If Delhaize hopes to sell all of the stores as a chain, possible buyers could include Aldi; Ahold USA, which runs Giant and Stop & Shop markets; Supervalu, the former Acme operator, which runs the bargain-priced Save-A-Lot chain; and Wakefern Corp., which operates Shop-Rite and Fresh Grocer stores along with cut-rate PriceRites, according to the report.
Most of the stores are leased. Food Trade News says the busiest Bottom Dollar in the Philadelphia area is at 6101 N. Broad St. in the city, with average weekly sales of nearly $300,000, almost double the chain's average.
A group of North Jersey investors, calling themselves PF Hillside Manor L.P., have agreed to pay $10.15 million for the 216-apartment Hillside Manor Apartments complex at 1120 Ward St. in Chester.
That's triple the $3.4 million that partners Philip Balderston, Tristan Silk, and Justin Pesin paid for the complex in March 2012, when it was more than 60 percent vacant.
The group says it spent "multimillions" renovating Hillside and marketing it to new tenants.
Still, the sale price more than covered the purchase, upgrades, and marketing, so it was time to "monetize the asset" and collect "superior returns," Balderston said in a statement.
Balderston's group owns 2,000 apartments in Philadelphia, Delaware, and Bucks Counties and South Jersey and is looking to spend up to $20 million this year buying more, he says.
Recent acquisitions include apartments at 401 E. Gibbsboro Rd., Lindenwold, and 7200 Marion Ave., Levittown.
Global Spectrum, the arena-management arm of Comcast-Spectacor, which owns the Wells Fargo Center, where the Flyers and Sixers play, plans to open two new halls in early September: the 10,000-seat PPL Center in Allentown, whose schedule starts with a concert by the Eagles on Sept. 12; and the Alaska Airlines Arena in Anchorage, where the Alabama Shakes will do the maiden show Sept. 13.
PPL Center, name-sponsored by the local power company, will host the American Hockey League's Lehigh Valley (formerly Philadelphia, formerly Adirondack) Phantoms, concerts, and other shows.