The Wegmans-anchored Prickett Preserve shopping center in Yardley has been listed for sale. As a result, a high-performing retail asset is being brought to market in Bucks County. The nearly 150,000-square-foot center was completed two years ago. Since then, occupancy has reached 98 percent. The Wegmans is located at 925 Vansant Drive within the larger… Read more »
Franklin Mall in Northeast Philadelphia is under contract for acquisition by Dean Adler. As a result, a large-scale redevelopment plan is moving forward. The 1.6 million-square-foot property spans 137 acres near Interstate 95 and the Bucks County border. Previously, the mall operated as Franklin Mills before its rebranding as Philadelphia Mills. However, the property entered… Read more »
H Mart has expanded its footprint in Montgomery County with the acquisition of a retail center in Lansdale. An entity tied to H Mart purchased Hillcrest Shopping Center, located at 616–640 E. Main Street, for $12 million. The transaction closed on Feb. 12, according to county property records. While the company has not confirmed redevelopment… Read more »
A newly acquired retail center along Girard Avenue is gaining new life as a neighborhood gym signs on as the anchor tenant. Philly Fitness will open a 23,000-square-foot facility at 901 W. Girard Avenue in Philadelphia. The gym is expected to open in early May and will mark the brand’s fourth location in the city…. Read more »
A major retail shift is underway in Northeast Philadelphia. A new tenant may soon fill a long-vacant big-box space. City records show a zoning permit was issued over the weekend for the former Amazon Fresh location at Red Lion Plaza. The property sits along Roosevelt Boulevard, a high-traffic retail corridor. Previously, Amazon halted its physical… Read more »
A retail property portfolio in Horsham has been listed for $18.3 million. As a result, multiple sale strategies are now being considered. The offering includes five parcels totaling 7.68 acres at 101 Easton Road. The site sits at the intersection of Route 611 and Blair Mill Road. In addition, it is located about three miles… Read more »
A corner retail property in Northern Liberties has been acquired for $2.7 million. As a result, redevelopment plans are moving forward along the Girard Avenue corridor. The site at 210–230 West Girard Avenue sits at the intersection of Germantown Avenue. Currently, a 10,000-square-foot building leased to Benjamin Moore Paints occupies the property. The acquisition was… Read more »
A Warrington shopping center has been acquired by CenterSquare Investment Management. As a result, the firm continues expanding its retail investment portfolio. The 32,200-square-foot Valley Gate shopping center was purchased for $15.5 million. Previously, the property was owned by Philadelphia-based Metro Development Co. Notably, the transaction equates to roughly $481 per square foot. Therefore, the… Read more »
Firstrust Bank plans to grow assets by one-third as part of a strategic plan through 2030. The bank also plans to open new retail branches for the first time in six years. CEO Tim Abell said Firstrust wants to expand its geographic footprint. Specifically, the bank plans to open one branch in South Jersey and… Read more »
Seattle-based retailer Nordstrom, Inc. will open two Nordstrom Rack locations in Eastern Pennsylvania this fall. The openings will align with the holiday shopping season. In Exton, Nordstrom Rack signed a lease at Main Street at Exton. The 652,776-square-foot open-air lifestyle center sits along Route 100 in Chester County. Wolfson Group owns and manages the property…. Read more »
