A New York big-box electronics chain has taken over one of the Philadelphia-area stores shut in the Circuit City bankruptcy earlier this year. 57-store P.C. Richard & Son, Farmingdale, N.Y., is moving into the freestanding 33,000-square-foot store at BPG Properties Ltd.'s East Gate Square, at the NJ 38-NJ 73 junction in Moorestown and Mount Laurel, N.J., says Steven H. Gartner, president of Philadelphia's Metro Commercial Real Estate.
As it closed stores prior to its bankruptcy, Circuit City kept its Pennsylvania stores open longer than outlets in Texas, Georgia, New York and other states.
Gartner says the chain's Philadelphia-area stores drew shoppers because they were "well-located, highly visible buildings." He says at least three other electronics chains are eyeing Circuit City sites around the area, along with former Linens-N-Things and other failed chains. Metro's Michael Gorman represented landlord BPG (corrected).
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