Former Bankroll Space Has Potential for Multiple Parties

Multiple parties in talks to lease former Bankroll space

The former Bankroll space in Rittenhouse Square, previously a $25 million sports and entertainment venue and restaurant that closed within a few months earlier this year, is now available for lease. Located along Chestnut Street, the property has been listed by Philadelphia-based MSC in an effort to fill this vacant area.

Jacob Cooper, partner and managing director at MSC, has been spearheading the property’s marketing since the beginning of October. They’ve garnered interest from various local, regional, and national operators considering leasing either a portion or the entire space at 1910-1918 Chestnut St. MSC aims to finalize a deal by the first quarter of 2024.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

CEO of Chase Consumer Banking Announces Plan to Double Branch Count in the Region

Chase consumer banking CEO says it will double its branch count in the region

In less than five years since inaugurating its initial retail branch in the Philadelphia region, Chase Bank has achieved its target of establishing 50 locations here by 2024. At the recent “Banking on Philadelphia” event at City Winery, Jennifer Roberts, CEO of Chase Consumer Banking, announced the anticipation of doubling this number within the next seven years. Roberts envisions that within this timeframe, the bank could pose a significant challenge to the region’s top five deposit-taking institutions for market supremacy.

Working out of Wilmington and residing in Chester County, Roberts oversees the consumer banking endeavors of the nation’s largest bank, encompassing 4,800 branches, 16,000 ATMs, and 42,000 employees spanning 48 states.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Wing Zone Targets Philadelphia Market for Expansion

Wing Zone seeking expansion in Philadelphia

Fast-Casual Chicken Wing Chain Plans Expansion with 20 New Locations in Greater Philadelphia.

Wing Zone Hot Chicken and Wings, is a Las Vegas-based eatery, that has set ambitious growth goals for Greater Philadelphia. They are actively seeking franchisees interested in multi-unit development agreements to open a minimum of 20 new locations in and around the Philadelphia region. Although the chain doesn’t currently have any operational or planned stores in the area, some eager franchisees are actively scouting for suitable real estate opportunities.

It’s worth noting that while Wing Zone may be new to Greater Philadelphia, its parent company, Capriotti’s Sandwich Shop, has a well-established presence.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

13 Rite Aid Locations in the Philadelphia Area Listed for Sale as Part of Bankruptcy Process

13 Rite Aid Locations in the Philadelphia Area Listed for Sale as Part of Bankruptcy Process

Rite Aid Initiates Sale of Nearly 100 Store Leases and Properties, Including 13 in the Philadelphia Area, Following Its Chapter 11 Bankruptcy Filing.

Rite Aid is in the process of selling approximately 100 store leases and properties, including 13 in the Philadelphia region, as a part of its Chapter 11 bankruptcy proceedings. The Rite Aid locations earmarked for sale have either already closed or are slated for imminent closure. This inventory consists of 78 Rite Aid leases and 21 fee-owned properties.

Each of the Rite Aid (NYSE: RAD) leases available for purchase has a lease term of more than 10 years, inclusive of extension options. Given that Philadelphia-based Rite Aid does not own the properties at these sites, prospective lease buyers would take on the role of tenants and may modify the site’s use, provided such changes adhere to the lease terms. Pennsylvania hosts 12 leases available for sale, while six are situated in New Jersey.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Rite Aid in Philadelphia Files for Bankruptcy

Philadelphia Rite Aid Claims Bankruptcy

Several weeks following the initial presentation of a bankruptcy plan by Rite Aid, which included the closure of numerous stores, the Philadelphia-based pharmacy chain officially filed for Chapter 11 bankruptcy protection on Sunday. This development was largely anticipated.

Rite Aid, along with its counterparts such as CVS and Walgreens, has confronted shared challenges in recent years. These challenges encompass shifting customer preferences towards e-commerce giants like Amazon and large retail chains, posing stiff competition to traditional pharmacy chains.

Adding to these difficulties, Rite Aid is entangled in over 1,000 lawsuits that accuse it of having dispensed illicit prescriptions, including opioids.

