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Daffy's Purchased By Company That's Phamiliar With Philly

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Yes, we went there with the "ph." We're starting things out with some phun for your Monday morning (it's going to be a long day). Here's the big news: New York-based JEMB Realty has purchased Daffy's "leasehold interests, some real estate, and some intellectual property" for $43 million. That means JEMB now owns the leasehold for the Daffy's at 17th and Chestnut, which has been slated for a September closing. While JEMB will be subleasing 16 other Daffy's properties, it'll be buying the building at 17th and Chestnut. That's not a huge surprise: JEMB has familiarity with our area—it owns Resorts Hotel and Casino in AC and a golf resort in the Poconos.

So what will JEMB do with our beloved Center City Daffy's? It's hard to say from the company's current real estate portfolio, which ranges from high-rise office buildings and sprawling shopping malls to hotels and retail centers. Any guesses?
· JEMB Realty, NOT Aurora, is Daffy for Daffy’s Real Estate (to the tune of $43 Million) [Commercial Observer]
· More details on the Daffy's departure [Crain's]
· Daffy's Philadelphia Outpost Closes Its Doors Sept. 30th [CPHI]