Clear your Saturday afternoon because a local flea market for a good cause is coming to a rooftop near you. Whole Flea, aptly named as it takes place atop Whole Foods South Street, will feature over forty vendors selling hand-crafted jewelry, body products, home goods, art, antiques, ceramics, food, clothing and more. Read more »
It’s no secret: people love themselves some Trader Joe’s and Whole Foods. Almost any time a new mixed-use development is proposed in Philadelphia with enough retail space that could possibly fit a grocery store, residents come out of the woodwork to clamor for a Trader Joe’s or a Whole Foods.
You know what those people also love? Money. It’s called “Whole Foods Effect” – a real estate phenomenon where property values seemingly rise in areas surrounding the Austin-based organic grocery chain. The presence of a Whole Foods, especially in urban neighborhoods, seems to certify that a home buyer has made a quality choice of settling in that area.
Well, it turns out that it could probably be called the "Trader Joe's Effect." RealtyTrac recently ran some of the numbers and came to an interesting conclusion: "What we found is that homeowners near a Trader Joe’s have experienced better home value appreciation since their purchase, but also pay higher property taxes on average."
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In the wake of an overcharging scandal, the problems for Whole Foods continue. Shareholder Yochanan Markman is leading a class-action lawsuit on behalf of purchasers of Whole Foods securities claiming that the situation drove down the share price and that the company made false or misleading statements and “routinely overstated the weight of its pre-packaged products and overcharged customers.” Read more »