Advance Auto Parts is closing over 700 stores and four distribution centers as part of a major restructuring plan announced during its third-quarter earnings report. The company, based in Raleigh, North Carolina, reported a drop in net sales to $2.1 billion from $2.2 billion last year, with a 2.3% decline in comparable store sales. The… Read more »
New Jersey’s retail market remains tight, driven by limited new construction and strong demand fueled by steady consumer spending. Over the past five years, the state added 8.8 million square feet of retail space, a 1.7% increase since 2019. High demand has kept occupancy rates above 96% throughout the year. Net absorption reached 2.1 million… Read more »
This Halloween season brings retail twists as chains nationwide aim to boost sales of costumes and spooky items. Party City, emerging from bankruptcy about a year ago, is gearing up to compete with Spirit Halloween’s extensive network of over 1,500 pop-up stores. It also faces competition from discounters like Walmart, Target, and Big Lots, e-commerce… Read more »
Gillian’s Wonderland Pier, the nearly century-old amusement park on the Ocean City Boardwalk, will close at the end of summer due to its “no longer being a viable business,” according to Jay Gillian. Known for its iconic Ferris wheel, the park has been a family-operated landmark but has struggled financially in recent years. Gillian, who… Read more »
Chipotle Mexican Grill is opening its first restaurant here, adding to a commercial corridor that has attracted several fast-food chains. The restaurant, located at 1025 West Landis Avenue, is set to open on Thursday. It features a drive-thru “Chipotlane” for digital orders but does not include a traditional drive-thru window. Employee benefits include a crew… Read more »
The Zallie ShopRite family is celebrating its 50th anniversary with major projects. Construction for the new ShopRite of Cherrywood Plaza in Gloucester Township, NJ, is set to begin this August. The project will transform the former K-Mart on Blackwood-Clementon Road into a 90,000-square-foot state-of-the-art supermarket, expected to open in 2025 with the latest industry features… Read more »
The well-known PJ Whelihan’s restaurant brand has set its sights on Deptford, New Jersey, for its next location. They are working on finalizing agreements to take over the Joe’s Crab Shack property in the Deptford Landing (Sam’s Club) complex on Clements Bridge Road. *Article courtesy of 42 Freeway For more information about South Jersey retail… Read more »
A Korean fried chicken chain, already established in Philadelphia and surrounding counties, eyes expansion into South Jersey. Bonchon, headquartered in Dallas, Texas, seeks franchisees to drive growth in the area. Known for its hand-battered, double-fried chicken coated in signature soy garlic or spicy sauces, Bonchon also offers a range of Korean comfort foods, including fried… Read more »
Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 2932 Haddonfield Road, Pennsauken, NJ 08110. The Pennsauken property is available for sale. The property holds +/- 2,252 sqaure feet situated on 2.78 acres that could be utilized by land and retail… Read more »
Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for Mount Ephraim Plaza located at 2780 Mount Ephraim Avenue, Camden, New Jersey. The Camden property is available for sale. The property has +/- 14,537 square-feet of space that could be utilized by… Read more »
