Tag: data-marker

  • Peco buys property in Chester County, part of larger growth strategy

    Peco buys property in Chester County, part of larger growth strategy

    Peco is expanding its real estate footprint in the Philadelphia region.

    The gas and electric utility company purchased a property at 100 Chesterfield Parkway in Malvern for $5.95 million in January, according to Chester County property records. The Philadelphia Business Journal first reported the purchase.

    The building had previously been leased by Vanguard, which still has offices nearby and has been working toward moving more of its Malvern employees to the company’s main campus. The investment company most recently closed one of its Malvern offices spanning 137,000 square feet.

    Peco’s Malvern acquisition “is part of a comprehensive, multi-year strategy to support the recent expansion and future growth of our operations teams,” Peco spokesperson Matthew Rankin said Thursday.

    Administrative staff and “other support teams,” will work out of the new office, Rankin said, but did not say how many.

    The property is near Peco operations facilities, Rankin said.

    Peco’s expansion comes as the company brought in $814 million in net income in 2025, up 48% from the previous year. Exelon, the utility’s parent company, has said the increase was in part due to “favorable weather” and higher distribution rates.

    The company proposed a rate hike again this year, but quickly withdrew the proposal after backlash. Peco had said it needed to increase prices for upgrades, to meet demand, including to prepare for data centers, and increase grid reliability. The company also cited extreme weather conditions, which can damage infrastructure.

    Peco and its worker union, IBEW local 614 reached a tentative agreement on a new union contract this week, ending the company’s first worker strike in its history, which lasted three days.

  • Escape Lounges is opening a new location at the Philadelphia airport

    Escape Lounges is opening a new location at the Philadelphia airport

    A new airport lounge is landing soon in Philadelphia.

    Escape Lounges is set to open a location at the Philadelphia International Airport later this year, according to MarketPlace PHL, which manages the airport’s concessions. The lounges run on a pay-per-visit model, with food and drink included, and do not require customers to have a certain credit card.

    Escape’s 1,500-square-foot space in Terminal D will serve food and drinks, according to MarketPlace PHL, and include a bar and other seating areas that overlook the runways.

    The U.K.-based Escape Lounges operates 20 U.S. locations, including Syracuse and Providence, R.I. The lounges are open to all travelers within three hours of their departing flights, according to the company’s website.

    Someone looks at the arrivals and departures board at Philadelphia International Airport in April.

    Prices fall between $45 and $65 per person for walk-ups, while customers who pre-book online can get reduced rates starting at $32. Complimentary access is available for American Express cardholders.

    The cost includes food and drink, including wine, beer, and spirits, according to Escape. Customers also get private Wi-Fi, charging ports and outlets, printing and copy services, and PressReader, which provides digital access to more than 7,000 newspapers and magazines.

    The news comes at a time when airport lounges have become more accessible than ever — and often more crowded. A growing number of credit cards offer lounge access, and travelers without the required cards can buy day passes to most spots.

    The bar at the American Airlines Flagship Lounge at Philadelphia International Airport.

    As a result, the airport lounge market is evolving and growing, with analysts expecting it to reach $6.4 billion by next year.

    Last year at Philadelphia International Airport, Chase Sapphire opened a lounge between Terminals D and E, and American Airlines opened neighboring lounges in Terminal A-West.

    American Express and British Airways also operate lounges in Terminal A-West, from which many international flights depart.

    The airport also has a United Club between Terminals C and D, and Delta Sky Club between Terminals D and E, as well as private Minute Suites between Terminals A and B.

    Travelers walk through Philadelphia International Airport in April.

    Last year, more than 30.1 million travelers passed through Philadelphia International Airport, which is getting $500 million in upgrades.

    While the total number of 2025 passengers dropped slightly from the prior year, the airport saw a 7.5% increase in international travelers, executives said.

    It was also the first time since before the pandemic that the airport recorded two consecutive years with more than 30 million annual passengers.

  • King of Prussia Mall to get new stores including Pop Mart and Candyland Adventure playground

    King of Prussia Mall to get new stores including Pop Mart and Candyland Adventure playground

    The King of Prussia Mall is set to get several new shops and restaurants in the coming months.

