Posts Tagged: Philadelphia

Montgomery Mall sells for $55M in a foreclosure sale

Kohan Retail Investment Group of Great Neck, New York, has purchased Montgomery Mall in a foreclosure sale for $55 million.  The sale price is 95% of the property’s appraised value as of August of $57.5 million. In 2014, the mall had been appraised at $195 million, or $176 a square foot. A Montgomery County Court of Common… Read more »

Sugar Factory chain to open Philadelphia restaurant with ‘insane milkshakes,’ celebrity-designed cocktails

Las Vegas restaurant chain Sugar Factory American Brasserie is taking over the former Porta space in Center City.  Sugar Factory is known for over-the-top offerings like sliders with rainbow buns; “insane milkshakes” served in chocolate-covered mugs and decked out with sweets like candy necklaces, candy bars and cookies; and a 24-scoop King Kong Sundae topped with marshmallows,… Read more »

Chase sees opportunity in Philadelphia market, will exceed its 50-branch target

JPMorgan Chase & Co. said it will exceed the promised 50 retail branches coming to the region. The nation’s largest bank entered the Philadelphia retail banking world in September 2018 when CEO Jamie Dimon visited Philadelphia to announce plans to open to 50 locations within five years. Three years later, Chase (NYSE: JPM) has already opened 41… Read more »

Amazon is hiring 4,800 people across the Philadelphia region

Amazon plans to hire thousands of workers in the Philadelphia region as the retail giant accelerates its rapid expansion across the area. The company announced Tuesday that it was seeking nearly 4,800 employees in the city and surrounding counties, part of a nationwide plan of hiring 125,000 people. The warehouse jobs come with an average starting… Read more »

Bankroll Club, a sports and entertainment venue, plans to take over the landmark Boyd Theater in Philadelphia

Bankroll Club — a novel, tech-based sports and entertainment center with a Stephen Starr restaurant — is planning to occupy the Chestnut Street building that once housed the landmark Boyd Theater. A liquor-license application was recently posted on the building at 1910 Chestnut St., as noted on the Philadelphia Industrial HeritageFacebook group. A sign application… Read more »

New York investment firm buys Northeast Philadelphia retail center for $78M

Blackstone, a New York investment firm, has paid $78 million for Northeast Tower Center, a 301,208-square-foot retail property in Philadelphia, according to those familiar with the transaction. Paramount Realty Services Inc. of Lakewood, New Jersey, sold the center at 4640 Roosevelt Blvd. It is anchored by a 119,388-square-foot Walmart and counts Staples, Ross Dress for… Read more »