PHILADELPHIA-Malvern, PA-based Acme Markets has bought 3.5 acres on the 86-acre tract of the former Defense Supply Center Philadelphia that is under development by Philadelphia Industrial Development Corp. Acme will break ground there next month for a 50,000-sf combination food and drug store.
The price Acme paid for the property is undisclosed, and estimated construction costs are unavailable. The superstore will be at 20th Street and Oregon Avenue, the most prominent corner of the property.
The US Army closed DSCP, better known as Quartermaster Depot, in 1999, and it was purchased for development by PIDC. It contains 1.7 million sf of commercial space and 45 acres of readily developable, cleared land. PIDC has sold all of the buildings and cleared the 45 acres for retail development.
With Acme as anchor, scheduled to open in late summer 2003, the redevelopment project gets a kick-start. “Neighborhood redevelopment is a major priority for the (Mayor) Street administration,” says Peter S. Longstreth, PDIC president, in a statement. “This project is a wonderful example of converting an excess military asset to a market-responsive neighborhood resource.”
Acme was founded in Philadelphia in 1891. It operates 11 supermarkets here, but closed its only remaining South Philly unit six years ago. “We're excited to return to an area we once served,” says president Carl Jablonski in a statement. “It's a great opportunity for us, given the existing underserved residential community as well as the continued plans for residential and commercial development nearby.”
Jablonski says Acme is expanding throughout Philadelphia, converting older stores here to newer, larger formats and planning additional stores.
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