filings show, as part of a multimillion-dollar overhaul taking place at the nearly 70-year-old Montgomery County retail complex. Filings show Amazon Retail LLC has applied for a Pennsylvania liquor license to be used at 102 Park Ave., the address… Read more »
City Fitness plans to open its seventh Philadelphia gym, marking the latest expansion for the homegrown chain. The company is taking over a space previously occupied by Sweat Fitness at 45 N. 3rd St. in Old City. The three-floor, 15,000-square-foot gym is undergoing renovations and scheduled to open in November. y City Fitness opened its… Read more »
A Bucks County franchisee is eyeing the Philadelphia region for its ambitious growth plans, with intentions to open 30 new Qdoba locations in the area. The Integritty Group is opening its 31st Qdoba location in Bensalem off of Route 1 on July 25. That will kick off plans to open a total of 60 more… Read more »
A retail property that was known for six decades as the Cheltenham Square Mall and later redeveloped into Greenleaf at Cheltenham has sold for $69.5 million. Paramount Realty of Lakewood, New Jersey, bought the 400,851-square-foot center at 2385 Cheltenham Ave., adding to the real estate company’s growing portfolio of retail properties in the Philadelphia area…. Read more »
