A week ago, we wondered what new business would be taking over 1940 Pine St., a long-vacant commercial space. At the time, we speculated that a sandwich shop/cafe would likely be the new tenant, and even threw out a guess about who that tenant might be.
Turns out, we were way off base. Sources have told us that Palm Tree Market is taking over the space, which will represent a third location for this rapidly growing local chain. You may recall back in August, when we gave you the scoop on their second location, at 2nd and Christian Sts.
In Pennsport, we were a little surprised that Palm Tree Market would open a new location directly across the street from a convenience store, which would ostensibly represent significant competition. Turns out, this doesn’t appear to be the case (at least for Palm Tree Market. No idea how the convenience store is doing). Similar to the Pennsport arrangement, this new market is opening very close to another business that does many of the same things.
Sure, Palm Tree Market and Food & Friends have their differences. Food & Friends has that killer beer selection. And Palm Tree Market has some tasty sandwiches and prepared foods that people go crazy about. But at the end of the day, they’re both gourmet markets. And both make a decent portion of their profits on high end retail products with a healthy markup.
Can both markets thrive, given their close proximity?
Or will it be a war of gourmet markets, to the death?
Only time will tell…