The Arch Apartments_Property for Sale
The Arch Apartments_Property for Sale
1701 Arch St, Philadelphia, PA, 19103-2670, US

The Arch Apartments

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present qualified investors the opportunity to acquire The Arch (the “Property”) a 111-unit, core-plus high-rise featuring 11,231 SF of ground-floor commercial space. The asset is situated on the corner of 17th and Arch Streets, adjacent to Comcast's global headquarters and technology center in the coveted Logan Square neighborhood of Center City Philadelphia.



Number of units
111 units
Year built
Building area Net
7,863 m²


Investment Highlights


  • The Arch was redeveloped in 2012 and provides an investor the opportunity to acquire a well-located, stabilized high-rise that is being offered more than 50% below replacement cost in Center City. New ownership can implement a core modernization program in all 111 units that will garner monthly rent premiums of more than $300. Unit upgrades include quartz countertops, movable kitchen islands, under-cabinet lighting, and upgraded bathroom finishes. Furthermore, an investor can enhance the existing amenity package by offering a modernized fitness center, pet washing stations, cold storage, package lockers, and design an outdoor amenity deck on the unutilized annex roof to reposition the asset amongst its competitive set. In addition to a unit and common area enhancement plan, an investor can focus on marking the in-place rents to market upon turnover and renewal as the in-place one- and two-bedroom rents trail the market by upwards of $500.


  • The Arch has boasted impressive rental performance over the past several months due to the asset’s below market rents and proximity to Center City's largest employers. Over the trailing 12 months, rents on new leases have increased 12.8%, including 8.8% performance over the last 5 signed leases. Additionally, net effective rents on the last 10 new leases are averaging $3.33 PSF, which is 6.5% above the blended average in-place rent of $3.13 PSF. The renter demographic at The Arch consists largely of educated, high-earning professionals that are insensitive to price increases, further supporting the rental upside opportunity.


  • Logan Square’s luxury apartment market is supported by Center City’s healthy labor pool and outstanding demographics. Comcast, whose global headquarters and technology center towers neighbor The Arch, employs 9,000 people across the two buildings and other notable companies are following suit. Chubb, the world's largest publicly traded property and casualty insurance company, recently announced that it will occupy a state-of-the-art, 18-floor, 438,000 rentable SF building to be constructed three blocks away from the Property at 2000 Arch. Following its completion, the project is expected to create at least 1,250 new positions in Philadelphia, making it the company's largest office in North America.


  • The Arch is conveniently located in Logan Square, a neighborhood that combines top city attractions, corporate and municipal office buildings and luxury high-rises along pedestrian-friendly, tree-lined streets. Bordered by Broad Street to the east, the Schuylkill River on the west, Market Street on the south and Spring Garden Street on the north, the neighborhood benefits from its centralized location, which is aided by its main artery – the Benjamin Franklin Parkway. A surplus of museums and other iconic Philadelphia landmarks border the parkway and add ample outdoor green spaces for relaxation and fun. The parkway also provides direct access to Center City Philadelphia in minutes.
The Arch Apartments 4_Property for Sale
The Arch Apartments 4_Property for Sale

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Last updated
21 Aug 2023