parkside portfolio - loopnet...the last portion of the portfolio is a 18,982 square foot cmx3...

PARKSIDE PORTFOLIOFOUR PROPERTIES | PARKSIDE AVE | URBAN RETAIL | MIXED USE

VALUE ADD CMX3 BUILDING

PARKSIDE LOFTS

OFFERED EXCLUSIVELY BY

Philadelphia, PA2005 Market Street #1510Philadelphia, PA 19103P: 215.531.7000

Section 1: Portfolio SummaryPortfolio Overview.....................................................4Site Plan....................................................................5Investment Overview...................................................6Section 2: Davita Dialysis & Santander BankProperty Overview......................................................8Rent Roll....................................................................9Income & Expenses...................................................10Section 3: Goodwill & Oak Street HealthProperty Overview...................................................12Rent Roll..................................................................13Income & Expenses...................................................14

Section 4: Parkside LoftsProperty Overview....................................................16Rent Roll..................................................................17Income & Expenses...................................................18Section 5: Value Add CMX3 BuildingProperty Overview....................................................20Section 6: Tenant DescriptionsTenant Overviews................................................22-25 Section 7: Market OverviewRegional & Aerial Map.......................................27-28Demographics..........................................................29Location Overview...............................................30-33

NON-ENDORSEMENT AND DISCLAIMER NOTICENON-ENDORSEMENTSMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The

presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of

Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included

for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the

party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus &

Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only

a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.

Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the

subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the

presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition

of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its

occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;

however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted

any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the

information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a

service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.

Marcus & Millichap Real Estate Investment Services of Seattle, Inc. License: RB062197C

Derrick DoughertyFirst Vice PresidentPhiladelphia, [email protected]: PA RS305854

Scott WoodardNational Retail Group Philadelphia, PA [email protected] RS329242

Mark KrantzNational Retail GroupPhiladelphia, PA PA RS336064 | NJ 1537786

Steven GarthwaiteNational Retail Group Philadelphia, PA PA RS332182

Parkside Portfolio

TABLE OF CONTENTS

Broker of Record: Sean BeucheLicense: PA RM424190

Lead Agents:

King Of Prussia, PA200 N. Warner RoadKing Of Prussia, PA 19406P: 215.531.7000

Our Locations:

New York, NY260 Madison Avenue5th FloorNew York, NY 10016

PARKSIDE PORTFOLIOFOUR PROPERTIES | PARKSIDE AVE | URBAN RETAIL

Portfolio Analysis

DrexelUniversity

University ofPennsylvania

Center City Philadelphia(1.56M Total Population)


M

ParkWest Town Center(305k Square Feet of Retail)

Coming Soon

PARKSIDE LOFTS

4

Parkside Portfolio

PORTFOLIO OVERVIEW

GROSS LEASABLE AREA

97,148sfPRICE PER SF

$190.43PORTFOLIO PRICE

$18,500,000

$308,014NOI

5.50%CAP RATE

$5,600,255PRICE

$443,812NOI

7.00%CAP RATE

$6,340,171PRICE

$435,629NOI

8.50%CAP RATE

$5,125,047PRICE

BEING OFFERED AS

Portfolio

$1,434,527PRICE

$75.57PRICE PSF

QUALIFIED OPPORTUNITY

ZONE

DAVITA DIALYSIS & SANTANDER BANK GOODWILL & OAK STREET HEALTH

PARKSIDE LOFTS (OFFICE BUILDING) VALUE ADD 18,982SF CMX3 BUILDING

Parkside Portfolio

SITE PLAN ±3.13ACRES

4 SeperateTAX PARCELS

±174PARKING SPACES

12

3

4

Parkside AveParkside Ave

N. 5

0th

St

PROPERTY DESCRIPTION NRSF

1 Value Add CMX3 Building Delivered Vacant | Value Add 18,982sf

2 Parkside Lofts Fully Occupied | 12 Tenants 36,720sf

3 Davita Dialysis & Santander Bank New Construction | 2 Tenants 11,870sf

4 Goodwill & Oak Street Health Recent Renovation | 2 Tenants 29,576sf

6

Investment OverviewMarcus & Millichap, on behalf of ownership, is pleased to exclusively offer the Parkside Portfolio. The portfolio provides potential investors the opportunity to acquire a predominantly stabilized portfolio with a value-add portion located in Philadelphia. The 97,148 square foot portfolio includes a brand new NNN Santander and Davita strip center, recently renovated street front retail property with Oak Street Health and Goodwill, a fully occupied 5 story office building, and a value-add CMX3 building.