    As some other retail centers struggle, die, and transform, the massive Montgomery County complex has remained a thriving shopping destination, with a wide array of retailers, dining options, and experiential concepts.

    Over the past year, the 2.9 million-square-foot mall has become home to the world’s first Netflix House — which contains a restaurant and four paid immersive experiences in an old Lord & Taylor — as well as Eataly, an Italian marketplace, and the Philly region’s first Sloomoo Institute, an interactive slime playground.

    More experiential retail is in the works. Next year, Level99 is set to open a 46,000-square-foot live social-gaming venue on the ground floor of the former JCPenney.

    The mall’s expansion comes as others in the region have become ghost towns. One of the vacant complexes, Exton Square Mall, closed Tuesday after more than six decades as a Chester County retail hub.

    Stores coming soon to the King of Prussia Mall

    By the end of 2026, the mall plans to open the following stores:

    The Pandora store will also move from the Court to the Plaza, and the David Yurman store will undergo a facelift. David Yurman will open a temporary boutique near Neiman Marcus while its permanent location is renovated.

    King of Prussia Mall Tuesday, May 10, 2016.

    New stores at the King of Prussia Mall

  • Philly has the cheapest office space of any Northeast city, report says

    Philly has the cheapest office space of any Northeast city, report says

    In the post-pandemic hybrid-work environment, Philadelphia office space remains cheaper than most other major metro areas, according to a new report from the online real estate platform Commercial Cafe.

    Asking rents for Philly offices were $31.26 per square foot on average as of May, the report found. That makes Philadelphia the only major market in the Northeast below the national average of $33.61 per square foot.

    Relative to other major U.S. markets, only Chicago, Houston, and Phoenix recorded lower average asking rents.

    Elsewhere in the Northeast, Manhattan averaged the most expensive asking rents at more than $69 per square foot, according to the report. Boston’s asking rents were around $44 and New Jersey’s were more than $35.

    Philadelphia’s 18.4% office vacancy rate, meanwhile, was slightly higher than the other Northeast markets, as well as the national average of 17.6%, according to the report.

    The analysis, released last week, reflected the broader challenges that all office markets are up against. In Philadelphia and elsewhere, the office landscape has shrunk since the pandemic, with many employers downsizing their space amid the rise of hybrid work.

    Some Center City office buildings have plummeted in value and are now becoming apartment complexes. Among them: The iconic Wanamaker Building and Centre Square, better known as the “Clothespin building” for the sculpture outside it.

    Chubb’s new 18-story tower at 2000 Arch St. may be Center City’s last new office building for a while, local industry experts say.

    Between January and May, $220 million in office sales were recorded in Philadelphia, according to the Commercial Cafe report, and $387 million in New Jersey. In the Garden State, 630,000 square feet of offices were under construction, found the report, which did not have under-construction data for Philadelphia.

    Peter Kolaczynski, the director of Yardi Research, helped compile the report, and noted the trend toward office reuse.

    “The destruction of value that we have discussed for years is showing through in the sales data,” Kolaczynski said in a statement. “With this decrease cost in acquisition comes opportunity — whether that is conversions to apartments, repositioning to best-in-class office and coworking, or full-on redevelopment and revitalization projects.”

  • Grocery Outlet is closing stores in South Jersey, Philadelphia, and Kennett Square

    Grocery Outlet is closing stores in South Jersey, Philadelphia, and Kennett Square

    Grocery Outlet bargain market is closing dozens of stores nationwide, including eight in the Philadelphia area.

    The closures were first referenced earlier this week in the company’s earnings report. The California-based grocer recorded an operating loss of $221.7 million last year, much of which it attributed to “certain underperforming stores” that will now close.

    These include five Grocery Outlets in South Jersey, two in Philadelphia, and one in Kennett Square, according to real estate marketing released Thursday.

    A company spokesperson did not return a request for comment about when the stores would close.

