Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area

Property Description

A 6,876 retail condo with corner frontage at the floor level of the newly constructed Hyatt Centric in Philadelphia’s prestigious Rittenhouse neighborhood. The Property provides investors a value-add opportunity with a retail condo ideally positioned at the corner of 17th and Chancellor Streets to significantly enhance value via a multi-faceted leasing strategy directly adjacent to Rittenhouse Row, one of the top urban retail destinations in the country, joining retailers that include Tiffany’s, Apple, Warby Parker, La Colombe and many more. 


Located in the heart of Center City Philadelphia, the Property benefits significantly from the rapid momentum the Center City District has generated over the last 10 years. The 3rd most populous downtown in the United States, Center City Philadelphia’s population has grown over 18% over the last 10 years, with over 37.5% of residents between ages 25 and 34. The Property is new construction with floor to ceiling glass frontage, 25 foot ceilings and corner frontage along the 1700 block adjacent to Walnut Street, which hosts over 18,400 pedestrians per day on weekdays and 19,800 pedestrians per day on weekends.


The Property is a generational investment opportunity to acquire retail space within the five-block section of Walnut Street between Broad Street and Rittenhouse Square in one of the most desirable neighborhoods in Philadelphia. The Rittenhouse Row corridor has an excellent history of low vacancy and excellent rent growth, evidenced by its ability to attract high-end retailers such as Apple, Tiffany & Co. and many more. 

Investment Highlights

  • Value Add Opportunity to Lease Up Retail Condo at Base of Newly Constructed Hyatt Centric Hotel in Center City Philadelphia
  • Significant Corner Frontage at Corner of 17th and Chancellor in Rittenhouse, Considered one of the Most Renowned Neighborhoods in Center City Philadelphia
  • Located Adjacent to Rittenhouse Row, A Regional Shopping Destination with Significant Foot Traffic and a Prestigious Lineup of Retailers and Restaurants
  • Excellent Demographics in Center City Philadelphia with Over 62.5 Million SF of Office Space, 193,000+ Residents and Over 14,700 Hotel Rooms in Center City
  • New Construction with Flexible Layout and Opportunity to Lease One Suite or Demise as Two Separate Suites


Jim Galbally

Senior Managing Director

T +1 215 988 5551

james.galbally@am.jll.com


Chris Munley

Senior Managing Director

T +1 484 532 4207

M +1 609 610 1096

c.munley@am.jll.com


Paige Jaffe

Managing Director

T +1 215 988 5513

paige.jaffe@am.jll.com


Colin Behr

Senior Director

T +1 215 399 1819

M +1 215 896 4253

colin.behr@am.jll.com

Last Updated Date: 24 Feb 2021
James Galbally
James Galbally
Senior Managing Director, Capital Markets
License details
PA - RS295928
Christopher Munley
Senior Managing Director, Capital Markets

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+46812111187
Last Updated Date: 24 Feb 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.