Grocery in Focus: Sprouts Farmers Market, Trader Joe’s, and Giant announced new Philadelphia-area stores in Q3 2019. Lidl and Giant Heirloom Market opened new stores.
King of Prussia: Upper Merion approved Topgolf’s 23.6-acre proposed development site. Warby Parker became the latest digitally native retailer to open at the King of Prussia Mall.
Store Openings, Closings: CarSense opened a Glen Mills used automotive superstore. Kmart will close five stores in the Philadelphia MSA.
Development Pipeline: Fashion District Philadelphia debuted, but suburban Philadelphia was without retail construction completions in Q3 2019.
Capital Markets: Capital markets activity remained slow. Two big boxes, an urban high-street retail condo, a grocery-anchored shopping center, and a single-tenant net-lease property accounted for Q3 2019’s top five sales.