    The impacted Philly-area stores are located at:

    • 4004 U.S. Route 130, Delran
    • 401 Harmony Rd., Gibbstown
    • 345 Scarlet Rd., Kennett Square
    • 190 Hamilton Commons Dr., Mays Landing
    • 2017 W. Oregon Ave., Philadelphia
    • 2524 Welsh Rd., Philadelphia
    • 3174 U.S. Route 9 S., Suite 5, Rio Grande
    • 677 Berlin-Cross Keys Rd., Sicklerville
    People shop at a Grocery Outlet in Philadelphia in 2022.

    Gordon Brothers, a Boston investment firm, is looking to sublease all 36 closing Grocery Outlets. The Philadelphia-area properties range in size from 14,000 to 21,000 square feet.

    After the closures, the chain will still have several locations in the city, collar counties, and South Jersey.

    Grocery Outlet calls itself an “extreme value retailer.” It was founded in 1946, and has expanded from 128 stores to 570 stores over the past two decades. Many locations are operated by entrepreneurs who live nearby.

    In recent months, Grocery Outlet’s bottom line was impacted by economic uncertainty, as well as the November suspension of SNAP benefits that tens of millions of U.S. consumers rely on, according to president and CEO Jason Potter.

    “Consumer pressure intensified, federally funded benefits were delayed, and competition grew more promotional in the fourth quarter,” Potter said in a statement. “In response, we have begun to sharpen our focus on what matters most: delivering clearer value and a better in-store experience.”

    Customers and employees inside a Grocery Outlet in Philadelphia in 2023.

    While the grocery industry remains relatively resilient, it has faced a challenging few years with persistent inflation, tariffs that further drove up prices on some products, and continued competition from other retailers and restaurants.

    In recent weeks, Amazon closed all of its brick-and-mortar Amazon Fresh stores, including six in the Philadelphia region. The company says it plans to expand grocery-delivery services and open more Whole Foods markets, to the dismay of some Amazon Fresh customers who said they were drawn to the low prices at the smaller-format stores.

    Gourmet markets have been impacted, too. Three Di Bruno Bros. locations in Ardmore and Wayne closed last month, two years after being acquired by Wakefern Food Corp., the North Jersey-based supermarket cooperative that operates ShopRite.

    A Wakefern spokesperson said the company planned to refocus on its flagship stores in South Philadelphia and Rittenhouse, as well as its growing online business. The move, spokesperson Maureen Gillespie said, would be “a positive reset that allows us to preserve and elevate the in‑store tradition while growing the brand’s reach in meaningful new ways.”

  • People with prior convictions can work as unarmed private security guards, Philly court says

    People with prior convictions can work as unarmed private security guards, Philly court says

    Jamar Patterson, now 40, was up for a job in 2022 as an unarmed security guard.

    But the offer was rescinded when he informed his prospective employer, Allied Universal, of a previous drug conviction from when he was 19, despite having a clean record since 2005.

    Similarly, Abron Ash, 49, lost his job after his employer, McGinn Security, learned of his conviction on three misdemeanors related to a fight in 2006.

    Both lost their jobs because of a Pennsylvania law that applies to people who have been convicted of certain crimes, banning them for life from working as private unarmed security guards.

    Last week, the Philadelphia Court of Common Pleas ruled that the state’s Private Detective Act is unconstitutional.

    The ruling was the result of a 2023 civil suit Patterson and Ash filed against the Commonwealth of Pennsylvania and District Attorney Larry Krasner, whose office enforces the Private Detective Act in Philadelphia. They asked the court to block enforcement of the law.

    Krasner said in a statement Friday that he agrees with the court’s decision and will not appeal it.

    “The Private Detective Act’s extreme, irrebuttable lifetime ban on employment in private security swept too broadly constitutionally,” Krasner said. “The ruling will now open doors for qualified Philadelphians who were previously barred from entering the security industry due to old or irrelevant convictions, giving more individuals the right to work and earn a living.”

    It’s unclear whether the Philadelphia court’s ruling would eventually apply statewide.

