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40,000-SF Fresh Grocer to Anchor Progress Plaza

PHILADELPHIA-With the locally based grocer's agreement, Kravco and Progress

By Marita Thomas | Updated on March 11, 2003

PHILADELPHIA-Locally based Fresh Grocer signs an agreement with King ofPrussia, PA-based Kravco Co. to anchor Progress Plaza Shopping Center inNorth Philadelphia. This kicks off the planned joint redevelopment of thecenter by Kravco and Progress Investment Associates, Inc., which owns the35-year-old center.

According to the agreement, PIA will begin lease negotiations with FreshGrocer, and Kravco will proceed with plans to build the 40,000-sf anchorsupermarket. PIA treasurer Alvin Tucker expects to reach a lease agreementwith Fresh Grocer this spring and Kravco expects to break ground this year.

Progress Plaza currently consists of 66,000 sf of retail and office space onfour acres at Broad and Oxford Streets. Plans call for an expansion ofretail space on the current lot to 70,000 sf and an additional 19,000 sf of officespace in addition to the new Fresh Grocer supermarket.

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