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Mall Owners Simon and Brookfield to acquire J.C. Penney
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J.C. Penney has reached a tentative deal to sell its business and stores to a group of mall owners and lenders in a move that would save the department store […]
Read More....PREIT drops plan for sale-leaseback of Moorestown Mall
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The financially ailing owner of Moorestown Mall has terminated a plan to raise funds through the sale-leaseback of the shopping center. Philadelphia-based PREIT had hoped to raise $153.6 million through […]
Read More....New York’s Durst Selected to Develop Penn’s Landing
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The Durst Organization of New York has been selected to redevelop Penn’s Landing, likely ending efforts by the 76ers to build themselves a new basketball arena there. The board of […]
Read More....76ers to Decide on Penn’s Landing Facility
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The nonprofit overseer of development along central Philadelphia’s Delaware River waterfront could decide as soon as Wednesday on a bidder to remake Penn’s Landing into a new district of apartment […]
Read More....PA Restaurants Can Expand to 50% Occupancy On 9-21
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Pennsylvania restaurants will soon be able to double their indoor occupancy to 50% capacity, Governor Tom Wolf announced Tuesday. Restaurants may increase indoor occupancy from 25% to 50% of capacity […]
Read More....Unemployment Rate Falls to 8.4%
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Nonfarm payrolls increased by 1.37 million in August and the unemployment rate tumbled to 8.4% as the U.S. economy continued to climb its way out of the pandemic downturn. The […]
Read More....Wolf Calls for Cannabis Legalization in PA
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Governor Tom Wolf and Lt. Governor John Fetterman called on the legislature to take up the legalization of adult-use cannabis to help with the state’s economic recovery amid COVID-19. Legalization […]
Read More....NJ To Allow Indoor Dining for Labor Day Weekend
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New Jersey restaurants will be allowed to resume indoor dining starting Friday, Governor Phil Murphy announced Monday. Movie theaters and other performance venues can also reopen with restrictions. Restaurants will […]
Read More....PA to Auction Casino Mini-License Again
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Pennsylvania’s auction last year for a license to operate a new “mini-casino” attracted zero bidders willing to pay a minimum of $7.5 million to open a satellite gaming outlet. Yet […]
Read More....N.J. Restaurants to Resume Indoor Dining
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New Jersey bars and restaurants will be allowed to reopen their indoor dining sections with restrictions ahead of the Labor Day weekend, Gov. Phil Murphy announced Monday morning. Restaurants can […]
Read More....Center City Building Eyed for Sports Betting
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Six local businessmen are zeroing in on 24,000 square feet in Center City for what they are dubbing as Philadelphia’s largest restaurant and the sports betting parlor of the future. […]
Read More....Lord & Taylor Closing After 194 Years
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Lord & Taylor, the first department store established in the United States, is officially going out of business, ending a nearly 200-year run. The bankrupt company announced Thursday that all […]
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