    As of now, the decision prevents enforcement of the law in Philadelphia, say attorneys for the plaintiffs. The two men filed the suit with the help of the Public Interest Law Center and Community Legal Services (CLS) of Philadelphia.

    “I’m very excited to hear the news that I was a part of making change. It’s almost like making history — I guess it is history in Philadelphia,“ Patterson said in a statement. ”And I’m looking forward to the case becoming a part of a statewide solution.”

    Patterson’s attorneys also say more effort is likely needed to extend the ruling to the rest of the state.

    Though many states have restrictions on security guard licensing for people with criminal convictions, they often have time limits on the restriction or have processes in place for authorities to give exceptions.

    Pennsylvania’s lifetime ban, however, is among the most restrictive.

    The recent ruling means Philadelphia employers can no longer deny people jobs as unarmed private security guards because of old, minor, and “irrelevant” convictions, according to the Public Interest Law Center and CLS.

    “We have had hundreds of clients over the years who have come to Community Legal Services because they are interested in working in the security field but have been unable to do so because of old and irrelevant convictions,” said Jamie Gullen, a managing attorney at CLS.

    Gullen said the court’s decision “will open the door to opportunity for hard-working, qualified Philadelphians.”

    Ben Geffen, senior attorney at the Public Interest Law Center, said evidence showed that the law is, “over broad, unconstitutional, and does not further public safety.”

    The Private Detective Act was passed in 1953 and includes a long list of minor offenses, including many misdemeanors, that bar workers from employment in the security and protection industry for life. The convictions include simple drug possession, pickpocketing, and a catchall category of “any offense involving moral turpitude.”

    Because of those broad prohibitions, most security employers will not hire workers with any kind of conviction history, attorneys for the CLS and Public Interest Law Center said.

    Security jobs can be vital for some workers because they don’t often require a college degree and offer better wages than other entry-level work. The median annual income for a security guard is $31,470, or about $15 per hour. That’s double Pennsylvania’s $7.25 per hour minimum wage.

    Kiminori Nakamura, Ph.D., filed a report to the court on behalf of Patterson and Ash noting that the risk of recidivism for individuals with criminal history seeking such jobs is relatively low.

    Editor’s Note: This story has been updated to include a statement from District Attorney Larry Krasner.

  • New Jersey Turnpike officials to test E-ZPass stickers instead of transponders

    New Jersey Turnpike officials to test E-ZPass stickers instead of transponders

    Could the white E-ZPass transponder on your windshield become a relic?

    Well, not yet.

    But New Jersey Turnpike officials will soon test out E-ZPass stickers in turnpike authority fleet vehicles, spokesperson Tom Feeney said Wednesday. The New Jersey Turnpike Authority also operates the Garden State Parkway.

    “If there are no problems,” Feeney added, “we will make a plan to introduce them to NJ E-ZPass customers.”

    The pilot, first reported Tuesday by NJ.com, takes a cue from other states that have transitioned from transponders to stickers.

    Drivers approach the Williamstown entrance ramp to the Atlantic City Expressway in 2022.

    Both devices are equipped with digital chips, which are read by overhead gantries on the highways. The technology allows drivers to keep moving and be digitally charged for tolls.

    This week, the Massachusetts Department of Transportation rolled out E-ZPass stickers, free of charge for new customers and those who need to replace their transponders, according to several local news reports.

    Massachusetts officials estimate the switch will save the state more than $7 million a year, since the stickers’ production cost is a fraction of the cost of the transponders, according to a recent report from WBUR, the Boston NPR affiliate.

    In New Jersey, officials spent $8.4 million in 2022 to replace the batteries of 920,000 E-ZPass transponders, according to NJ.com.

    News of the Garden State’s E-ZPass sticker test comes two months after the Atlantic City Expressway went cashless, with the Garden State Parkway and the New Jersey Turnpike set to follow. Across the river, the Pennsylvania Turnpike has been cashless since 2020.

  • A Cherry Hill apartment complex, the last piece of the billion-dollar racetrack redevelopment, is for sale

    A Cherry Hill apartment complex, the last piece of the billion-dollar racetrack redevelopment, is for sale

    The Plaza Grande apartment complex, part of a Cherry Hill housing development that took almost two decades to complete, is now on the market.