The new Santander and Davita is a 11,898 square foot building that has over 60 parking spaces and a curb cut entrance on Parkside Avenue. Both tenants are nationally recognized and have over 10 years remaining with rent increases as well as options. The Goodwill and Oak Street Health is a recently renovated 29,576 square foot property with 100 parking spaces. The Parkside Lofts is 36,720 square foot 5 story office building that is fully occupied with 12 tenants. The last portion of the portfolio is a 18,982 square foot CMX3 building that is to be delivered vacant. The property was renovated in 2019 and received a new façade and upgraded interior.

Situated in the West Parkside section of Philadelphia, this portfolio is highly visible along Parkside Avenue which see’s over 14,433 vehicles per day. The portfolio also benefits from exceptional demographics in the sub-market with the one and three-mile populations being 32,457 and 395,016 respectively. Geographically, Center City Philadelphia is located only 5 miles away and the Philadelphia International Airport is approximately 12 miles away. It is located adjacent to the 305,000-square-foot Park West Town Center and is nearby to notable retailers such as Lowe’s, Wells Fargo, ShopRite, Planet Fitness, McDonald’s, and more.

4 PROPERTIES LOCATED ALONG PARKSIDE AVENUE

OPPORTUNITY TO ACQUIRE 97K+ SQUARE FEET OF RETAIL AND OFFICE IN THE PHILADELPHIA SUB-MARKET

VALUE ADD OPPORTUNITY – DELIVERED VACANT 18,982SF BUILDING THAT HAS BEEN RECENTLY RENOVATED

HIGHLY VISIBLE & ACCESSIBLE ALONG PARKSIDE AVENUE

DENSELY POPULATED AREA WITH 3 MILE POPULATION OF 395,016 | PARKSIDE AVE: 14,433 VPD

BRAND NEW DAVITA, SANTANDER, AND OAKSTREET HEALTH WITH ±10 YEAR NNN LEASES

SUPERIOR POSITIONING IN AN IMPROVING RETAIL SUBMARKET

Financing Information:

FINANCING CONTACT:Stephen FilippoDirector - Capital Markets(212) [email protected]

Please Contact for Loan Information.

DAVITA DIALYSIS & SANTANDER BANKTWO TENANT STRIP CENTER | 2019 CONSTRUCTION

Property Analysis

8

NET OPERATING INCOME

$308,014PHILADELPHIA, PA

4952-64 Parkside AvePRICE

$5,600,255CAP RATE

5.50%

Davita Dialysis & Santander Bank

PROPERTY ANALYSIS

SQUARE FOOTAGE: 11,898

LOT SIZE: .92 Acres

YEAR BUILT: 2019

OCCUPANCY: 100%

PARKING: 60 Spaces

ZONING: CMX3

TENANTS:

9

TENANT NRSF GLA % LSD LXDBASE RENT RENT STEPS

OPTIONS DATE RECOVERIESANNUAL RENT/SF DATE ANNUAL RENT/SF

Davita (ISD Renal) 9,548 80.25% May-19 May-29 $238,700.04 $25.00 Annually 2% Annual

Increases 2(5yr) Options

May-29

May-34

NNN+10%

Admin Fee

Santander 2,350 19.75%4th Quarter

2019

4th Quarter

2029 $84,600.00 $36.00

4th Quarter

2024 $93,060 $39.60

3(5yr) Option

1(4yr) Option

4th Quarter

2029NNN

Total Leased Space 11,898 100% 2019 Rent $323,300.04

*Estimated start date for Santander is 4th quarter 2019. Tenant will begin fitout August 2019.


