The Chestnut Street location puts the restaurant, which is owned by Benihana Inc., in the heart of the Independence Hall and Olde City neighborhoods of Center City. David Wirth of Staubach Retail Services' local office and Greg Roth of Staubach's Boca Raton, FL office, represented the restaurateur in the lease negotiation. Terms of the lease were not disclosed, but a broker familiar with retail space in that area tells GlobeSt.com the rate is probably in the area of $40 per sf.

Three Pep Boys' store terminations are in Pennsylvania: Selinsgrove, Upper Darby and Williamsport. California takes the biggest hit from Manny, Moe and Jack with a loss of 11 stores; Texas will lose five; Florida, four; New York, two, and one each in Arizona, Georgia, Illinois, Massachusetts, New Jersey, North Carolina, Ohio and Virginia will close. Following what is described as a restructuring, the automotive aftermarket chain will operate 596 stores in 36 states and Puerto Rico.

Meanwhile, Bon-Ton Stores is the latest suitor of Elder-Beerman. It proposes paying $7 a share in cash for common stock. This represents about $79 million and is $1-per-share above other recent offers.