Philadelphia Retail Commercial Real Estate
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Retail Commercial Real Estate in Philadelphia
One of the most prominent economic powerhouses along the United States’ east coast, Philadelphia thrives in history, tourism, and commerce, leading it to nearly $500 billion in gross metropolitan output in 2019.
As the fourth largest consumer economy in the nation, Philadelphia serves a mighty tourism, commerce, and finance interest. The 11th-most visited city in the country, Philadelphia’s tourism intake is nearly unmatched, garnering nearly 750,000 visitors each year and over $7 billion in revenue.
For companies looking toward retail and shopping experiences in the City of Brotherly Love, you’ll have plenty of opportunity. The downtown corridor offers plenty of opportunity for high-visibility companies as well as those looking to expand their exposure, but the suburban markets add significant value to the retail space in Philadelphia.
Philadelphia’s downtown sector makes for fine retail shopping experiences in addition to Queen Village and the waterfront along the historic Delaware River, but reaching out toward more suburban-oriented customers provides companies significant value. Specialty shopping and dining experiences are best in the King of Prussia shopping facility, the largest mall along the East Coast. A historic destination since the 1960s, King of Prussia hosts name-brand stores like Neiman Marcus, Nordstrom, Bloomingdale’s, and Macy’s as well as local boutiques and eateries of every shape and size.
Market Stats
Philadelphia has 2,129 commercial real estate spaces for lease, representing 22,592,694 sqft space.
759 buildings are available for sale.
In the past 30 days, Philadelphia has had 158 spaces leased.