RENT ROLL

10

INCOME

Scheduled Base Rental Revenue(1) $323,300

Expense Reimbursement Revenue(2) $9,153

Admin Fee $735

Effective Gross Income $332,453

EXPENSES(3)

Real Estate Taxes $2,285

Insurance $3,500

CAM $9,153

Management Fee(4) $8,311

Total Operating Expense $(23,249)

Capital Reserves(5) $(1,190)

Net Operating Income $308,014

Underwriting Notes: (1) Scheduled Base Rent is based on 2019 numbers (2) Expense Reimbursements are based on contractual lease agreement numbers (3) Operating Expenses are 2019 Estimates *Property is subject to a 10 Year tax abatement starting 2020(4) Management fee assumed to be 2.5% of effective gross income (5) Capital reserves assumed to be $.10/SF

EXPENSE PSFReal Estate Taxes $0.19

Insurance $0.29

CAM $0.77

Davita Admin Total CAM $9,153.00

Pro Rata Share $7,345.28

Admin charge $734.53


INCOME & EXPENSES

GOODWILL & OAK STREET HEALTHTWO TENANT STREET RETAIL | RECENTLY RENOVATED

Property Analysis

12



5050 Parkside AvePRICE

$6,340,171CAP RATE

7.00%

Goodwill & Oak Street Health

PROPERTY OVERVIEW

SQUARE FOOTAGE: 29,576

LOT SIZE: ±1.5 Acres

YEAR BUILT/RENOVATED: 1975/2018

OCCUPANCY: 100%

PARKING: 102 Spaces

ZONING: CMX3

TENANTS:

13

TENANT NRSF GLA % LSD LXDBASE RENT RENT STEPS

OPTIONS RECOVERIESANNUAL RENT/SF DATE ANNUAL

Goodwill 15,350 51.90% Jan-16 Jan-23 $211,216 $13.76

Jan-20

Jan-21

Jan-22

$217,509.50

$224,110.00

$230,864.00

1 (5yr) OptionModified

Gross

Oak Street Health 14,226 48.10% Oct-18 Oct-33 $244,380 $17.18

Oct-21

Oct-23

Oct-28

$305,859.00

$336,444.90

$370,089.39

2 (5yr)Options

1 (4yr)OptionNNN

Total Leased Space 29,576 100% 2019 Rent $455,596

*Goodwill reimburses for utilities and snow removal *Goodwill has a kickout clause in year 4 if sales do not exceed $1,000,000 | 180 day notice *Water bill based on bill for Goodwill, Oak Street, and Day Care*Day Care not part of the offering*Day Care will reimburse landlord full pro rata share of water bill and snow removal


RENT ROLL

14

INCOMEScheduled Base Rental Revenue(1) $455,596

Expense Reimbursement Revenue(2)

Flat CAM charge(Oak Street) $71,130

Utilities Reimbursement(Goodwill/Day Care) $7,895

Snow Removal Reimbursement(Goodwill/Day Care) $3,290


EXPENSES(3)


Insurance $26,171

CAM

Janitorial $5,200

Snow Removal $5,000

Landscaping $2,000

Repairs and Maintenance $13,536

Alarm $600

Utilities $12,000

CAM Total $38,336


Total Operating Expense $(88,183)



Underwriting Notes: (1) Scheduled Base Rent is based on 2019 numbers (2) Expense Reimbursements are based on contractual lease agreement numbers(3) Operating Expenses are 2019 Estimates based on trailing expense reports

*Day Care not part of the offering *Day Care will reimburse landlord full pro rata share of water bill and snow removal *Property is subject to a 10 Year tax abatement on starting 2019(4) Management fee assumed to be 3% of effective gross income (5) Capital reserves assumed to be $.20/SF

