Camden Courier-Post – January 16, 1928
‘Five-and-Ten’ to Occupy Proposed Building at Twenty-Sixth St.
F. W. Woolworth is invading East Camden with his “five and ten”.
A 20 year lease was signed today, under the terms of which the merchant magnate will pay more than $150,000 rental for a store to be erected at the northwest corner of Twenty-Sixth and Federal Streets. The property, now occupied by an American Store and two other buildings, is owned by Leon E. Todd, East Camden real estate man, who negotiated the lease with representatives of the Woolworth concern, George C.B. Stout and Harold S. Armitage, of Philadelphia.
Razing of the present structures will begin April 1, the present lease expiration March 31. Lackey & Hettel, architects, have been engaged to design the new “five-and-ten” building, a two-story structure of brick, steel and stone to cost $50,000.
According to representatives of the Woolworth Company, the rental to be paid for the site is the highest ever contracted in any city for a site outside the central business area.
“This transaction is concrete evidence of the value of East Camden realty,” Todd said today. “When a big national concern is willing to pay a record-breaking price for an East Camden lease it is proof of the remarkable standing of this section of the city.”
The new Woolworth store is expected to be in operation late this year.