Posts Tagged: Philadelphia

New York Investment Firm Snags Bucks County Shopping Center for $22.5 Million

Realty Resource Capital Corp. has purchased Warrington Plaza, a fully occupied shopping center in Warrington, Pennsylvania, for $22.5 million. The Woodbury, New York-based real estate investment and commercial financing firm acquired the shopping center from Valley Forge Investment Corp. Located at the intersection of Street and Easton roads, two of the busiest commercial arteries in… Read more »

Giant opens Heirloom Market in Center City’s Fashion District

As supermarket chain Giant continues its expansion in Philadelphia, one of its most anticipated new stores celebrated its grand opening in Center City on Thursday. The Carlisle-based company opened its fourth Giant Heirloom Market at 801 Market St. inside the former home of the Strawbridge & Clothier department store, which had a long run beginning… Read more »

CVS store in Old City sold for $10.8M

An entity affiliated with Centrum Partners of Chicago sold for $10.8 million a 10,000-square-foot retail condominium leased on a long-term basis to CVS Pharmacy in the Old City neighborhood of Philadelphia. It bought the commercial condo at 259 Market St. in 2015 for $10 million. The buyer this time around is a Lafayette, Indiana, entity… Read more »

‘I think it’ll hurt business’: Philadelphia restaurant owners react to new vaccine mandate for indoor dining

Philadelphia restaurant owners are trying to determine how the new citywide Covid-19 vaccination mandate for indoor dining will impact operations after local officials announced the policy on Monday morning.    For months, Philadelphia eateries could choose either checking guest vaccination cards or requiring masks when not eating or drinking. But starting Jan. 3, local restaurants must require… Read more »

Twin Peaks bringing its lodge-style sports bars to Philly region

The Philadelphia region will see a wave of new sports bars in the coming years as Twin Peaks, a lodge-style restaurant with wall-to-wall TVs and an all-female waitstaff, embarks on its first expansion to the Northeast. Known for its rugged atmosphere and savory, made-from-scratch menu, Twin Peaks was founded in the Dallas suburbs in 2005… Read more »

International investor pays $52M for Penrose Plaza in South Philadelphia

United Hampshire U.S. Real Estate Investment Trust, a Singaporean real estate firm that invests in grocery-anchored retail centers, paid $52 million for Penrose Plaza, a 258,494-square-foot property in South Philadelphia.  The sale of Penrose Plaza joins other recently traded grocery-anchored shopping centers. For example, Red Lion Plaza, a roughly 240,000-square-foot shopping center at Red Lion… Read more »

Another indoor golf venue is planning to open on Fishtown, Olde Kensington border

A Dallas-based leisure and entertainment business operator is bringing an expansive golf concept to the rapidly developing area along the border of Philadelphia’s Fishtown and Olde Kensington neighborhoods.  Drive Shack Inc. (NYSE: DS), whose portfolio consists of entertainment concepts American Golf, Drive Shack and Puttery, is planning a 20,000-square-foot venue at 1400 N. Howard St.,… Read more »

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 »