EXPENSE PER SQAURE FOOT Real Estate Taxes $0.25

Insurance $0.88

CAM $1.30


INCOME & EXPENSES

PARKSIDE LOFTS5 STORIES | FULLY OCCUPIED OFFICE SPACE

Property Analysis

16



4946 Parkside AvePRICE

$5,125,047CAP RATE

8.50%

Parkside Lofts

PROPERTY OVERVIEW

SQUARE FOOTAGE: 36,720sf

LOT SIZE: ±.51 Acres

YEAR RENOVATED: 2015

OCCUPANCY: 100%

PARKING: 12 Spaces

ZONING: CMX3

OFFICE TENANTS: 12 Tenants

Click Here For More Interior Photographs

https://www.google.com/maps/uv?hl=en&pb=!1s0x89c6c7112c6151cf%3A0xf4ef11bbea9ddfc9!2m22!2m2!1i80!2i80!3m1!2i20!16m16!1b1!2m2!1m1!1e1!2m2!1m1!1e3!2m2!1m1!1e5!2m2!1m1!1e4!2m2!1m1!1e6!3m1!7e115!4shttps%3A%2F%2Flh5.googleusercontent.com%2Fp%2FAF1QipNwJjU_flGI_9aQ

17

TENANT UNIT NRSF GLA % LSD LXDBASE RENT RENT STEPS

OPTIONS DATE RENT RECOVERIESANNUAL RENT/SF DATE ANNUAL

Rockland Commercial 100 1,120 3.05% $24,000.00 $21.43 Modified

Gross

Helping Indivduals Succeed 101 900 2.45% Dec-18 Jun-22 $24,000.00 $26.67 January

Annually

$100/month

Increase

2 Year

options

180 day notice

from TT or LL7%increase per year

Modified

Gross

Deborah Home Care 102 800 2.18% Jul-17 Jun-20 $17,526.60 $21.91 1 Year

Options

120 day notice


Modified

Gross

My House Cookies 104 1,100 3.00% Aug-08 Jul-20 $22,219.92 $20.20 1 Year

Options

270 day notice

from TT or LL

10% for first two options

5% after that

Modified

Gross

Lancaster Abstract 105-

106 950 2.59% Jun-17 May-20 $20,400.00 $21.47

1 Year

Options

120 day notice


Modified

Gross

Mental Health Associates 200 6,600 17.97% Mar-15 Feb-25 $84,413.16 $12.79 March

Annually 3% Increase

1(5yr)

Option 180 day notice 3% Annual Increase NNN

Friend Rehabilitation

Program Inc.300 6,600 17.97% May-18 Jun-25 $101,401.44 $15.36

June


1 Year

Options

180 day notice

from TT or LL7%increase per year NNN

Casmir Care Service 400 6,600 17.97% Feb-14 Nov-23 $77,406.00 $11.73 1 Year

Options

270 day notice

from TT or LL


5% after that

Modified

Gross

Alpha Office Supplies 500 6,600 17.97% Aug-13 Aug-23 $72,000.00 $10.91 April-20 $78,000 2(5yr)

Option 150 day notice

$84,000

$90,000

Modified

Gross

Past Your Bedtime Children

CenterAnnex 1,400 3.81% Nov-07 May-22 $42,000.00 $30.00

February

Annually

$100/month

Increase

1 Year

Options

270 day notice

from TT or LL


5% after that

Modified

Gross

Age In Place Homecare B1 950 2.59% Aug-17 Jul-22 $10,500.00 $11.05 Aug-20 $11,100 1 Year

Options

120 day notice


Modified

Gross

Goodwill B2 3,100 8.44% Oct-17 Dec-22 $42,000.00 $13.55 Oct-21 $43,245 1(5yr)

Option 270 day notice

$46,500

$49,600

Modified

Gross

T-Mobile (Antenna) 0.00% Dec-99 Dec-29 $21,042.12 December


2(10yr)

Option

Zayo Bandwidth (Antenna) 0.00% Jan-09 Jan-20 $3,000.00 15(1yr)

Options60 Day notice

Total Leased Space 36,720 100% 2018 Rent $561,909.24

Parkside Lofts

RENT ROLL

*Rockland Commercial willing to execute new lease at COE.* Office tenants have ability to use parking lot behind Davita Dialysis & Santander Bank building.

