MOM's Organic Market, which operates 10 small-format organic food stores in the Baltimore/Washington area, plans to open its first Pennsylvania location in Bryn Mawr's Rosemont Square. At 17,000 square feet, it will be MOM's largest store and will include an all-organic cafe called Naked Lunch.
Rosemont Square, once home to Borders bookstore, has been undergoing renovations and a farmers' market is slated for a spring opening.
Showing posts with label Borders. Show all posts
Showing posts with label Borders. Show all posts
Thursday, January 9, 2014
Wednesday, October 10, 2012
Retail vacancy rate declines in North/Central New Jersey
Although The Goldstein Group says that retail vacancies along highways in Northern and Central New Jersey dropped to its lowest level in three-and-a-half years this summer, their report notes that it's still a tenant's market. The vacancy rate dropped to 7.7% (from 7.9%), but 7.6 million square feet of empty space remains along 22 highway corridors tracked by the company.
"Opportunistic retailers are... taking advantage of market conditions," according to The Goldstein Group President Chuck Lanyard, who expects the decline in the vacancy rate to continue in the near future.
According to the report, Northern and Central New Jersey's vacancy rate is well below the 13.5% national average for retail corridors.
Tenants that helped the rate decline include Fairway Market, which took over a former Pathmark store in Woodland Park, and DSW Shoes, which now occupies a former Borders Book store in Ramsey. A new PGA Tour Superstore will fill a 57,000 SF former Einstein Moomjy store next year in Paramus, which should help lower the 2013 rate.
"Opportunistic retailers are... taking advantage of market conditions," according to The Goldstein Group President Chuck Lanyard, who expects the decline in the vacancy rate to continue in the near future.
According to the report, Northern and Central New Jersey's vacancy rate is well below the 13.5% national average for retail corridors.
Tenants that helped the rate decline include Fairway Market, which took over a former Pathmark store in Woodland Park, and DSW Shoes, which now occupies a former Borders Book store in Ramsey. A new PGA Tour Superstore will fill a 57,000 SF former Einstein Moomjy store next year in Paramus, which should help lower the 2013 rate.
Monday, July 18, 2011
It's the end of the road for Borders
According to reports, Borders has failed to reach an agreement with one of its bidders who had made an offer to keep the company running. The result will be the closure of its remaining 399 stores, including 12 in the Philadelphia region. Borders had filed for bankruptcy protection earlier this year.
The chain's assets will most likely be purchased by Hilco Merchant Resources and Gordon Brothers Retail Partners, who will then liquidate the assets. An objection to the sale, which must be approved by the bankruptcy court, has already been filed by creditors, who say the transaction will leave no one to assume the company's business contracts.
Borders has 10,700 employees, and a phased rollout of closures will run through September.
As for Borders rival Barnes & Noble, the company reported a loss of $59.4 million for its fiscal fourth quarter, as well as a $74 million loss for fiscal 2011. The losses come despite the fact that online sales at BN.com increased 50% for the fiscal year, and overall company sales reached a record $7 billion for the same period. Barnes & Noble received a $1 billion takeover offer in May from Liberty Media Corp., owner of West Chester-based QVC.
The chain's assets will most likely be purchased by Hilco Merchant Resources and Gordon Brothers Retail Partners, who will then liquidate the assets. An objection to the sale, which must be approved by the bankruptcy court, has already been filed by creditors, who say the transaction will leave no one to assume the company's business contracts.
Borders has 10,700 employees, and a phased rollout of closures will run through September.
As for Borders rival Barnes & Noble, the company reported a loss of $59.4 million for its fiscal fourth quarter, as well as a $74 million loss for fiscal 2011. The losses come despite the fact that online sales at BN.com increased 50% for the fiscal year, and overall company sales reached a record $7 billion for the same period. Barnes & Noble received a $1 billion takeover offer in May from Liberty Media Corp., owner of West Chester-based QVC.
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