Posts Tagged: Philadelphia

Rita’s to Open 40 Stores, Adding More Drive-Thrus

Rita's to open 40 stores, add drive-thrus and new Italian ice flavors

Rita’s Italian Ice & Frozen Custard plans to open 40 new locations and add a new product line this year. The company, headquartered in Trevose, will expand into Missouri and add to its presence in Midwest states such as Illinois, Texas and Oklahoma. Rita’s CEO Linda Chadwick said that although the brand is primarily regional, it has… Read more »

Famous 4th Street Deli Lists for Sale

The 100-year-old Famous 4th Street Delicatessen in Queen Village is officially being listed for sale with an asking price of $5.95 million.  The listing for the Jewish deli on Feb 15. Although MPN does not include an asking price on its listing, a cross-posting on online commercial real estate marketplace Crexi shows the three-story property… Read more »

Chase Bank to Open 30 Branches in Philadelphia

Chase Bank Philadelphia Branch

Jennifer Roberts started her current role as CEO of JPMorgan Chase’s consumer banking division in March 2021 while the nation’s largest bank was two years into a bold plan to add 400 new locations in 20 new markets over five years, including 50 in the Philadelphia region. As the bank nears the end of its original timeline,… Read more »

Insomnia Cookies is Launching Global Expansion

Insomnia Cookies Launch Global Expansion

Insomnia Cookies has launched global expansion efforts for the first time in the 20-year-old company’s history, with plans to open stores in Canada and the United Kingdom this summer.  The Philadelphia-headquartered cookie and dessert retailer’s international presence will start with one store in the Toronto area and two in Manchester, UK. Over the next few… Read more »

PREIT is Eyeing Apartments on its Mall Properties

PREIT Apartments

PREIT’s plan to gain approval for multifamily developments at six of its mall properties has now swelled to as many as 7,000 apartments, CEO Joseph Coradino told the Philadelphia Business Journal. After selling off more than 20 malls in the past two decades, the Philadelphia company’s strategy has shifted to maximizing its remaining properties by… Read more »

South Street Businesses Still Effected After Mass Shooting

Philly Businesses Still Feel Effects from Mass Shooting on South Street

Eight months after a shooting that killed three people and wounded 11 on Philadelphia’s South Street, businesses in the neighborhood are still feeling the impact of the tragedy.  Late last spring, the South Street Headhouse District was attracting about 30,000 visitors on Saturdays before seeing that number cut almost in half immediately following the mass shooting on… Read more »

PREIT Sells Whole Foods Site in Plymouth Meeting

Whole Foods Plymouth Meeting Sold or $27M

PREIT has sold a Whole Foods-leased parcel at Plymouth Meeting Mall for $27 million, part of the Philadelphia real estate investment trust’s ongoing plan to raise capital.  The buyer was Agree Realty (NYSE: ADC), a REIT based in Bloomfield Hills, Michigan.  Since the beginning of 2022, PREIT has sold assets generating $141 million. Asset sales… Read more »

Jim’s Steaks is buying next-door neighbor Eyes Gallery

Jim's Steaks Philly

Eyes Gallery has sold its original home to neighboring Jim’s Steaks, another iconic South Street establishment. Both small businesses were devastated by a July 2022 fire that originated in electrical wiring at Jim’s. The cheesesteak spot, which recently shared plans for rebuilding, will expand into the former gallery next door, according to Eyes Gallery owner Julia Zagar… Read more »

Five Beyond conversions for 2023

Five Below offers new details on store expansion, Five Beyond conversions for 2023

Five Below Inc. said it plans to open more than 200 new stores in 2023 and convert 400 stores to its “Five Beyond” format, which features items priced above its traditional $5 threshold. The Philadelphia-based discount retailer revealed its 2023 expansion plans on Monday as it reported that net sales for the holiday season from… Read more »