Retail Is a Mixed Bag in Philly

PHILADELPHIA-The retail climate in Philadelphia is tough just like anywhere else, and people doing business in the sector are trying to find ways to adapt to store closings and a stagnant financing climate. Speakers yesterday at Incisive Media’s RealShare Philadelphia detailed how they are weathering the storm.

Chipotle Mexican Grill, for one, is still big on expanding into the Metro area to between 40 and 50 locations from the eight it currently has. But with projects not getting off the ground and some shopping venues in distress, it’s getting tougher to find favorable locations, said Lisa Drake, the company’s real estate manager who oversees Pennsylvania, Delaware and New Jersey for the Denver-based chain.

“We’ve been challenged to maintain our development pipeline,” she said. “We are closely scrutinizing deals, and we are being very cautious. We’re making better decisions at the end of the day.”