Investment Overview

A Generational Location in a Sports Loving City – After more than 28 years, the southeast corner of 17th and Chestnut Street is available for sale following the recent departure of Rite Aid. The new tenant is the expanding retail brand Rally House. The 16,147 square-foot space has 72 feet of frontage along Chestnut Street and high interior ceilings as it was once Provident Bank Trust’s headquarters. Rite Aid occupied this building for more than two decades, and upon their departure, ownership received several proposals from national credit tenants to backfill this premier location. Ownership selected Rally House due to the company’s exceptional growth trajectory, operational track record, and the lack competition for high-end licensed sports apparel in Center City Philadelphia. Rally House currently operates two other Philadelphia locations near the campuses of Temple and Drexel, with approximately 20 additional locations in suburban shopping centers and malls throughout the greater Philadelphia area. The success of these locations over the last decade was a driver for this new “flagship” location Philadelphia: An Ideal Market for Rally House Business –Philadelphia is widely known as one of the most passionate sports cities in the Country. This Rally House location will benefit from limited competition and a vast number of nearby college teams, local professional teams, and major sporting events. The store is in walking distance to several major universities with a combined enrollment over 91,000 students - University of Pennsylvania, Drexel University, Temple University, and Thomas Jefferson University. Professional sports teams include the Philadelphia Eagles, Philadelphia Phillies, Philadelphia 76ers, Philadelphia Flyers, and Philadelphia Union, all of which drive year-round demand for licensed merchandise. This very demand has made Philadelphia one of Rally House’s Top 3 markets for sales revenue in the entire country. Sports Centric Culture Expanded! - This year, Philadelphia will host several major sporting events including games from the 2026 NCAA Men's Basketball Tournament, matches during the 2026 FIFA World Cup, and the 2026 MLB All Start Game. Center City is often the location of numerous championship parades for the various sports teams. This site is well-located to service the thousands that attend those Super Bowl and World Series parades. It is also notable that both SEPTA subway stations and Regional Rail stations from the surrounding suburbs are within three blocks of the Property, allowing for convenient for pre-and post-game visits to the store. Prime Chestnut Street Location – Located along Chestnut Street in the heart of Center City, the property benefits from one of Philadelphia’s most active retail corridors which is highly synergic to Rally House. The location sits within a dense concentration of national retailers, restaurants, office buildings, residential towers, and hotels. The intersection of 17th and Chestnut Street is widely recognized as one of the highest pedestrian-traffic intersections in Center City. Studies conducted in recent years indicate that this corridor experiences average daily pedestrian counts approaching 30,000, providing exceptional exposure for retailers. The surrounding area features strong foot traffic from nearby destinations including Rittenhouse Square, Philadelphia City Hall, the Center City office district, and the Theater District. The location is further supported by outstanding transit connectivity through SEPTA, with multiple subway lines, regional rail stations, and bus routes located within a few blocks.