Morning Headlines: The Gallery Will Not Get High-End Stores

kmart gallery market east

Detail from a photo from labelscar.com

“It could be high-fashion, it could be Forever 21″ we reported last December of PREIT’s plans for the Gallery. Well, it appears the high-end road will not be taken anytime soon. Instead, the space of the soon-to-be-closed Kmart will more likely house stores of the latter variety, in addition to getting a strong food presence.




According to Chris Hepp of the Inquirer, PREIT didn't (or couldn't?) seal the deal with any top-drawer department stores. CEO Joseph Coradino then mentioned food as "an important component" in transforming the Gallery into a go-to fashion place.

Gallery owner likely looking at 'fast fashion,' food [Inquirer]

In other news...

Chinatown's $70M tower gets funding source [Philadelphia Business Journal]

Foreign investors sought for planned Chinatown North tower [Daily News]

Financier convicted of defrauding nearly 2,000 clients [Inquirer]

Methadone clinic approved for Front and Diamond streets [PlanPhilly]

Vacant auto dealership will become home to Wawa, CVS [Northeast Times]

First Zoning Approval meeting for 4224 Baltimore scheduled for March [West Philly Local]

Plans for Cascia Center at Broad and Ellsworth presented to neighbors [Passyunk Post]

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  • matthew brandley

    PREIT is a investment ponzi scheme. By the ned of this year they will most likely be refiling fo bankruptcy with the empty retail space thats comming to all the malls they own. Retail is collapsing across the entire country and you can thank Obama for it. Now line up the libs to attack me.

    • DTurner

      Could also just be a market shift; look at places like Michael Kors or Lululemon, which are doing gangbusters.

      • matthew brandley

        lol. You realy are clueles

        • DTurner

          Oh Matthew, what would we do without your wild theories and constant insults?

          • matthew brandley

            Have you seen the earnings of walmart? over 2.5 b less n revenue in 2013 alone! stoes such as radioshack jcp kmart among so many are closing stores. over 12 retail chains have filed for bankruptcy this past month alone! againcall me a idiot but but seems to me your inteleigengce has just been insulted

          • DTurner

            How is this at all surprising? Americans are finding that they can do more of their shopping online, so big boxes are starting to die off. Many stores have simply not been able to adapt to the increase in e-commerce and are paying the price, this started before the recession and is becoming more popular as online shopping continues to gain in popularity. Show me data suggesting that Amazon’s revenues are dropping and I’ll be a bit more concerned.

            N.B. I did not actually call you an idiot, I simply noted that you have wild theories and love to insult everyone. Also, when insulting someone’s intelligence, it’s a good idea to spell intelligence correctly.

          • matthew brandley

            IF all you can do is attack me on my spelling than I have proven my point to a uneducated mindless troll

          • DTurner

            You also seems to have missed my first paragraph of remarks; good try though!

          • matthew brandley

            Amazon has yet to turn a profit. Again another mindless comment . If you realy would like to educate yourself on how bad things realy are , Which I doubt since you realy know it all I have to web sites for you to follow. Actualy 3 . Testosterone pit. Financial jusice which is a real time market up dat news feed. And another site called zero hedge. Now eff off!

          • DTurner

            Profits =/= revenues though, although you are right that Amazon’s profits are razor-thin at best (but revenues are pretty stable)

            http://www.forbes.com/sites/stevebanker/2014/02/20/amazon-takes-one-step-forward-two-back/

    • Jonathan Mandoza

      This sounds like a Toynbee tile FOH bozo