Monday, February 8, 2016

Another Gallery rumor

People who work in PREIT's Gallery retail complex on Market Street, where Kmart is moving out, tell us Century 21 - the Secaucus, NJ-based New York area retail chain, not the home-realty sales network - is planning to move in.

Another Gallery rumor

0 comments
Rumor has it that a Century 21 clothing store will be coming to The Gallery. (Photo from c21stores.com)
Rumor has it that a Century 21 clothing store will be coming to The Gallery. (Photo from c21stores.com)

People who work in PREIT's Gallery retail complex on Market Street, where Kmart is moving out, tell us Century 21 -- the Secaucus, NJ-based New York area retail chain, not the home-realty sales network -- is planning to move in. "That would be great, if it's true," Larry Steinberg at CBRE/Fameco tells me. "We've been after them to move to Philadelphia for a long time. It would be like having a Nordstrom's Rack." 

"We have worked with them and they are looking around, (but) they very strongly prefer to own the real estate that they open stores in, so that is a factor," warns retail broker Michael Salove of MSC Retail in Center City.

No comment from Century 21's boss ("He left for the weekend") or from PREIT. And remember that H&M, Ross, Target and others (a supermarket? a big restaurant?) have been reported that-close to signing in the Gallery area, but those deals didn't get done. When last heard from, PREIT was looking for an investment partner to upgrade the whole place. 

0 comments
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy:

Philly.com comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by Philly.com staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
 
comments powered by Disqus
About this blog

PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, 215.854.5194, @PhillyJoeD. Read his blog posts at http://www.philly.com/PhillyDeals and his Inquirer columns at http://www.philly.com/philly/columnists/joseph-distefano/. Bloomberg posts his items at NH BLG_PHILLYDEAL.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
Also on Philly.com:
letter icon Newsletter