Investor interest in the Philadelphia Central Business District is at historically high levels, as buyers broaden their search for new investment opportunities.
New capital inflows are likely to continue this year.
“In my twelve years selling investment real estate in Greater Philadelphia I’ve never seen this much interest in the Philadelphia CBD. We’ve seen more buyers that typically focused only on gateway markets expanding their investment criteria to include Philadelphia, which I believe is the most in-demand non-gateway market in the country.”
Investors outside the New York-Washington corridor are also starting to examine opportunities in the Delaware Valley.
“This interest started with groups based in New York and Washington, DC, but has expanded to groups located other regions throughout the country,” he says. “We’ve also seen international investors close on transactions in the city this year and pursue high-quality offerings in both the city and select suburban markets. New capital chasing deals in the Philadelphia CBD and select suburban submarkets is a trend that I believe will continue throughout 2016.”
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