PHILADELPHIA RISING

PHILADELPHIA RISING

According to investment firm CBRE, prime retail rents in Center City are pushing $225 a square foot for corner space. According to Campusphilly.com, of the 300,000 college students who study in the metropolitan area, 64 percent are now staying after graduation to live and work (companies with office...

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Bibliographic Details
Published in:WWD Vol. 211; no. 38; pp. 40 - 41
Main Author: Webber, Kathleen Nicholson
Format: Trade Publication Article
Language:English
Published: Los Angeles Penske Business Corporation 28-09-2016
Subjects:
Chief executive officers
Cities
Commercial real estate
Convention centers
Design
Developers
Fashion designers
Feasibility studies
Investors
Millennials
Neighborhoods
Office space
REITs
Retail stores
Site planning
Towns
New York
Washington DC
United States > US
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Summary:According to investment firm CBRE, prime retail rents in Center City are pushing $225 a square foot for corner space. According to Campusphilly.com, of the 300,000 college students who study in the metropolitan area, 64 percent are now staying after graduation to live and work (companies with offices in the suburbs are looking to open satellite offices in the city to attract the best talent). According to a report by CBRE, in the past 15 years there has been a 288 percent increase in households making more than $500,000. OUTSIDE OF THE CITY A short drive from the King of Prussia mall is the new King of Prussia Town Center by JBG Real Estate, the largest commercial real estate firm in Washington, D.C. The outdoor, upscale-lifestyle shopping and dining center, in the middle of the Main Line, features 260,000 square feet of shopping, dining and entertainment.
ISSN:0149-5380