Tuesday, January 26, 2016

Strong Demand for Philadelphia Multifamily

by Steve Lubetkin, Globest.com
Retail and multifamily properties are highly active and continue to see strong demand.

“We continue to see great market activity and high investor demand from the institutional and private buyer community for well-located multifamily in the city. Cap rates on class A multifamily and class B value add multifamily continue to remain low and per unit pricing is at record levels.  Also, retail continues to be highly sought after as both urban units and suburban centers trade at record pricing.”

With rents on the rise in trophy-class and class-A properties along with dropping vacancies, Philadelphia seems to be a landlord’s market. In addition to out-of-town investors making their mark in the city, panelists will discuss factors that continue to drive the mixed use sectors and what particular areas are teeming with activity. Among the trends expected to be discussed are coworking, incubator spaces, and crowd-funding—and how they play into the most bustling areas.

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