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DelawareInvestment salesNews

Neuman Commercial Arranges $33.5 Million Sale of Newark Shopping Center in Metro Philadelphia

by Katie Sloan

Newark, Del. — Atlantic Realty Cos., represented by Gil Neuman of Neuman Commercial Group, has sold Newark Shopping Center for $33.5 million. The 145,400-square-foot retail center is located in Newark, Delaware, roughly 45 miles southwest of Philadelphia. The property was 93 percent leased at the time of sale to tenants including Newark Natural Foods, Main Street Movies 5, PNC Bank, Wingstop, Capriotti’s, Dollar Tree, Orangetheory Fitness, Goodwill, Fresenius Medical Care, Enterprise Rent-A-Car, T-Mobile, Rita’s Italian Ice, Tropical Smoothie Cafe and Chase Bank.

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JCPenney
Company newsDelawareInvestment salesMarylandNew HampshireNew JerseyNewsVirginia

Copper Property Trust Sells Seven East Coast JCPenney Stores for $65.2 Million

by Hayden Spiess

Jersey City, N.J. — Copper Property CTL Pass Through Trust has sold seven JCPenney retail locations on the East Coast in three transactions totaling $65.2 million. The assets include stores in Delaware, Maryland, New Hampshire and Virginia. The buyers were not disclosed. Copper Property is a New York common law trust that was established to acquire 160 retail properties and six warehouse distribution centers from department store chain JCPenney as part of the retailer’s Chapter 11 reorganization plan. The stores are located at the following malls and shopping centers: Christiana …

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DelawareDevelopmentLeasingNewsVirginiaWashington DC

Wegmans Opens New 81,300-Square-Foot Grocery Store in Metro D.C., Two More Planned to Open

by Katie Sloan

Washington, D.C. — Wegmans is expanding in metropolitan Washington, D.C. In early May, the grocer opened an 81,300-square-foot store at 150 Stovall St. in Alexandria, Virginia, a store that anchors Stonebridge’s Carlyle Crossing mixed-use development. The Alexandria store opened earlier this month and is the 14th Wegmans in Virginia and 107th nationwide. The grocer also plans to open an 85,000-square-foot store within the Halley Rise development in Reston, Virginia, and an 84,000-square-foot store at the $640 million City Ridge development in northwest Washington, D.C. The City Ridge store will open in …

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Company newsDelawareNewsRetailers

Lululemon Reopens 60 Percent of Stores, Reports 17 Percent Drop in Revenue in Latest Quarter

by Alex Tostado

Dover, Del. — Lululemon (Nasdaq: LULU), a provider of athletic apparel that is based in Vancouver, British Columbia, but incorporated in Delaware, has now reopened 295 of its 489 stores, or roughly 60 percent of its worldwide locations. The company reported net revenue of $652 million in its fiscal first quarter, which ended May 3, compared with $785 million during the same period a year ago, a 17 percent decline. Lululemon closed all of its stores in mainland China following the outbreak of COVID-19 and subsequently shuttered its Europe and …

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DelawareDevelopmentGrocery-anchoredNewsRetailers

Sprouts to Open 30,000-Square-Foot Grocery Store in Wilmington, Delaware

by Alex Tostado

Wilmington, Del. — Sprouts Farmers Market will open a 30,000-square-foot grocery store in Wilmington, located approximately 30 miles southwest of Philadelphia. The Arizona-based grocery chain offers organic produce, an expansive bulk foods selections and an extensive vitamin department. Located at 4727 Concord Pike, the new store will bring 140 full- and part-time jobs to the area. The opening is scheduled for March 11.

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