By Paul Schwedelson – Reporter, Philadelphia Business Journal
As soon as Big Lots filed for Chapter 11 bankruptcy protection last September, property owner Roberto Pupo received unsolicited interest in leasing the retailer's location in Northeast Philadelphia.
The owners heard from national companies and grocery stores. Perna and Pupo considered chopping up the 23,774 square feet to accommodate multiple tenants. Ultimately, a single user emerged from within the Somerton neighborhood.
ASR Food Market, a family-owned Halal food market a block away, signed a long-term lease to backfill the entire Big Lots space at 15501 Bustleton Ave., just south of County Line Road and Philadelphia’s border with Bucks County, and plans to move in by September. With the move, ASR Food Market is quadrupling its space and breathing new life into the 75,000-square-foot shopping center. The food market currently occupies approximately 6,000 square feet at a former Wawa at 14101 Bustleton Ave.
“What you want in the center is a mix of complementary tenants,” Perna said. “This is a large space. Some of it is also going to be a draw to help generate activity for the other tenants.”
Other tenants at the shopping center include The Edge Fitness Clubs, Integrated Medical Care and Vibe DanceSport.
At its current location, ASR Food Market is open daily from 6 a.m. to 11:30 p.m., lengthy hours that were a selling point to Pupo, who moved to the U.S from Italy at age 17 and owns RP Jewelers at 717 Sansom St. on Jewelers’ Row in Old City.
“Somebody that works 18 hours a day, seven days a week, they can never lose money,” Pupo said.
Full story: http://tiny.cc/9vhm001
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.