The Sterling

Jones Lang LaSalle Americas, Inc. (“JLL”) exclusively presents The Sterling (the “Property”), an Institutional 534-unit high-rise featuring 113,118 SF of retail and office space, strategically positioned in Philadelphia’s prestigious Logan Square neighborhood.

Redeveloped in 2015, The Sterling presents investors with the opportunity to acquire an irreplaceably located high-rise offered below replacement cost.

The property features 463 legacy units and 71 premium units. All units are notable for their spacious layouts and walk-in closets, making them roughly 25% larger than those of direct competitors. The legacy units are well-appointed with espresso thermofoil cabinetry, stainless steel appliances, granite countertops, and hardwood floors.

A significant value-add opportunity exists through a strategic, two-phase approach. First, an investor can capture a substantial mark-to-market in the 71 premium units by increasing the asking rents, which currently trail market averages by more than 10%.Following this, an investor can implement a restore-to-core renovation program in the remaining 463 legacy units that will achieve a $405 rental increase - a figure already proven by the property’s 71 existing premium units.

Furthermore, The Sterling boasts a premium amenity package anchored by a rooftop swimming pool with panoramic Philadelphia skyline views, a state-of-the-art fitness center, a tech lounge, and a best-in-class retail tenant lineup that includes City Fitness, Misconduct Tavern, Old Nelson Market and more.