Another Gallery rumor

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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. 

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