Acme Markets has signed a lease on 34,500 square feet at 4001 Walnut St. in the University City neighborhood of Philadelphia and plans to open a grocery store in the space.
The lease was signed with the University of Pennsylvania. In addition to a sushi and noodle bar as well as a guacamole station, the new store will have a Starbucks and sell beer and wine. Acme plans to spend millions of dollars to renovate the space.
The new Acme will backfill space that is expected to eventually be vacated by Fresh Grocer though Penn and the grocery store are in litigation over the lease.
Penn has said that Fresh Grocer did not renew its lease in a timely fashion in accordance with the terms of the lease. As a result, Penn said it notified Fresh Grocer its lease would expire on March 31, 2017, and that it must vacate the store by that date. However, Fresh Grocer, which has operated from the site for the last 15 years, has remains in operation at the site.
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