PHILADELPHIA–AUGUST 14, 2019– Metro Commercial Real Estate, Inc. (Metro), one of the nation’s leading full-service, independent retail real estate firms, announced today it has brokered a lease with GIANT Food Stores for its first full-size store format in Philadelphia. The grocery chain will occupy 65,160 square feet in River Walk, a new mixed-use development at the northwest corner of North 23rd Street and Arch Street. The project broke ground in early 2019 and is expected to be completed in 2021. The Metro leasing team representing GIANT was led by Executive Vice President of Brokerage Services and Principal Steve Niggeman and Senior Sales Associate of Brokerage Services Iryna Iryk.
Acquired in 2016 by PMC Property Group, River Walk is comprised of two luxury residential towers with a combined 612 apartments positioned along the Schuylkill River waterfront. GIANT will occupy 4,365 square feet on the street level and 60,795 on the second story of the North 23rd Street tower with plans for 90 parking spaces. Other retailers opening at River Walk will be announced in the coming months.
“A grocery store in close proximity is essential for the residents of River Walk, as well as neighboring buildings, making GIANT the ideal tenant for the towers,” said Niggeman. “Offering Peapod home delivery, an exclusive line of organic items, and fresh meat and produce, GIANT will bring a level of convenience to area residents that isn’t currently available. We are excited to help GIANT expand into Philadelphia in the coming months and we are confident that this will be a mutually beneficial relationship for all parties.”
Started in 1923 in Carlisle, Pennsylvania, GIANT has grown from local butcher shop to national grocery retailer. Currently operating two smaller Heirloom Markets in Philadelphia, River Walk is the first full-size store format planned for the city.
Retailers seeking brokerage services can contact Steve Niggeman at email@example.com or 610-260-2667.