The historic Famous 4th Street Delicatessen in Queen Village, which has stood for a century, is now under the ownership of the Locals 8 Hospitality Group based in Connecticut. The acquisition of this cherished Philadelphia establishment, along with its 7,263-square-foot building at 700 S. 4th St., was finalized on Jan. 8, as confirmed by founder… Read more »
Following the resurgence of leasing activities and pedestrian flow in Center City after the Covid-19 pandemic’s impact in 2022, this positive trend continued to propel retailers in Philadelphia throughout the past year. As of September, retail occupancy in the Center City District stood at 84.5%, steadily regaining ground toward the pre-pandemic 89% mark observed in… Read more »
The renowned Canadian coffee chain, Tim Hortons, has initiated its expansion into Greater Philadelphia, debuting a new location in South Jersey and securing a multi-unit development deal for Delaware as part of its quest for additional franchisees to drive regional growth. Their fifth New Jersey outlet, situated off Route 130 in Cinnaminson, opened on Nov…. Read more »
PJW Restaurant Group has ambitious plans to expand its presence in Greater Philadelphia with the launch of at least two new P.J. Whelihan’s Pub and Restaurants in 2024, aligning with its annual growth targets. Jim Fris, CEO of the Westmont, New Jersey-based restaurant group, announced the forthcoming openings of P.J. Whelihan’s locations in Delaware County… Read more »
Facing a significant debt load of over $1 billion, PREIT has made the decision to file for Chapter 11 bankruptcy protection for the second time in just a little over three years. The regional mall owner took this voluntary step by filing in the U.S. Bankruptcy Court for the District of Delaware, having already established… Read more »
Philadelphia-headquartered Rite Aid persists in its endeavor to sell off store leases and properties amid Chapter 11 bankruptcy proceedings, expanding its offerings to include seven additional locations in the Philadelphia area, encompassing two stores situated on Broad Street. As of the latest update released on Tuesday, Rite Aid currently lists seven retail leases and six… Read more »
A chicken wing-focused restaurant chain from North Carolina has selected Philadelphia as a key market for its expansion efforts, marking its return to growth plans after nearly four years of pandemic-induced delays in the region. East Coast Wings + Grill is targeting the opening of at least five new locations in and around Philadelphia within… Read more »
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… Read more »
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… Read more »
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… Read more »
