Aerial View is a weekly industry recap that provides a snapshot of relevant retail news from around the nation and in our region.
National View
Second-hand retailers score during recession
Retailers catering to the second-hand market are booming as cash strapped consumers seek bargains.
http://www.reuters.com/article/marketsNews/idCNN0214223920091005?rpc=44
Retailers May Have a Cheerier Holiday Season to Look Forward To
The 2008 holiday was the worst showing in more than 30 years, but retailers are heading into this holiday season with a more positive outlook. The shopping season might prove to be cheerier for retailers as consumers get comfortable with the economy and start spending.
http://www.moneymorning.com/2009/10/01/retailers-holiday-season/
10 Retailers Gaining Strength From the Recession
The recession has devastated the retail industry. Consumers stopped shopping, put away credit cards and started paying off their debts. Some retailers are toughing it out better than their competitors as they offer products that appeal to consumers trying to save money.
Regional View
World Café Live coming to Delaware
Philadelphia’s World Café Live is set to expand into Wilmington, Delaware. A 400 seat live music venue with separate restaurant and bar is envisioned. World Café will be the centerpiece in the revitalization of Market Street, in the city’s downtown section and is expected to open in 2011.
http://philadelphia.bizjournals.com/philadelphia/stories/2009/09/28/daily48.html#
Philadelphia City sales tax rises to 8%
As of Thursday October 8th, Philadelphia sales tax jumped to 8 cents on the dollar. This temporary tax increase is set to last five years and does not include food, clothing or medicine.
http://www.philly.com/philly/news/homepage/20091008_City_sales_tax_rises_to_8__today.html
Giant to open largest store to date in Harrisburg area
On October 28th Giant will open a 97,700-square grocery store in the Blue Mountain Commons Shopping Plaza in Harrisburg, PA. This will be Giant’s third Super Food Store and will replace the store in the Oakhurst Plaza, which will close on October 27th.
Fameco View
Fameco is pleased to report that its newly formed Distressed Asset Group was featured in a recent Philadelphia Business Journal article. The Group is actively involved with several financial institutions in helping them stabilize assets they control. Working in conjunction with Fameco Management Services whose property management portfolio exceeds 11 million square feet nationally, Fameco is providing leasing, management and brokerage services to these clients.
Real estate companies seeking distressed property work
Philadelphia, PA 633 W Germantown Pike, Suite 200 Plymouth Meeting, PA 19462 Phone: 610-834-8000 Fax: 610-834-1793 |
Woodbridge, NJ 555 US Highway 1 South, Suite 400 Iselin, NJ 08830 Phone: 732-526-9100 Fax: 732-526-9101 |
The Power of Retail
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