Why T.J. Maxx Is Just Right for East Market

Move over, Market Street Marshalls. A new discount retailer is moving to that part of town.

The Inquirer reported this week that a new T.J. Maxx will open its doors in Philly in the coming months as part of the highly-anticipated East Market development, which runs from Market to Chestnut and from 11th Street to 12th . Both parent company TJX, which also owns HomeGoods and Marshalls, and developer National Real Estate Development have yet to make an official announcement.

Sources close to the project told the publication that the store will join other tenants that have already locked in a space at the 4.3-acre development. That’s Mom’s Organic Market (which opened Friday morning), Wawa (to open in 2018), Iron Hill Brewery (coming spring 2018), and City Fitness (slated to open spring/summer 2018). Read more »

Are We Really Going to Call the New Gallery “FOP”?

Fashion Outlets of Philadelphia rendering

Rendering via Macerich

Today’s Inquirer has an update on the renovation of The Gallery. The Fashion Outlets of Philadelphia — the “at Market East” has been dropped from the name — are not open yet, but they already have a website and recently hosted a fashion show and panel discussion at Century 21 for Philly Fashion Week. This thing is happening.

Pennsylvania Real Estate Investment Trust, which owns the mall with partner Macerich, told the paper the mall is 70 percent leased. But it won’t release the names of businesses that have agreed to lease spaces because “in the outlet world, piecemeal announcements are a sign of weakness,” according to PREIT CEO Joseph Coradino.

All well and good. But there’s a Coradino quote at the end of the article that made me think. Read more »

The Gallery Is Covered in Dust and Debris

The Gallery - renovation

Photo | Dan McQuade

The escalators to the second floor of The Gallery don’t work anymore, but they’re still functional as stairs. “Thank you for the convenience,” I thought, quoting the late comedian Mitch Hedberg, as I walked up the stairs to stop at Villa.

The Villa is the last remaining sneaker shop in The Gallery, a mall that once had so many sneaker shops I was able to submit a mini-ranking of them in my ranking of Philadelphia-area malls in 2011. I went up to Villa — on the second floor of the gallery, which is actually the third level of shopping — to browse the racks of sparse, heavily discounted merchandise.

The Gallery’s remaining sneaker store is moving to the old Bare Fee/Showtime Shoes location on the 1200 block of Chestnut Street, and I picked up some cheap Stance socks before it moves at the end of the month. (If you think buying a pair of socks for $5 is silly, imagine paying $16 for a pair.) Read more »

Beyond the Gallery: Developers Snap up Three Properties on Market East

The Fashion Outlets of Philadelphia

The Fashion Outlets of Philadelphia

There’s an interesting wrinkle to the redevelopment of The Gallery at Market East into the Fashion Outlets of Philadelphia. PREIT and Macerich, the partnership developing the future outlet mall, have also purchased three properties across the street from the current downtrodden shopping center.

According to a report from The Inquirer’s Jacob Adelman, Joseph Coradino, PREIT’s cheif executive, said the plan is to find new tenants for these storefronts after the retailers at the Fashion Outlets of Philadelphia have been selected. They could be used to lure businesses who might not fit the plans of new shopping center, but want to be in and around the action. Remember, the East Market project is bringing apartments and gobs of retail to 11th and Market in the not-too-distant future–so there should be plenty of action in the coming years.

The Inky found out through city records that the pair bought the properties between 1010 and 1024 Market Street, which includes the wave-like Robinson department store building, under multiple (and difficult to identify) names in November 2014 for a combined $17.24 million.

Read more »

Market East: Gallery Rehab Won’t Be Finished Until at Least 2018

The Gallery - under renovation

The Gallery under renovation earlier this year. (Photo: Dan McQuade)

The Gallery won’t re-open as the Fashion Outlets of Philadelphia anytime soon.

Macerich and Pennsylvania Real Estate Investment Trust, who are co-developing the transformation of the mall, say the project won’t be finished until 2018 or 2019 now. The news was first reported by The Philadelphia Inquirer; Macerich VP Robert Perlmutter revealed the news in a conference call with analysts last week.

The Gallery, originally hailed as generator of urban rebirth, had lost its anchor tenants in recent years, and storefronts on upper floors were generally vacant. Though the mall still had a lot of foot traffic and generated respectable sales per square foot, its reputation, quite frankly, stunk.

The eastern half of the mall is closed; the western half (Gallery II) is slowly clearing out for redevelopment. When that’s done, PREIT and Macerich will rehab it into the Fashion Outlets of Philadelphia at Market East. Read more »

Gallery I Is Staying Open Just A Few Days Longer

gallery-1-closing

The eastern half of The Gallery at Market East will be open a little longer.

Scheduled to close today, the mall will get about a one-week reprieve. No official closing date is set, but once some paperwork is finalized the eastern half of the mall — known as Gallery I — will close. The closure should still happen within days.

No stores have been open in that side of the mall for months, but commuters regularly use it to avoid the elements. The stretch goes from the larger food court at 10th and Market (which has been shuttered since early June) all the way to the PATCO and SEPTA stops near the Lit Brothers building at 8th and Market.

The closure could affect a lot of people: 26,000 people use Jefferson Station and 8,900 use the 8th and Market PATCO High Speed Line station every day. The Inquirer says PREIT, the owner, expects a two-year closure, though the closure of Gallery II —10th to 11th streets — closes next year. Read more »

Eastern Half of The Gallery to Shutter in October

15COR108-GalleryPP-9thMarket

Officials from SEPTA and PATCO confirmed today that PREIT plans to shut down the eastern half of the Gallery mall on October 2nd, as the developer commences with the first phase of its $325 million vision that will eventually see it become the glossy Fashion Outlets of Philadelphia.

Jeff Gammage of The Inquirer reports that PREIT notified both SEPTA and PATCO officials of the announcement today via hand-delivered letter, which outlined the PREIT’s plan: “The first stage of demolition at the three-block mall will take place between Eighth and 10th Streets. A barricade will block access to the east, and to the stairs and escalator at 10th, which now usher people up to ground level at Market Street.”

The second phase includes work on the western portion of the mall to 11th Street, and is anticipated to begin in 2016.

So, will it be a long, cold winter for the thousands of commuters who prefer to make their way to and from Center City through the warm concourse of The Gallery?

Read more »

Headlines: The Skinny on Changes In Store for Two Philly-Area Malls

15COR108-GalleryPP-9thMarket

Is a residential component coming to 9th and Market? | Rendering; PREIT

What a weekend! But the fireworks aren’t over as starting off this Monday’s headlines are two of the retail variety: Delaware County’s Granite Run Mall and Philly’s upcoming Fashion Outlets of Philadelphia.

First up, the Granite Run Mall in Media, which the Daily Times reports is now totally vacant, save for anchors Boscov’s and Sears. The last of its former 125 retail tenants shut down last week in the face of ending leases and to follow is a demolition expected “as early as this fall, according to Michael  Markman, president of BET Investments Inc.” BET, which acquired the mall for over $24 million last year, is looking to redevelop the property for a purported $20 million.

So what’s to happen with the 58-acre site? Per the Daily Times, BET envisions it becoming a “walkable, outdoor town center” with retail (including the current anchors), restaurant, residential, and entertainment amenities. The plan would happen over two phases. The Media Borough Council will review the preliminary land development plan for the project Monday, July 27.

Read more »

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