    The apartments in the 55+ housing complex near the former Garden State Park Racetrack were listed for sale last month, as first reported by the Philadelphia Business Journal. The 507 rental units across 16 buildings are located just south of the Cherry Hill Mall between Routes 70 and 38 and were completed last year.

    The residential Plaza Grande at Garden State Park was the last piece of a $1 billion redevelopment of the former Garden State Park horse racing track and surrounding area. The mixed-use complex spans hundreds of acres and is known for Wegmans, Trader Joe’s, restaurants, and other stores.

    Home construction at the 34-acre Plaza Grande portion began in 2007, and 101 condos were built. But several builders failed to finish the project in the face of hurdles that included the Great Recession and lawsuits.

    A few years ago, New York-based investor and developer William “Billy” Procida stepped in. He completed construction on the remaining 283 of the 507 apartments last summer, and the units are now 80% leased.

    And it’s time to sell, said Procida, president and CEO of Procida Funding & Advisors.

    “We’re not in the business of holding property,” he said. “But this one, I put so much blood, sweat, and tears in it, it’s a hard one to let go.”

    Developer William “Billy” Procida poses in the lobby of the clubhouse at Plaza Grande at Garden State Park in Cherry Hill on Aug. 6, 2025.

    He said he’d like to find a buyer “who’s going to treat it really nice.”

    Offers are due in a month, said Samantha Kupersmith, senior director at JLL Capital Markets, which is handling the sale. The property listing does not include an asking price, as is generally the case for properties JLL handles, she said.

    The property is in “such a good location with a lot of scale,” which makes this “a unique deal,” Kupersmith said.

    The Plaza Grande, the listing says, “capitalizes upon the large and growing demand for rental housing from aging Baby Boomers​.”

    One- and two-bedroom apartments at the Plaza Grande are currently available starting at $2,200 and $2,800 per month, respectively. Five three-bedroom apartments started at $5,500 but all are leased.

    The property has an 18,500-square-foot clubhouse and offers programming such as cooking and fitness classes, concerts, and wellness events. Condo owners and renters have access to amenities that include a movie theater, a gym, tennis and pickleball courts, indoor and outdoor pools, and indoor golf.

    Procida’s company announced last month that it had chosen Millstone Property Management to oversee operations at the apartment complex starting March 21. Millstone Property Management specializes in managing multifamily properties across Pennsylvania, New Jersey, Delaware, and Florida.

    The newest rental apartments at Plaza Grande at Garden State Park in Cherry Hill are reflected in the clubhouse pool on Aug. 5, 2025.
  • Breeze Airways is expanding again at the Atlantic City Airport

    Breeze Airways is expanding again at the Atlantic City Airport

    The Atlantic City International Airport will soon offer even more southbound flights.

    Breeze Airways, a budget carrier founded in 2021, is set to add direct flights between A.C. and Tampa twice a week starting this summer, the company announced Tuesday.

    The routes will be offered on Wednesdays and Saturdays beginning July 1, according to Breeze, and fares for a one-way ticket will start at $79 per person.

    The airline announced the new route to and from the Jersey Shore along with more than a dozen other nonstop flights nationwide.

    Breeze Airways is adding nonstop flights from Atlantic City to Tampa twice a week starting in July.

    “The addition of these new cities and routes will give even more travelers the opportunity to save precious hours that would otherwise be spent flying through hubs or driving,” David Neeleman, Breeze Airways’ founder and CEO, said in a statement, noting his company’s mission to offer affordable airfare in underserved markets. Neeleman has founded four other airlines, including JetBlue.

    Last month, Breeze announced new nonstop service from Atlantic City to Charleston, S.C., and Raleigh-Durham, N.C., as well as a flight to Tampa, Fla., that includes a stopover.

    The Charleston flights are set to be offered on Wednesdays and Saturdays starting May 6. And the Raleigh-Durham and stopover Tampa routes are scheduled for Thursdays and Sundays starting June 11.

