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View Count: 65 |  Publish Date: April 05, 2014
Another Gallery rumor
Joseph N. DiStefano Posted: Friday, April 4, 2014, 5:05 PM
People who work in PREITs 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 its true, Larry Steinberg at CBRE/Fameco tells me. Weve been after them to move to Philadelphia for a long time. It would be like having a Nordstroms 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 21s 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 didnt get done. When last heard from, PREIT was looking for an investment partner to upgrade the whole place. Joseph N. DiStefano Twitter | Email #post2 .pw-icon.ra1-pw-icon-reddit {background: url() 0px 0px no-repeat !important;width: 60px !important;height: 20px !important;margin-right:8px;}#post2 .pw-icon.ra1-pw-icon-email {background: url() 0px 0px no-repeat !important;width: 71px !important;height: 28px !important;}0 comments

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Time: 1:49  |  News Code: 394765  |  Site: philly.com
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