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NPD report: U.S. restaurant count down by 9,450 from last year
Chicago -- A Tuesday report by NPD Group said that U.S. restaurant unit counts declined by 2%, which translates to a loss of 9,450 restaurants since last year.
According to the report, most of the total unit declines were independent restaurants. Chain restaurant unit counts remained relatively stable, according to NPD research.
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PREIT announces new retail leases
Philadelphia -- Pennsylvania Real Estate Investment Trust announced that almost half-a-million sq. ft. of leasable space was signed or opened across its mall portfolio since the end of April.
According to PREIT, leases have been executed with J.C. Penney, Nordstrom Rack, Bravo Cucina Italiana and Forever 21 at Willow Grove (Pa.) Park, in the reconfigured space formerly occupied by Strawbridge’s.