PHILADELPHIA, PA—Eric Blumenfeld's EB Realty Management, which is redeveloping several historic properties in previously blighted areas of North Broad Street, has hired CBRE to seek retail tenants for more than 35,000 square feet of retail space within the redevelopment projects at The Divine Lorraine, The Met Opera House, The Studebaker Building, and the Mural Lofts. Larry Steinberg, senior vice president with CBRE, will spearhead the project.

“We hired CBRE because they share our vision for North Broad,” says Blumenfeld. “We believe a second Golden Age is unfolding here, and Larry Steinberg and his team can deliver exciting retail tenants to our projects.”

This is part of a long-term revival plan for North Broad, helped in part by a $15 million grant from Philadelphia Parks and Recreation.

“This is an exciting opportunity for the City of Philadelphia,” says Steinberg. “North Broad is poised for a retail revitalization, and the investment by the City and the positive response from developers is a great indication of the bright days ahead for this corridor of the city.”

EB Realty has been the most active developer investing in North Broad, successfully delivering residential and commercial development projects such as the mixed-use conversion of 640 N. Broad which includes Marc Vetri's popular Osteria restaurant on the ground floor and high-end apartments above. For this next phase of redevelopment ventures, EB Realty has partnered with William “Billy” Procida of Procida Funding who has committed more than $50 million to North Broad's revival.

Instant Insights /

CBRE Leasing Retail at Blumenfeld's North Broad Street Projects

Related Stories

Recommended For You