18

INCOMEScheduled Base Rental Revenue(1) $561,909

Expense Reimbursement Revenue(2)

Mental Health CAM $20,000

Friends Rehab CAM $15,900

Allowance For Vacancy(3) $(26,893.36)


EXPENSES(4)


Insurance $27,813

CAM

Janitorial $5,200

Snow Removal & Landscaping $2,000

Repairs and Maintenance $21,727

Alarm $600

Utilities $32,271

Trash $1,200

CAM Total $62,998


Total Operating Expense $(127,942.50)



Underwriting Notes: (1) Scheduled Base Rent is based on 2019 numbers (2) Expense Reimbursements are based on contractual lease agreement numbers (3) Vacancy is based on 5% of base rent minus the rental income from the two cell phone towers (4) Operating Expenses are 2019 Estimates based on trailing expense reports (5) Management fee assumed to be 2.5% of effective gross income (6) Capital reserves assumed to be $.20/SF

EXPENSE PER SQUARE FOOT Real Estate Taxes $0.62

Insurance $0.76

CAM $1.72

Parkside Lofts

INCOME & EXPENSES

VALUE ADD CMX3 BUILDINGDELIVERED VACANT | VALUE ADD

Property Analysis

20

Value Add CMX3 Building

PROPERTY OVERVIEW

SQUARE FOOTAGE

18,982sfPHILADELPHIA, PA

4942-44 Parkside AvePRICE

$1,434,527PRICE PSF

$75.57

ZONING: CMX3

LOT SIZE: ±.2 Acres

SQUARE FOOTAGE: 18,982sf

UPDATED IN: 2018/2019

PROPERTY FEATURES:

• Fully Sprinklered

• Operating Elevator

• Newly Renovated Bathrooms

PROPERTY EXPENSES:

TAXES: $15,782

INSURANCE: $13,654

CAM: $9,210

TENANT OVERVIEWSDAVITA | SANTANDER | GOODWILL | OAK STREET HEALTH

Parkside Portfolio

OWNERSHIP:Davita inc.

FOUNDED1999

WEBSITE:www.davita.com

HEADQUARTEREDdenver, co

NO. OF LOCATIONS2,500+

STORE TYPEmedical/Kidney care

DaVita, Inc. is an American healthcare company best known as one of

the largest kidney care providers in the United States. Originally named

Total Renal Care, the company restructured as DaVita in 1999. The com-

pany provides a variety of services including in-center hemodialysis,

in-center nocturnal dialysis, peritoneal dialysis, home hemodialysis, vas-

cular access management, chronic kidney disease education, and renal

diet assistance.

DaVita, Inc. is headquarter in Denver, Colorado and reported $10.877 bil-

lion in revenues in 2017. There are approximately 2,510 outpatient dial-

ysis centers located in the United States serving approximately 198,000

patients. The company also operates 237 outpatient dialysis centers

located in 11 countries outside the United States.

Parkside Portfolio

TENANT OVERVIEW

Santander Bank, N.A., was founded in 1902 as “Sovereign Bank”, a sav-

ings and loan in Wyomissing, Pennsylvania. Santander Bank is a wholly

owned subsidiary of Spanish Santander Group. It is based in Boston

and its principal market is the northeastern United States. It has $57.5

billion in deposits, operates about 650 retail banking offices and over

2,000 ATMs, and employs approximately 9,800 people. It offers an array

of financial services and products including retail banking, mortgages,

corporate banking, cash management, credit card, capital markets, trust

and wealth management, and insurance.

Sovereign Bank was rebranded as Santander Bank on October 17, 2013;

the stadium, arena, and performing arts center for which it has naming

rights were also rebranded.

