Monday, November 10, 2014

Whole Foods planned for Ellis Preserve in Newtown Square

by Natalie Kostelni, Staff Writer for the Philadelphia Business Journal

Whole Foods Market has signed a lease at Ellis Preserve in Newtown Square, Pa., and will serve as the anchor for the first phase of the retail portion of the 210-acre mixed-use development.
The grocer leased 41,700 square feet and the store will have direct access from Route 3 and Winding Way.

Equus Capital Partners, the Philadelphia developer of Ellis Preserve, plans to construct a total of 114,000 square feet of retail space in the first phase. A portion of that space will be occupied by Whole Foods and the remaining 72,300 square feet will be leased to other tenants.
Equus will seek to fill that space with a "high-end mix of shops and restaurants," said Steven Spaeder of Equus Capital. "Whole Foods use and the architecture will set the tone. Walnut Street will be our prospecting turf."

The first phase will also include constructing a 127-room hotel. Work is scheduled to begin on the project in the spring.

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