Vacant Commercial Space of the Week: 1518 Walnut St.

A space that we fondly remember as Circa and/or the Sharper Image is currently available for lease, and is being listed by the Michael Salove Company. Located at 1518 Walnut St. in the Rothenberg Building (or Merlin Tower), this space is very desirable for any high end retailer or restauranteur looking for a space in the heart of Philadelphia’s ritziest retail street.

While the new Ulta is opening a block away in a newly renovated, ultra-modern storefront, this space offers a very classic look, with exterior architectural details that befit a building constructed in the 1920’s. The building was once the home of Industrial Valley Bank, and we imagine the golden eagle above the arched entryway was a sign of prosperity. Many of us remember Circa’s decade-long run in the space, which reportedly ended with the threat of a 400% rent increase in 2005. Assuming that Sharper Image was paying that higher rent figure, we’re not so surprised that they didn’t last.

The listing describes 4300 sqft of first floor space, 500 sqft of mezzanine space, and 1800 sqft of basement space. What do we want to see here? Striped Bass redux, perhaps? Or maybe a Baja Fresh to compete with Susana Foo Chipotle? <Sigh>

Whoever ends up leasing the space, we hope they meet a better fate than those who came before.