A major Delaware County shopping center has entered the market for sale, potentially attracting offers near $40 million. Brookhaven Shopping Center, a 213,800-square-foot retail property, is fully leased and anchored by ShopRite and Lowe’s. Located at 5075 Edgmont Avenue in Brookhaven, Pennsylvania, the shopping center occupies approximately 22.7 acres. JLL is marketing the property on… Read more »
Plans to redevelop Franklin Mall in Northeast Philadelphia have stalled following the withdrawal of a prospective buyer. Real estate investor Dean Adler is no longer pursuing the 1.6 million-square-foot shopping center. Previously known as Franklin Mills and Philadelphia Mills, the property has faced declining occupancy and financial challenges. The mall will now be removed from… Read more »
Prickett Preserve, a 56,252-square-foot shopping center in Yardley, Pennsylvania, has sold for $39 million. The transaction achieved a record-setting price per square foot for a shopping center in the Greater Philadelphia region. Dallas-based L&B Realty Advisors acquired the Bucks County property from developers DeLuca Homes and Envision Land Use. JLL marketed the property, which was… Read more »
A major Montgomery County shopping center has changed hands in a $50 million retail real estate transaction. Echo Realty and TPG acquired Water Tower Square from The Goldenberg Group through their newly formed joint venture. Located at 751 Horsham Road in Montgomery Township, the property spans 269,018 square feet. The fully leased shopping center sold… Read more »
Starbucks is closing three more locations across Philadelphia and South Jersey as the coffee chain adjusts its regional retail footprint. The latest closures bring the company’s total to nine local stores in less than two years. Two Philadelphia cafes will close at 1018 North 2nd Street and 2201 South Street. The locations serve the Northern… Read more »
A major Montgomeryville shopping center has changed hands as investors continue targeting well-anchored retail properties. Echo Realty and TPG acquired the 269,000-square-foot Water Tower Square from Goldenberg Group. The final sale price was not disclosed. The property was previously expected to sell for approximately $55 million after reaching the market in May. Water Tower Square… Read more »
Neshaminy Mall in Bucks County will close by the end of October, ending nearly six decades of operation. The approximately 1 million-square-foot Bensalem shopping center has served the region for 58 years. However, rising vacancies and declining customer traffic have challenged the traditional mall in recent years. Most remaining mall tenants will close by the… Read more »
Uncle Giuseppe’s Marketplace is entering the Greater Philadelphia market with two new grocery stores planned for late 2027. The upscale Italian grocery chain will open locations in King of Prussia and Moorestown, New Jersey. Together, the new stores are expected to create at least 500 jobs across the Philadelphia region. In King of Prussia, Uncle… Read more »
Trader Joe’s is expanding into South Philadelphia for the first time with a planned store along Columbus Boulevard. The grocery chain will anchor a new shopping center at 1505-25 South Columbus Boulevard in Pennsport. The property sits near the intersection of Columbus Boulevard and Dickinson Street. The new store would become Trader Joe’s third Philadelphia… Read more »
Fine Wine & Good Spirits is relocating one block west along Chestnut Street into a 6,000-square-foot retail space in Center City. Fine Wine & Good Spirits is relocating its Center City store one block west along Chestnut Street. The existing store at 1112 Chestnut Street is preparing to close. As a result, The Collins apartment… Read more »
