Description de l'actif
Jones Lang LaSalle (“JLL”) is pleased to exclusively offer a 21,102 square foot retail condo with corner frontage at 16th and Arch Street in Center City Philadelphia at the floor of the Phoenix Philadelphia, a 267-unit luxury condo tower.
At 65% occupancy, the Offering provides investors a value-add opportunity to re-merchandise the Property with contemporary retail uses servicing the significant daytime population of workers / commuters, residents and tourists that work, live or visit the area. 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 Property is situated at the confluence of Philadelphia’s myriad of cultural venues, entertainment, one-of-a-kind shopping and fine dining with excellent frontage along the Benjamin Franklin Parkway and directly adjacent to Comcast’s two headquarter towers on the 1700 and 1800 blocks of Arch Street.
1600 Arch is a generational investment opportunity acquire scarcely available, irreplaceable real estate within the Center City West submarket with significant upside via a multi-faceted leasing strategy to re-imagine the merchandising mix at one of the most highly trafficked corners in Center City Philadelphia.
Caractéristiques de l'actif
Points clés d'investissement
- Value-Add Opportunity via Multi-Faceted Leasing Strategy to Re-Merchandise Property to Service High Volume of Pedestrian, Commuter and Tourist Foot Traffic
- Irreplaceable Location at Highly Trafficked Corner in Center City West Neighborhood at the Base of 287-Unit Luxury Condo Tower, One Block from Comcast Towers (Corporate Headquarters)
- Positioned within Path of Momentum with Excellent Visibility Along Benjamin Franklin Parkway (+22,100 VPD) as Center City Pedestrian, Commuter and Tourism Traffic Continue to Trend Toward 2019 Levels