Whole Foods Eyes Fishtown For Small-Format Store: The Philadelphia Deal Sheet
Whole Foods is considering the addition of another relatively small location in Philadelphia as part of a mixed-use development.
Fishtown Collective, the developer behind a project at 1716 Frankford Ave., presented plans to neighbors Tuesday night that included a 9,400 SF Whole Foods on the ground floor, the Philadelphia Business Journal reported.
The proposal would require the creation of a 24-hour loading zone. It remains unclear if the proposed location would be part of Whole Foods’ Daily Shop format, which features more compact footprints, but the proposed space is much smaller than the 25K SF to 50K SF spaces the chain usually occupies.
Last month, Whole Foods signed a lease for a Daily Shop location at the corner of South and 23rd streets in Fitler Square.
PEOPLE
California-based property owner KBS has named Katy Grober the new investment manager for its mid-Atlantic holdings, which includes Philadelphia and D.C. She previously worked at the company from 2013 to 2024 and returned earlier this year following a stint at D.C.-based Douglas Development Corp.
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Tommy Ciccarone has joined Avison Young as a principal in the brokerage’s Philadelphia office with a focus on the city’s suburbs. He came from Bennett Williams Commercial, where he specialized in sales and leasing.
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Philadelphia-based Kadean Construction has added two new members to its industrial business unit. Derek Preston was tapped as industrial director following his tenure at T&T Construction, and Caroline Holmes joined as a project development manager after leaving Link Logistics.
SALES
Wells Real Estate Investments purchased the 44K SF, 100% leased Milford Landing Plaza shopping center in Pike County from CenterPoint Properties for $12.8M via a 1031 exchange. A Colliers team including Jeff Algatt, Derek Zerfass and Scott Horner represented the seller.
CONSTRUCTION AND DEVELOPMENT
Princeton-based Pine Street Ventures LLC proposed 57 affordable senior housing units and a 2,600 SF commercial building at 501 Evesboro-Medford Road in Evesham, 70and73 reported. Fieldstone Associates Limited Partnership previously had plans to build 91 mostly market-rate apartments on the lot.
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Hudson Valley Property Group celebrated its completion of $48M worth of renovations at the 321-unit Encore in Camden last week. The renovation of the 21-story affordable housing complex, formerly known as Northgate One, added new amenities including a fitness center, business center and community room.
FINANCING
Buccini Pollin Group has secured a $70.3M loan from HPS/BlackRock to refinance the Press, a 243-unit apartment building at 801 N. Orange St. in downtown Wilmington, the Philadelphia Business Journal reported. It will replace construction financing for the $90M project provided by Valley Bank and Mavik Capital.
THIS AND THAT
American Tower has canceled its proposal for a 17K SF data storage facility on 17 acres in East Greenwich, Gloucester County, in the wake of significant public opposition. Mayor Jim Philbin announced the news in a social media post.
