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Old Posted Jan 12, 2017, 2:25 PM
Redddog Redddog is offline
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Join Date: Apr 2016
Location: Philadelphia
Posts: 109
Quote:
Originally Posted by jsbrook View Post
Probably right. Though we don't really need large footplates on that side of East Market (we have it with the Gallery on the other side), and some of the existing buildings are pretty interesting (or will be once the hideous tacky signage like "cash for gold" is removed by a better tenant). I'd rather just see a better class of tenant move in and this side of the block remain small footprints like Walnut and Chestnut west of broad. You're likely right, though. These owners may be looking to just cash out, and we'll instead see building demolition for bigger projects.
...because the guys putting up all the big projects are the only ones who can afford to buy these places in the first place. And if rents continue to rise, even the better class of tenant will have a hard time justifying the rent.
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