OWNERSHIP:SantanDer Group

FOUNDED1902

WEBSITE:www.santanderbanK.com

HEADQUARTEREDboston, ma

NO. OF LOCATIONS650+

STORE TYPEbanK

DEPOSITS$57.5 billion

Parkside Portfolio

TENANT OVERVIEW

OWNERSHIP:GooDwill inDuStrieS international

FOUNDED1902

WEBSITE:www.goodwill.com

HEADQUARTEREDderwood, md

NO. OF LOCATIONS162+/-

STORE TYPEthrift store

Goodwill operates as a network of independent, community-based or-

ganizations with 162 local Goodwills in the United States and Canada. It

slowly expanded from its founding in 1902 and was first called Goodwill

in 1915. In 2014, Goodwill organizations generated a total of $5.59 billion

in revenue, 83 percent of which was spent directly on programs. In 2015,

the group served more than 37 million people, with more than 312,000

people placed into employment.

Goodwill is funded by a massive network of retail thrift stores which op-

erate as nonprofits as well. Goodwill’s answer to its profit status is “As a

unique hybrid called a social enterprise, we defy traditional distinctions.

Instead of a single bottom line of profit, we hold ourselves accountable

to a triple bottom line of people, planet, and performance.”

Parkside Portfolio

TENANT OVERVIEW

Representative Photo

OWNERSHIP:oak Street HealtH

FOUNDED2013

WEBSITE:www.oaKstreethealth.com

HEADQUARTEREDPennsylvania

NO. OF LOCATIONS28

Primary care center

STORE TYPE

Oak Street Health, a network of primary care centers providing a new

model of value-based primary care to Medicare patients, will open three

new centers in the Philadelphia area in early fall. Led by Regional Vice

President, Amyn Andharia, Oak Street Health’s expansion will provide

more equitable, accessible healthcare to people in medically under-

served communities. Oak Street Health will accept multi-ple health plans

as well as traditional Medicare in Philadelphia.

The new centers will serve Philadelphia residents in the West Phila-

delphia, Mount Airy, Oak Lane, Logan, Aramingo and Port Richmond

neighborhoods. Patients who visit these centers will have access to

transportation to and from the center, individualized treatment plans,

longer-than-average appointments and community-centered support that

goes beyond symptom treatment.

Parkside Portfolio

TENANT OVERVIEW

MARKET OVERVIEWPHILADELPHIA, PA | PARKSIDE AVE.

Parkside Portfolio

M

ParkWest Town Center(305k Square Feet of Retail)

Coming Soon


PARKSIDE LOFTS

N

ew York

100 Miles to New York

W

ilmington

38 Miles to Wilmington

Parkside Portfolio

REGIONAL MAP

Trenton

25 Miles to Trenton

PHILADELPHIA, PA 1 MILE 3 MILES 5 MILES

Population 32,457 395,016 1,031,906

Households 12,603 159,913 421,979

Household Income $36,543 $61,888 $69,994

Traffic Counts 14,433 VPD

SUBJECT PROPERTY

Schuylkill Yards(14 Acre New Development)

DrexelUniversity

Penn PresbyterianCenter

Children’s HospitalOf Philadelphia

Penn Park

University ofPennsylvania

Center City Philadelphia(1.56M Total Population)

Subject Property(Parkside Portfolio)

Philadelphia Museum of Art

Eastern State Penitentiary

GirardCollege

PhiladelphiaZoo

ParkWest Town Center

M

Haddington Plaza

M

Lancaster Ave Retail

WINE & SPIRITS M

1 MILE RADIUS

3 MILE RADIUS

SubjectProperty

5 MILE RADIUS

Philadelphia, PA

MSA DEMOGRAPHICS

POPULATION 1 MILE 3 MILE 5 MILES

2024 Projection 33,105 404,493 1,059,344

2018 Estimate 32,457 395,016 1,031,906

2010 Census 30,504 362,316 929,461

Population Growth (2019-2024) 2.00% 2.40% 2.66%

HOUSEHOLDS 1 MILE 3 MILE 5 MILES

2023 Projection 12,819 163,829 433,430

2018 Estimate 12,603 159,913 421,979

2010 Census 12,025 146,120 378,561

Household Growth (2019-2024) 1.71% 2.45% 2.71%

INCOME 1 MILE 3 MILE 5 MILES

Average Household Income $36,543 $61,888 $69,994

Median Household Income $24,261 $38,257 $44,668

DEMOGRAPHICS:

