Panda Express Restaurant Group Continues Expansion in Philadelphia Metro Area
Posted September 4, 2019
Richard L. Soloff of Soloff Realty & Development, Inc. represented Panda Express Restaurant Group in facilitating the purchase of a .93-acre parcel located at 1150 White Horse Road in Voorhees, NJ for $1,275,000. Plans for a newly constructed eatery with drive-thru service and outdoor seating are in the works with a targeted launch projected for Spring, 2020. In addition to popular Asian entrees, the restaurant offers appetizers and a tea bar.
The privately-owned chain has built quite a footprint in Southern New Jersey. Locations opened in Vineland and Cherry Hill in 2019; Voorhees and Washington Township are next in line.
Panda Express looks for strong retail locations that have heavy daytime demographics as well as a regional retail draw. Free standing locations usually range from 1,800 SF to 2,600 SF.
Soloff has represented Panda Express since 2013, when they first entered the Philadelphia market. He facilitated the leases/purchases of all nine Panda Express locations currently in the Philly metro area.
Established in 1983, Panda Express has remained privately owned and operated (except for a few select locations). Panda Express has more than doubled in size, opening approximately 150 stores each year, now operating over 2,100 restaurants nationwide.
Site Requirements:
- Free standing or end-cap with drive-thru
- Purchases strongly preferred
- 1,800 to 2,600 SF
- Regional markets with power centers desired
