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The 750,000-square-foot office building at 2201 Valley will include 10,000 square feet of retail and arts spaces, occupying a full city block between Telegraph Avenue, Valley, West Grand Avenue and 22nd Street.
The lease with Michaels arts and crafts store combines with the arrival of two new dynamic dining offerings, Hash House A Go Go and Joe Italiano's Maplewood and the mall in South Jersey, about 15 miles from Center City Philadelphia.Lease executed with Michaels to complete anchor redevelopment, delivering diverse offerings
“2018 was a year of market evolution,” CBRE's LaRusso said in the retail report. “Rents are broadly down and activity in the market continues, with tenants currently in the dominant negotiating position."
ScanlanKemperBard has plans to further elevate the stature and improve the bustling Original Rainier Brewery property, while maintaining its historic integrity.
The location, on the second floor of the mall near Forever 21 and Nordstrom's, will focus on startups, small businesses, retail and e-commerce incubation initiatives, revolutionizing the mall model.
There is a premium associated with more infill, higher barrier to entry submarkets as seen with the Arlington, TX location of the 63,124-square-foot Albertsons, which recently sold to a private investor.