    All Breeze flights out of Atlantic City can be booked online now at flybreeze.com.

    Breeze Airways is a private company, so it is not required to publicly report its finances. Last year, however, the airline announced that it had turned a profit for the first time in the fourth quarter of 2024, a period in which the company generated more than $200 million in revenue.

    The Utah-based carrier has expanded in recent years, now operating more than 300 routes, including seasonal flights, to 86 cities in the U.S., Mexico, and the Caribbean.

    Breeze is one of only a few major airlines that operate a dozen or so flights in and out of Atlantic City every day, depending on the season.

    Last year, Allegiant Air started offering flights from A.C. Spirit Airlines, meanwhile, has trimmed its flight schedule from the airport, a move that resulted in the 2024 decision to shut down its crew hub there.

    American Airlines allows passengers to go through security in Atlantic City and then get on a bus to catch flights at the Philadelphia International Airport.

  • QVC Group faces $30 million ‘unjustified termination’ lawsuit after report of potential bankruptcy

    QVC Group faces $30 million ‘unjustified termination’ lawsuit after report of potential bankruptcy

    QVC Group has been hit with a $30 million lawsuit amid broader financial problems for the West Chester-based home shopping network.

    The company is considering filing for Chapter 11 bankruptcy to reorganize billions in debt, Bloomberg reported last week.

    Antthony Mark Hankins, a Savannah, Ga.-based fashion designer who had a 31-year on-air career with HSN until he was terminated in July, filed the lawsuit last week against the network and its parent company, QVC Group, according to federal court documents.

    Hankins seeks at least $30 million in damages for what his attorneys describe in the documents as an “abrupt and unjustified termination” that “reflects a pattern of discriminatory treatment, retaliatory conduct, and operational mismanagement.” The lawsuit is filed in the U.S. District Court for the Eastern District of Pennsylvania.

    QVC Group spokespeople and general counsel did not return requests for comment. HSN operated out of a studio in St. Petersburg, Fla., until about a year ago, when it moved to QVC’s West Chester campus.

    A show is filmed at QVC’s studios in West Chester in 2023.

    Between 2023 and 2025, HSN executives reduced Hankins’ airtime and decreased promotion of his brand, Antthony Design Originals, to focus on a “TikTok-centered business model,” according to the designer’s lawsuit. As a result, he says his gross sales last calendar year were $13.24 million, more than $2 million less than projected. When he was more supported by the network, he said, his sales outperformed expectations.

    Hankins, who is Black, also says the company discriminated against him based on race, including by promoting him more heavily during Black History Month, firing him without cause, and immediately pulling him off the air despite decades of strong performance, according to the lawsuit.

    In the documents, Hankins also alleges breach of contract, defamation, interference with third-party business relationships, and misappropriation of his name and likeness in advertisements.

    In a Facebook post on his business page, Hankins said the lawsuit “is about standing up for the values my brand was built on, protecting my legacy, and ensuring that fairness and accountability matter — especially for creators who have given decades of their lives to their work.”

    Hankins’ attorney, Samuel B. Fineman of Semanoff Ormsby Greenberg & Torchia in Huntingdon Valley, did not return a request for additional comment.

    A QVC logo is shown outside its studios in an undated file photo. The company has been based in West Chester for more than 30 years.

    QVC has been based in West Chester for more than three decades, and merged with HSN as part of a $2 billion deal in 2017.

    The networks’ parent company, which rebranded as QVC Group last year, has struggled recently amid stiff competition from e-commerce and social-media platforms like TikTok Shop.

    Its revenue and operating income have been on the decline, and fewer people are shopping. As of September, about 7 million customers had made a purchase on the networks in the past year, down from 8.1 million in fiscal year 2023.

    The company is set to release its fourth quarter 2025 earnings report next week.

    According to Bloomberg’s report last week, company executives were talking with creditors about a potential bankruptcy, but had not made a decision on whether to file.

    A search for “QVC Group” in online court records did not show any bankruptcy filings as of Wednesday.