The retail real estate market in Center City is booming, especially along the Walnut Street and Chestnut Street corridors. Strong population growth in Center City and surrounding areas — fueled by both the baby boomers and young professionals — enables Center City to attract retail tenants that once only headed for suburban malls. Rumor has it Bloomingdale’s may even open near Market East, giving me both a very happy wife and a much lighter wallet!
- Is Philly turning into New York? The multifamily market in Center City reaches such robust levels that developers are creating the once unthinkable here: micro apartments of a meager 352 square feet for almost $1,400 per month!
- Meanwhile in the suburbs, the Montgomery County Redeveloping Authority seeks developers for three high-profile properties in Conshohocken. At what price will these properties ultimately trade and will they create a material impact on this suburban office hub?