Several Shops at Penn storefronts in University City currently have vacant units — a trend that University officials say mirrors citywide retail conditions.
Among Penn’s vast retail portfolio, five spaces have no active tenants: 3603 Walnut St., 3636 Sansom St., 3724 Spruce St., 130 S. 34th St., and 3432 Sansom St. Four of the leases — ranging from a 1,172-square-foot cafe space on Spruce Street to a 3,500-square-foot storefront on Walnut Street — are currently advertised by the real estate company MSC, while 3432 Sansom St. is not.
The Daily Pennsylvanian could not verify the timeline of the building vacancies or identify past tenants.
In a statement to the DP, Penn’s Executive Director of Real Estate Ed Datz wrote that Penn’s retail occupancy rate is “approximately 90%,” a figure he described as consistent with or “slightly better” than broader Philadelphia trends after the COVID-19 pandemic. Datz pointed to both increased online shopping and hybrid work patterns as factors slowing retail recovery.
According to the Center City District’s November 2024 retail report, Center City currently maintains an 83% retail occupancy rate, closely reflecting Datz’s assessment of the broader commercial landscape.
Datz clarified that while individual storefronts may be empty, “there are no vacant Penn-owned buildings at this time,” noting that some properties include unoccupied interior spaces even as the buildings themselves remain in use.
In a statement to the DP, Facilities and Real Estate Services Director of Communications Jennifer Rizzi wrote that some buildings that may appear vacant from the street — such as those located at 110-130 S. 36th St., which were previously occupied by Urban Outfitters and Loft — are actually leased. According to Rizzi, one of these sites — now under construction for an upcoming rock climbing gym — is expected to open in late spring.
Rizzi added that even if new leases are in progress for the five vacancies, Penn cannot disclose potential tenants until agreements “are signed.”
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“Penn remains a highly desirable location for retailers,” Datz wrote, adding that the University expects to make additional announcements “as the leases are signed.”
Requests for comment were left with several of Philadelphia’s government agencies that manage vacant properties, including the Department of Licenses and Inspections.
Datz wrote that Penn is continuing to work with its retail broker teams to “fill [its] vacancies with new goods and services for the community to enjoy in the near future.”
