Philadelphia – Sixth Avenue
Electronics, the New Jersey-based A/V specialty chain, has acquired two former
Office Depot stores within the Philadelphia market.
The real estate, located in nearby
Deptford, N.J., and Langhorne, Pa., will bring its Philadelphia-area store
count to four, and its total store count to 19, which includes locations in New
Jersey and Long Island, N.Y.
According to a report in the Philadelphia Business Journal,
the privately held dealer paid $7 million for the two properties, which are both located within
shopping malls.
Sixth Avenue opened its first
Philadelphia-area store one year ago in Montgomeryville, Pa., near fellow Progressive
Retailers Organization (PRO Group) member World Wide Stereo, and opened a
second Greater Philly store late last year within a former Circuit City site in
Concord Pike, Del.
Philadelphia had been devoid of a
specialty chain presence since the demise of Tweeter Home Entertainment,
although the market is beginning to heat up with the Sixth Avenue stores, the
entrance of hhgregg into Eastern Pennsylvania and Atlantic City, and plans by P.C.
Richard & Son to open two locations there this year.
