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.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