Philadelphia, PA

LOCATION OVERVIEWPHILADELPHIA

OVERVIEWGreater Philadelphia, the nation’s seventh largest metropolitan area and fifth largest city,

is situated in the heart of the Northeast Corridor and is the keystone of major north-south,

east-west highway and rail networks. The Philadelphia metro encompasses 11 counties

in four states: Philadelphia, Delaware, Bucks, Chester and Montgomery in Pennsylvania;

Gloucester, Burlington, Camden and Salem counties in New Jersey; New Castle County in

Delaware; and Cecil County in Maryland. More than 100 million people are within a one-

day drive of Philadelphia. The Greater Philadelphia market area spans nineteen counties in

Southeastern Pennsylvania, Southern New Jersey and Northern Delaware.

Philadelphia boasts strong economic fundamentals. The Gross Metropolitan Product for

the Philadelphia Region is the eighth largest in the U.S. ($433.9 billion dollars in 2017).

The strength and desirability of Greater Philadelphia is characterized by its economic

diversity and population density. Its location, high concentration of educational, medical

and government facilities, and a strong transportation network underscore these strengths.

Residents of the Philadelphia area have always enjoyed a high quality of life.

HIGHLY EDUCATED WORKFORCEPhiladelphia has one of the highest concentrations of higher learning, including the University of Pennsylvania, Temple and Drexel University.

EXPANDING HEALTH-SCIENCE SECTORThe metro is a significant pharmaceutical, medical & biosciences center. Companies include Merck, GlaxoSmithKline and Johnson & Johnson.

TRANSPORTATION NETWORKInterstate 95 connects Philadelphia to both New York City and Washing-ton, D.C., and Interstate 76 links the region to Pittsburgh and Cleveland.

TOP EMPLOYERS:Organization/Company Employees

1) University of Pennsylvania/Health System 32,000

2) Comcast Corporation 22,000

3) Thomas Jefferson University/Health 20,000

4) Temple University/Health System 17,000

5) Trinity Health Corporation 13,600

6) Merck and Co. Inc. 12,500

7) The Childrens Hospital of Philadelphia 10,000

8) Drexel University 10,000

9) The Vanguard Group Inc. 9,500

10) Virtua Health System 8,000

9TH BEST PUBLIC TRANSIT SYSTEM

IN THE U.S.

60% OF U.S.POPULATION

WITHIN 2 HR FLIGHT

7TH LARGEST MSA WITH OVER 6

MILLION PEOPLE

6.1% GROWTH OF 20-34 YR

OLDS SINCE 2006

PHILADELPHIA'S PREMIUM DEMOGRAPHIC PROFILE IS STRATEGICALLY LOCATED IN ONE OF THE NATIONS LARGEST AND MOST POWERFUL MSA'S

The Property is located in the West Parkside section of the City of Phil-adelphia which is 6.5 Miles directly outside of Center City. This area is a target location for employees working in one of the country's largest MSAs and powerful economies.

Philadelphia has an impressive development pipeline which will further the economic progress throughout the Greater Philadelphia region, The skyline of Philadelphia is dense with cranes for new developments, most notably the new Comcast Innovation and Technology Center, which opened in 2019, will be the tallest building in the city at 59 stories and is a $1.2 billion investment, Additional Philadelphia developments include the FMC Tower at Cira Centre South 1450,000+ SFI and Drexel's "Schuylkill Yards" which will total 5 million gross square feet and span 14 acres in University City. Cherry Hill's neighbor of Camden also has some major developments occurring at the Camden Waterfront, where there is a $1 billion, 1.7 million square foot project planned which will occupy of 16 acres. Collectively, these projects will continue to benefit Philadelphia's residential areas by increasing incomes and job growth.

PHILADELPHIA OVERVIEW

Regional Shopping Destination

Population With High Income Profiles

Ease of Commute To Major Employers

One Of The Largest MSA's

Greater Philadelphia is a major, natural hub of the Northeast Corridor. It is situated on the

Delaware River at the center of the most prosperous, densely populated region in America.

