Months before construction started on Bakers Centre, the
220,000-square-foot shopping center was nearly fully leased up.
Now completed, the $60 million project in Hunting Park West
is proving there is demand for retail in a neighborhood once dominated by
manufacturing companies that have since shuttered or moved out. Just about
11,000 square feet of the development remains to be leased and Metro
Development Co. of Ardmore, Pa., is setting its sights on moving forward with
the second phase of the project.
“It’s coming together,” said Michael Grasso, chief executive
of Metro Development.
When Grasso first looked at the site where Bakers Centre is
now located, he and his sales team drove around and trolled the neighborhood to
get a handle on it. Grasso was stunned.
“Where do these people shop?,” he wondered. “We had to go to
City Line Avenue to get a cup of coffee.”
A 7-Eleven was go-to place to shop for groceries.
A 2010 study done for the Philadelphia Industrial
Development Corp. identified retail as a use that would potentially thrive in
that part of Philadelphia.
In light of the food desert and other lack of other retail
outlets in Hunting Park, Grasso felt bullish Bakers Centre could attract
tenants and decided to move forward with the development. The land had been
used by Tasty Baking for its headquarters and a production facility.
Bakers Centre is on 30 acres along Hunting Park Avenue, Fox
Street and Roberts Avenue. A 71,000-square-foot ShopRite anchors the center.
Ross Dress for Less, Family Dollar, Subway, Planet Fitness, Dunkin Donuts are
among its others tenants. U.S. Realty Associates Inc. is handling the leasing.
While Metro’s focus has been on Bakers Centre, it will begin
to set its sights on redeveloping the former Tasty Baking factory. The
460,000-square-foot building will be converted into primarily office space.
Three tenants — two non profits and a school — have been lined up and total
about 100,000 square feet. Work will is expected to begin in 90 days.
Source: Philadelphia
Business Journal
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