Metro Announces 7 New Deals for Center City Philadelphia
PHILADELPHIA, PA – December 6, 2012 – Metro Commercial Real Estate, the Philadelphia region’s leading full-service retail real estate company, announced it has just negotiated seven high-profile new store openings in Center City Philadelphia.
Allen Edmonds, the U.S.-based manufacturer of premium men’s footwear and accessories has leased 1,865 SF on the southeast corner of 18th & Chestnut Streets. Michael Gorman and Steve Gartner represented the landlord, Midwood Management Corporation at this location, which will serve as Allen Edmonds’ flagship store for the region.
Medical Rehabilitation Center of Pennsylvania will occupy a full floor of 13,038 SF in Spring 2013 at 1608 Walnut Street. Steven Gartner negotiated the long-term lease on behalf of MRCP at the building, which is owned by PMC Property Group.
LUSH, the cosmetics and soap emporium, will open a 2,355 SF store shortly at 1525 Walnut Street. Michael Gorman and Steve Gartner relocated Lush from its longtime home at 1428 Walnut Street. Midwood is also owner of this prominent store in the heart of Rittenhouse Row.
National Penn Bank has leased 6,186 SF for a new bank branch at 2040 Market Street. This newly developed building was the former Mid-Atlantic AAA Headquarters, and has been extensively rebuilt and expanded into a luxury apartment building. Joseph W. Dougherty, Jr. represented National Penn Bank in this transaction. The bank is expected to open in early 2013.
Federal Donuts has recently opened its doors on its first Center City spot at 1632 Sansom Street, with a 635 SF outpost for its renowned fried chicken and artisan donuts. Randy Hope and Aaron Repucci represented the owner, Philadelphia Sansom, L.P. in this transaction.
Hand & Stone Massage has inked a deal for 3,000 SF at Rodin Place, 2000 Hamilton Street, part of the mixed-use complex also occupied by Whole Foods and Philadelphia Sports Club. They opened in the Fall of 2012. Lars Kerstein negotiated the transaction on behalf of the landlord, Rodin Market Partners, LP.
1318 Brauhaus will open a 3,200 SF restaurant in the summer of 2013 at 1318 Chestnut Street. The new tenant, also owners of Finn McCool’s, felt this location would benefit from the renaissance that is occurring along 13th Street in the Midtown Village. Lars Kerstein represented the owner, Samuel Rappaport Family Partnership, in this deal.
Metro Commercial Real Estate
Celebrating its 25th anniversary in 2012, Metro Commercial (www.metrocommercial.com) is one of the largest full-service independent retail real estate firms in the US. We specialize in tenant representation of national and regional retailers, shopping center leasing, property management, and investment property sales. With three offices located in Pennsylvania and New Jersey, Metro Commercial currently represents over 100 national retailers and serves as the exclusive leasing agent for more than 200 properties, totaling nearly 20 million square feet.