King of Prussia absorbing tons of new supply with new projects leasing at the fastest rate of any Philly suburb. https://product.costar.com/home/news/2001623459?market=28 …
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Replying to @PinkPoloShorts
Check out the Park Square transaction. UDR bought it off market, before it was stabilized, at a higher price per door than the Hanover/Omnia deal. And it’s outside of the town center proper. Serious institutional interest there. Excited to see what Indigo 301 trades for.
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Replying to @avespoli @PinkPoloShorts
Met Life bought Hanover/Onnia for $338k per door. UDR bought Park Square for $345k per door.
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Replying to @avespoli @PinkPoloShorts
What's driving this? Hard for me to imagine that a suburb famous for its mall of all things is absorbing so much multifamily. Is it vanguard close by? Sorry no costar login so cannot see original article.
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Replying to @Molson_Hart @PinkPoloShorts
Retail at the King of Prussia town center. A little west of the old mall. http://kingofprussia-towncenter.com/ . Here’s a sense of what’s going on there.pic.twitter.com/KBPr6Uny4i
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Replying to @avespoli @PinkPoloShorts
Bizarre! Doesn't look like that nice of a place to live.
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Replying to @Molson_Hart @PinkPoloShorts
Walkable retails, good transpiration access and close proximity to jobs. It’s a killer combination for successful multifamily, even if the retail isn’t your cup of tea.
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Reinventing the wheel haha
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