Center City
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Philadelphia’s Braithwaite Communications Acquired By Atlanta-Based Arketi Group in Major PR Deal
Braithwaite Communications, a longtime Philadelphia-based public relations and marketing agency, has officially been acquired by Atlanta-based Arketi Group, writes Jeff Blumenthal for the Philadelphia Business Journal. This acquisition marks a significant shift in Philadelphia’s communications landscape. Founded in 1998 by Hugh and Carolyn Braithwaite, the firm has built a reputation in Philadelphia for strategic storytelling,…
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Historic Boyd Theatre Marquee At Risk As Owner Seeks to Modernize Philadelphia Landmark
The Boyd Theatre has survived closure, a preservation battle, and the demolition of most of its auditorium, but now its iconic marquee may be next to go. Pearl Properties, which owns Philadelphia’s last great downtown movie palace, wants to remove the theater-style marquee and modernize the recessed storefront, writes Jake Blumgart for The Philadelphia Inquirer.…
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French Food Giant Bonduelle Americas Chooses Philadelphia for New Growth Hub
French food giant Bonduelle Americas has chosen to plant roots in Philadelphia, betting that the city has what it takes to fuel its American ambitions in the booming plant-based food market, writes Paul Schwedelson for the Philadelphia Business Journal. Philadelphia was ultimately chosen as the destination for its new growth hub after evaluating more than…
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Inside A Philly Architect’s Mission to Revive Market East Through A Rethinking of Retail
Market East, like many commercial corridors in Philadelphia and throughout the nation, has seen an increasing amount of empty storefront. With e-commerce becoming a more prevalent entity, it’s forcing those in the retail industry to find new ways of thinking about retail. This summer, six pop-up storefronts will be opening up at Market East as…
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Demand Outpaces Supply as Center City Apartment Vacancy Falls
Apartment vacancy in Center City continues to decline even as developers accelerate conversions of distressed office towers into hundreds of new residential units, writes Paul Schwedelson for the Philadelphia Business Journal. “There’s certainly tremendous amount of demand for people to live here in Center City,” said Alterra Property Group Principal Connor Burke. “We’ve seen that…
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Philadelphia Parking Authority Unveils New Transportation Center, Open May 1
Philadelphia residents, travelers, and visitors will soon have a new transportation center to go to at the site of a shuttered bus terminal in Center City, writes Hayden Mitman for NBC10 Philadelphia. The center officially opened on Friday, May 1, the Philadelphia Park Authority’s new transportation center is the culmination of a yearslong ordeal. After…
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Center City Retail Rebounds, But Still Short of Pre-Pandemic Peak
Vacant retail spaces in Center City have declined in recent months, but occupancy still remains below the pre-pandemic peak in 2019, writes Ariana Perez-Castells for The Philadelphia Inquirer. According to a new survey released by Center City District, 84.2 percent of retail spaces in Center City are currently filled, an improvement from six months ago…
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One of Nation’s Largest Search Firms Acquires Philadelphia-Based Howard Fischer Associates
Howard Fischer Associates, a Philadelphia executive search firm, has been acquired by executive search firm giant ZRG, writes Jeff Blumenthal for the Philadelphia Business Journal. According to founder and CEO Howard Fischer, while he wasn’t necessarily looking to sell, when taking into account his business plan for the future, the firm saw a need to…
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Iron Hill Brewery Location in Center City Set for April 19 Reopening
Iron Hill Brewery is getting back on its feet just seven months after filing for bankruptcy and abruptly closing all its locations, as its first reopening is just days away, writes Erin McCarthy for The Philadelphia Inquirer. The location on Market Street in Center City is set to reopen at noon on Sunday, April 19.…
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Thena Hotel in Center City Goes Up for Sale
Thena Hotel, a boutique property in Center City, has been put up for sale with an asking price listed at $2.62 million, writes Emma Dooling for the Philadelphia Business Journal. Currently owned by RTE Properties, this is the first time the hotel has been put up for sale since the Philadelphia-based firm acquired it for…
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Drexel’s Center City Medical Office Building Could Become 90 Apartments Under New Owner
Drexel University has a deal in place to sell a Center City medical office building that already has permits approved for conversion into apartments, writes Ryan Mulligan for the Philadelphia Business Journal. The Arnold T. Berman Building is already under agreement, according to a Drexel spokesperson, although the university did not provide any further details.…
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WSJ: Philadelphia Startup Raises $30M Towards Mission to Transform Rail Industry
Philadelphia startup Voltify, which was founded on the vision of transforming the rail industry by decarbonizing it, has raised $30 million in seed funding towards that mission, writes Rhiannon Hoyle for The Wall Street Journal. With the new funding, the startup will be able to conduct a paid pilot with a Class 1 railroad to…
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Historic Witherspoon Building in Center City to Become 186-Unit Apartment Complex
After serving as Presbyterian Church offices and later as short-term rentals, the historic Witherspoon Building in Center City is being turned into a 186-unit apartment complex, writes Jake Blumgart for The Philadelphia Inquirer. SSH Real Estate, which owns the 11-story building that dates back to 1896, decided to discontinue short-term rentals after hospitality operator Sonder…
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Centre Square Office Complex Sale Reaches Deal, Redevelopment Planned in Next Steps
The 1.76 million-square-foot Centre Square office complex is set to be acquired by PMC Property Group and Dean Adler, who make to redevelop the two towers into a residential project, writes Paul Schwedelson for the Philadelphia Business Journal. The partners are planning to convert the office towers, which is mostly vacant, into a high-end hotel…
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Philadelphia Hotel Rises 116 Spots in Annual Ranking, Two Others Drop Considerably
U.S. News & World Report has released its latest annual ranking of the top 100 hotels in the nation, and while the region had a weaker performance than year’s past, one Philadelphia hotel moved up considerably, writes Emma Dooling for the Philadelphia Business Journal. The Four Seasons Hotel Philadelphia moved up 116 spots from No.…
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Long-Vacant LOVE Park ‘Flying Saucer’ Could Soon Gain New Life By This Spring
The Love Park Welcome Center, the Philadelphia landmark, has been vacant for over a decade, but that could soon change by the spring, writes Tom MacDonald for WHYY. The “flying saucer” closed in 2021 when LOVE Park underwent a complete renovation. At the time, the post-renovation plan was for the structure to become a restaurant.…
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After Sonder’s Collapse, Witherspoon Building Returns to Long-Term Rentals
The 186-unit Witherspoon Building has transitioned from short-term rentals into a more traditional leasing model following the sudden collapse of Sonder Holdings, writes Emma Dooling for the Philadelphia Business Journal. SSH Real Estate, which owns the Center City building in partnership with Young Capital, is now repositioning the property as a traditional rental asset. According…
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Comcast Nears $117.5M Settlement Deal in Yearslong Data Breach Lawsuit Proceedings
Comcast has reached a $117.5 million deal to settle 24 class-action lawsuits stemming from a 2023 data breach that might have impacted more than 30 million customers, writes Abraham Gutman for The Philadelphia Inquirer. The agreement received preliminary approval from a federal judge earlier this month. If the current terms of the agreement gets fully…
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