Philadelphia's commercial property heats up
Office properties seeing boom in demand that has sent average price per square foot to record
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Chicago
THE City of Brotherly Love is finally getting some affection from commercial real estate investors.
Philadelphia, where office properties last year attracted about half the investment of Washington and less than a 10th of Manhattan's total, is seeing a boom in demand that has sent the average price per square foot to a record. Office sales in the first half of this year more than doubled to US$1.4 billion, the highest since close to the market's peak in 2006, according to New York-based research firm Real Capital Analytics Inc.
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