7601 State Road, Philadelphia, PA
PHILADELPHIA, PA—JAKO Enterprises, which operates retail stores under the KicksUSA and Ubiq name in Philadelphia, New York City, New Jersey, Maryland and Washington, DC, has leased 201,456 square feet of warehouse space at 7601 State Road, Philadelphia, PA.
JAKO is relocating from 12000 Roosevelt Boulevard in northeast Philadelphia, which is better known as the former Nabisco Baking site, according to Richard Gorodesky of Colliers International, who represented in the transaction.
The move will pave the way for the continued retail redevelopment of the 27 acre site at 12000 Roosevelt Boulevard, which was sold by Colliers in July 2016, and simultaneously partially leased to JAKO at the same time. Already situated on the corner of this site is a Super Wawa, and the JAKO lease paves the way for the newest future occupant, Topgolf, which will absorb about 15 acres for an indoor/outdoor entertainment center after JAKO's departure and subsequent demolition of the remaining balance of the former Nabisco building later this year.
The aggregate rental value of the lease exceeds $2.125 million.
Since opening its first location at the Rising Sun Plaza in Philadelphia, the company has expanded along the East Coast to more than 60 locations.
This move also comes amid change internally – the acquisition of KicksUSA and Ubiq in late 2019 – by the largest European shoe retailer, Germany-based Deichmann Group (better known for its brands Rack Room Shoes and Off-Broadway Shoes) and will spark the transition of JAKO's brands into Deichmann's “Snipes” brand, which appeals to a similar target group and has a base of 230 stores throughout Europe.
Property owners Drummond Decatur and State Properties were represented by Robert Olender of Roddy Inc.
Updated, 4/29/2019, 3:45 p.m.: This story has been updated with additional information provided by Colliers International.
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Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
