Pennsylvania

The Meridian

Pittsburgh — A joint venture between Greystar and ECHO Realty has broken ground on Ophelia and The Meridian, a multifamily and retail project located at the intersection of Penn and Shady avenues in Pittsburgh.  The development will include Ophelia, a 231-unit multifamily project by Greystar; The Meridian, a 44,000-square-foot retail development spearheaded by ECHO Realty; and parking for both retail and residential uses. Ophelia will offer units in studio, one- and two-bedroom configurations, 35 of which will be subject to income restrictions under the city’s affordable housing program. Shared amenities will …

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GIANT

Philadelphia — Grocery chain GIANT will open a new, 50,000-square-foot store at Andorra Shopping Center in Philadelphia. Construction of the space is scheduled to begin in 2025. Federal Realty Investment Trust is the landlord and also plans to reposition 30,000 square feet of existing retail space, with the two projects representing a combined investment of $25 million. Repositioning plans include the addition of landscaped plazas, outdoor dining and curbside pick-up spaces and expanded sidewalks. 

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Shepherds-Corner_Trexlertown-Pa

Trexlertown, Pa. — Colliers has negotiated the $5.4 million sale of Shepherd’s Corner, a 9,512-square-foot shopping center located in Trexlertown. The property was fully leased at the time of sale. Derek Zerfass and Jeff Algatt of Colliers represented the seller in the transaction. Robbie Stephens of ERA Rudy Amelio represented the buyer. Tenants at the center occupy their respective spaces on a net-lease basis, with leases in place until at least 2032. 

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Mill Valley, Calif. — Four Corners Property Trust (FCPT) has purchased 20 restaurant properties occupied by Bloomin’ Brands concepts for $66.4 million dollars. Located in Arizona, Florida, Georgia, Kentucky, Louisiana, North Carolina, Nevada, Pennsylvania, South Carolina and Tennessee, the portfolio includes 10 Outback Steakhouse restaurants and 10 Carrabba’s Italian Grill restaurants, with one dual-tenant property occupied by both concepts. The properties are leased to corporate Bloomin’ Brands entities on two master leases. This transaction makes Bloomin’ Brands the third largest tenant for FCPT, accounting for 3.3 percent of cash rent for …

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GetGo-Cafe-Market

Laval, Quebec and Cranberry Township, Pa. — Alimentation Couche-Tard Inc., the Canadian parent company of Circle K, has agreed to acquire GetGo Café + Markets from Giant Eagle Inc., a supermarket chain based in Pennsylvania. GetGo’s portfolio includes 270 gas station and convenience store locations in Pennsylvania, Ohio, West Virginia, Maryland and Indiana. The company staffs approximately 3,500 employees. “We are excited to welcome GetGo into the Couche-Tard family,” says Brian Hannasch, president and CEO of Couche-Tard. “We look forward to growing together as we learn from and continue GetGo’s innovative …

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Glen Mills, Pa. — Aesthetics and wellness concept VIO Med Spa has signed a lease at Glen Eagle Square, a shopping center located in Glen Mills. Scheduled to open at the property in the fourth quarter of this year, the tenant will occupy 1,995 square feet adjacent to Currie Hair and Skin and Nails. Whole Foods Market anchors Glen Eagle Square, which totals 152,000 square feet. 

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Downingtown, Pa. — BWE has arranged $45 million in first mortgage financing for Brandywine Square Shopping Center, a 607,999-square-foot retail center located in Downingtown, roughly 40 miles outside Philadelphia. Kevin Hicks of BWE secured the financing through a life insurance company on behalf of the borrower, Allied Properties. Wegman’s anchors the property. Other tenants at the center include BJ’s Wholesale, Dick’s Sporting Goods, DSW, PetSmart, Regal Cinema and Best Buy.

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Bellefont, Pa. — Marcus & Millichap has arranged the $10.1 million sale of a retail building located in Bellefont. Giant Food occupies the property, which was constructed in 2022 as part of Paradise Shopping Center, on a net-lease basis. Dean Zang, Brad Nathanson and David Crotts of Marcus & Millichap represented the seller, a Pennsylvania-based developer, in the transaction. JRW Realty represented the buyer, an affiliate of Exchange Right.

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Fayetteville, Ark. — Arkansas-based fast-casual brand Slim Chickens has signed a franchise deal for 12 units in the state of Pennsylvania. Plans include the addition of restaurants in the counties of Lancaster, Lebanon, Dauphin, York, Cumberland, Centre, Franklin, Mifflin, Juniata, Perry and Adams. PSMMSM PA Ventures, also a Dunkin’ Donuts franchisee, will own and operate the new units. 

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Center Valley, Pa. — Specialty sports retailer Rally House has signed a 5,903-square-foot lease at Promenade Saucon Valley, a shopping center located in Center Valley. Scheduled to open this summer, the store will be located between Barnes & Noble and J.Crew Factory. Other recently added tenants at the property include Five Guys Burgers & Fries, The Great Greek Mediterranean Grill, Club Champion, Fulton Bank, FD Market, Turning Point, Handmade Mystic and Lashses by Gab. 

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