More than 100 million people are within a one-day drive of Philadelphia. The Greater

Philadelphia market area spans thirteen counties in Southeastern Pennsylvania, Southern

New Jersey and Northern Delaware. Philadelphia boasts strong economic fundamentals.

The Philadelphia Region ranks ninth in terms of gross metropolitan product, fifth in terms

of personal income and is the nation’s fourth largest media market. The strength and

desirability of Greater Philadelphia is characterized by its economic diversity and population

density.

Philadelphia is Pennsylvania’s largest city, the business capital of the state, and ranks

second in size only to New York City on the East Coast. Within a 300-mile radius is an

intermediate market containing 20% of the United States population and 25% of its

disposable income. Philadelphia is 130 miles northwest of Washington, DC and 90 miles

southwest of New York City.

Philadelphia, PA

LOCATION OVERVIEW

millennial growth rates1st

in housing value and opportunity among top metros1st

lowest office rental rates among top metros2nd

largest metro in the Northeast, with $432 billion in GRP3rd

largest media market4th

largest population, with 6.3 million people5th

SHARE OF 2017 TOTAL EMPLOYMENT

11%GOVERNMENT

6%MANUFACTURING

18%TRANSPORTATION

16%BUSINESS SERVICE

4%CONSTRUCTION

22%EDUCATION

9%HOSPITALITY

2%INFORMATION

Philadelphia, PA

TRANSPORTATION INFRASTRUCTURE The Greater Philadelphia Area is served by nearly 2,500 miles of highways and roads. Major interstates, state and local highways in the Greater Philadelphia Area include:

Interstate 95, a major north-south freeway follows the

Delaware River and passes by the Philadelphia

International Airport.

Interstate 476 (the Blue Route) connects I-95 with the PA

Turnpike as it runs north-south, continuing northward to

Allentown as the Northeast Extension of the PA Turnpike.

Interstate 76 (the Schuylkill Expressway) links Philadelphia

and southern New Jersey to the western Suburbs through

Center City.

The Pennsylvania Turnpike provides east-west access,

as well as northern connections via Interstate 476

(Northeast Extension) and connections to the NJ Turnpike.

US-202 runs through the southeastern part of the U.S.

state of Pennsylvania, passing through the western and

northern suburbs of Philadelphia.

U.S. 30 runs east–west across the southern part of the

state, passing through Pittsburgh and Philadelphia on its

way from the West Virginia state line.

The Philadelphia International Airport serves as the

principal gateway for the 7th largest metropolitan

population in the US. Located approximately 25

miles from Norristown, Philadelphia International

Airport is accessible from the linkages with I-76

and I-476. The Airport consists of 7 terminals, 126

boarding gates, and 6 active cargo terminals. Each

day, 444 flights to 124 domestic and international

locations depart Philadelphia International Airport.

Encompassing more than 200 businesses that employ

40,000 people, PHL has a $15.4 billion economic

impact on the region.

Philadelphia International Airport:

Philadelphia is at the heart of the Northeast Corridor

rail system. Amtrak’s 30th Street Station, one of

America’s finest transportation hubs and a historical

landmark in Philadelphia, plays host to 20,000

commuters daily and is the third busiest Amtrak

station in the U.S.. Center City Philadelphia is

accessible to all surrounding Pennsylvania counties

via the Southeastern Pennsylvania Transportation

Authority (SEPTA). One of the busiest networks in the

country, with annual ridership of over 300 million,

SEPTA is one of only two truly multi-modal transit

properties in the U.S.

Philadelphia Rail Systems:

The Philadelphia Metro Area has three major ports:

The Port of Philadelphia (PhilaPort), South Jersey

Port System and The Port of Wilmington, Delaware.

These ports create over $1 billion in business revenue

on an annual basis and are major economic drivers

in the region. A comprehensive capital investment

program of more than $300 million has been allotted

to improve the Port of Philadelphia’s infrastructure,

warehousing, and equipment will double container

capacity. The Port Development Plan will boost the

region’s share of imports and exports, create more

jobs and enable Pennsylvania to compete globally.

Philadelphia Port Systems:

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