Marcus & Millichap: Philadelphia Retail Improving

PHILADELPHIA, PA—Steady improvement in the jobs picture is leading to increases in retail spending and a corresponding expansion trend among retailers in the geography, according to Marcus & Millichap’s second quarter Retail Research Market Overview.

“High-end grocers Whole Foods and Wegmans are expanding in the wealthier suburbs,” the report says. “Meanwhile, several other smaller retailers including discount stores and quick-serve restaurants are also growing their footprints. In the wake of Bottom Dollar’s exit from the market earlier this year, Aldi purchased all 46 locations in the Philadelphia area and has plans to open 20 of them as Aldi stores.”