*Article courtesy of Inquirer

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

New York Investor Acquires Delco Shopping Center in a $26 Million All-Cash Transaction

New York Investor Acquires Delco Shopping Center in a $26 Million All-Cash Transaction

A Boothwyn Shopping Center Anchored by Walmart and Acme Sells for $26 Million.

Larkin’s Corner, a prominent shopping center in Boothwyn featuring anchor stores like Walmart and Acme, has been successfully sold for $26 million, as reported by an industry insider. U & Me Enterprises, a private investor hailing from Long Island, New York, completed the acquisition from Site Centers (NYSE: SITC) in an all-cash transaction through a 1031 exchange, according to the same source. A 1031 exchange is a tax-deferral mechanism that allows real estate investors to sell one property and reinvest the proceeds into another without incurring capital gains taxes.

The shopping center, spanning an impressive 225,214 square feet, is home to various well-known tenants, including Dollar Tree, McDonald’s, and TD Bank. Notably, the property in Delaware County enjoys a high occupancy rate of 99% and is conveniently situated at 601-659 Conchester Highway.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Sprouts Farmers Market to Open 6 Locations in Philadelphia Area

Sprouts Farmers Market opening 6 new locations across the Philadelphia area

Five years after Sprouts Farmers Market entered the Philadelphia region, the Phoenix-based grocery chain is expanding its commitment to the area with plans to open at least six more stores in the next two years.

Sprouts opened its first local store in 2018 at South Broad and Washington streets in South Philadelphia. Since then, it has opened four other area locations in Upper Dublin; Haddon Township and Marlton, New Jersey; and Wilmington, Delaware.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Topgolf in Philadelphia up for Sale

Topgolf up for sale at Northeast Philly location

The Topgolf off Roosevelt Boulevard in Northeast Philadelphia has been listed for sale nearly 18 months after opening.

Located at 2140 Byberry Road off Roosevelt Boulevard, the 16.4-acre property and the 68,000-square-foot building are listed on online real estate platform Crexi as “unpriced.”

Topgolf’s operations will not be impacted by any potential sale of the property.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Former Marshalls Space in Center City Filled with Ross Dress for Less

Former Marshalls space in Center City to get new retail tenant

The shuttered Marshalls store at 10th and Market streets will be filled by Ross Dress for Less, another discount retailer currently with space on Market Street.

The Marshalls at 1044 Market St. closed in mid-January, leaving yet another vacancy on Market East across from the Fashion District. Now, Ross will relocate to the 26,000-square-foot space, according to Michael Hirschhorn, president of Jenel Real Estate, which owns the building. Ross currently has a store in the Lits building at 701 Market St., just a few blocks away.

The property at 10th and Market streets, which has been owned by New York-based Jenel Real Estate since 2000, also includes a CVS and the Freire Charter School. The entire building is 103,000 square feet.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.

Estia Group Targets Space for New Rittenhouse Square Hotel

Estia Group targets space next to Hyatt Centric hotel for new Rittenhouse Square restaurant

A local hospitality group is eyeing the ground-floor space attached to the Hyatt Centric Center City Philadelphia hotel in Rittenhouse Square for its next restaurant, city zoning documents show.

A zoning permit issued on Aug. 25 allows for two signs to be erected on the building’s exterior at the corner of Chancellor and 17th streets bearing the name Anthos. The 6,396-square-foot space is retrofitted to support a restaurant, and zoning documents show it is approved for use as an eating and drinking establishment and take-out restaurant.

According to Pennsylvania Liquor Control Board records, there is a liquor license in safekeeping for a concept with the same name and location obtained by a licensee registered to 1405 Locust St., the address for Estia Restaurant and Estia Group’s owners, the Pashalis family. The hospitality group also operates Pietro’s Pizzeria at 1714 Walnut St., near the Chancellor Street spot, along with another Pietro’s Pizzeria outpost in Radnor and two Estia Taverna locations in Radnor and Marlton, New Jersey.

*Article courtesy of Philadelphia Business Journal 

For more information about Philadelphia retail space for sale or lease, please contact WCRE at 215-799-6900.Wolf Commercial Real Estate, a full-service CORFAC International brokerage, and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.