Philadelphia Retail Market Trends: Asking Prices Are Up
LoopNet has released some trend data, which is always fun, particularly when represented by colorful lines. Here’s how it breaks down. For sales of retail commercial properties, the median asking price per square foot has increased by 8.6 percent in the last three months, and by 7.9 percent since last year.
The news is also good for lease trends.
As of September, the average asking price for retail rent was $20.54 per square foot. Again, this is an increase over the past three months — by 1.9 percent. It’s also a big jump since last year: 8.6 percent.
LoopNet’s interactive market trends graphs can be targeted to different cities and multiple variables. But be warned: It’s a bit addictive.
