PAOLI, PA-Six new tenants have signed leases for an aggregate of 16,000 sf at Paoli Village Shoppes. Together, they represent 60% of the 26,925-sf retail component of this seven-building landmark, which also includes office space.The center is always well leased, according to Cathy Agnew, sales associate with Plymouth Meeting-based Fameco Real Estate, who represented the owner in all six negotiations. “A post office gave back space, and there were some expirations, which allowed for a re-merchandising of the center,” Agnew tells new tenants are Cutter’s Mill: the Natural Pet Place with 7,500 sf; Penn Liberty Bank with 2,310 sf; Plato’s Closet, 2,000 sf; It’s A Grind coffee house, 1,403 sf; Home Cooked, 1,870 sf, and Snappy Auctions, 912 sf. It’s A Grind and Cutter’s Mill will open this October. Just one 1,400-sf space remains vacant.The Paoli location is one of the Long Beach, CA-based, approximately 136-unit It’s a Grind company’s first locations in Pennsylvania. Fameco represented the upscale coffee house in this lease negotiation, and another unit is scheduled to open later this year in Lancaster.Paoli Village Shoppes is 40 years old and consistently well maintained, Agnew says. It is located in the heart of the central business district and next to a Septa regional rail station. The owner is a locally based two-family limited partnership.Agnew declines to disclose the rental rate. According to second-quarter data from the Philadelphia office of Marcus & Millichap, the average asking retail rent rate throughout the Greater Philadelphia market is $19.60 per sf, up 3.5% from a year ago. The report also projects an increase to an average of $20.11 per sf by year-end.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.