Retail coming to Philadelphia (Bath: felony, misdemeanor, penalty)

[cpomp]

Long awaited Bankroll entertainment venue/restaurant/bar opens on Chestnut Street tomorrow.

First look: $25M Bankroll sports and entertainment venue readies for debut in Center City
https://www.bizjournals.com/philadel...Pos=0#cxrecs_s

[JamesJay64]

The Target at 12th and Chestnut is closing due to "years of declining performance".

Target mentioned that they are also closing two small-format stores in DC and one in Minneapolis, and that the Rittenhouse/Broad & Washington stores perform much better.

While I didn't love this Target (the small format leaves much to be desired), it always seemed to be quite busy so I'm a bit surprised. I'm sure the years of construction across the street contributed. This is not a closure this area needs right now, but I could also see it eventually rebounding when the Jefferson building is finally done, and some of the nearby residential units are completed/go online. These retail trends don't seem to be unique to Philly but it's sad to see a busy store close and strange since CC's residential population has been growing - last I heard.

[Redddog]

So nuts to me. We go there all the time and it's ALWAYS busy.

That spot wont sit for long, I'd bet. The hospital is gonna supply whatever fills in there with a ton of foot traffic.

Just weird.

[cpomp]

That is a shame. I feel like other factors may be at play besides "declining performance". But hopefully a solid tenant moves in quickly. There are lot of new residential units under construction in the area.

[mphilly]

Yeah it makes no sense, there are always people in there. As cpomp said, it has to be other factors. There’s just no way there wasn’t enough business there to stay open.

[Tweb66]

I wonder how much theft there was. I used to go to the city Target in Roxborough but they just have so much stuff locked away, I don't feel like waiting for an employee to get really basic things. I now go to Plymouth Meeting.

[JamesJay64]

At least they are opening a new Target at 37th and Chestnut: https://www.thedp.com/article/2022/1...chestnut-store

[cpomp]

I'm back!

More info about Target closure, which was apparently to the surprise of Brickstone (landlord).

Target closure will leave 'prime retail' hole in Center City's Market East
https://www.bizjournals.com/philadel...Pos=1#cxrecs_s

Target Corp. closing its store at 12th and Chestnut streets in Center City was a surprise to its landlord, Brickstone Cos. President John Connors Sr. said.

Connors said figuring out what Brickstone will do next to fill the space is still preliminary.

The nearby construction has lasted several years and Connors said he believes that likely affected Target’s sales.

[thedirtypirate]

It's a pain to walk around those few blocks currently with all the construction, but the Collins (I think that's what the building is called) is a nice building and should get something else shortly.

[Redddog]

Looks like philly isn't going to retail....

KOP Extension has been cancelled. lol.