Trader Joe’s, a cult-favorite grocery store, is reportedly opening a new location in the City of Brotherly Love.
NBC10’s news-gathering partner, the Philadelphia Business Journal, said the national chain has signed a lease to open a new shopping center in Pennsport, South Philadelphia.
The store would be built on a 4-acre development site along Columbus Boulevard between Dickinson and Tasker streets along the Delaware River waterfront.
The Pennsport location would become Trader Joe’s third store in Philadelphia. The company already operates locations at 1324 Arch Street near the Pennsylvania Convention Center and at 2121 Market Street in the city’s central business district.
Philadelphia Business Journal said, according to property records, Ocean Block Capital recently acquired the property for $7.5 million.
The New York-based firm acquired the site from Philadelphia developer Bart Blatstein, who had planned a retail project there for years. Blatstein previously envisioned a Super Wawa on the property, but that plan was ultimately abandoned.
Trader Joe’s was Founded in 1967 in Pasadena, California, by Joe Coulombe. Today, there are over 650 stores operating across the United States.