2A — March 2025 — M id A tlantic Real Estate Journal
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M id A tlantic Real Estate Journal
M id A tlantic R eal E state J ournal Publisher, Conference Producer ..............Linda Christman VP, Conference Producer .............................Lea Christman Editor/Graphic Artist ......................................Karen Vachon Mid Atlantic R eal E state J ournal ~ Published Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 117 HMS Halsted Dr., Hingham, MA 02043 USPS #22-358 | Vol. 37, Issue 3 Subscription rates: 1 year $99.00, 2 years $148.50, 3 years $247.50 & $4.00 single issue - plus postage REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 www.marej.com * Editor’s Note (Page 24B): Chez Eider and Andrew Townsend of Marcus & Millichap served as the listing agents for the $33.6 million sale of Mi-Place at West Rancocas, recognized by MAREJ as the Largest Multifamily Sale of 2024.
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2025 Philadelphia Multifamily Investment Forecast Report P HILADELPHIA, PA — Marcus & Milli- chap , has published its Philadelphia Multifamily Investment Forecast Report for 2025. “Philadelphia’s multifamily market is poised for growth in 2025, driven by strong em- ployment trends and rising demand from young profes- sionals and investors,” said Timothy Stephenson , re- gional manager. Marcus & Millichap’s 2025 Philadelphia Multifamily In- vestment Forecast Report provides investors with vital insight and analysis on the current state of the Phila- delphia multifamily market, including: Life sciences expansion fuels rental demand – With major in- vestments such as Legend Bio- tech’s new facility and Spark Therapeutics’ $500 million Innovation Center, job creation is expected to attract young
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professionals to rental markets in Center City and Fishtown. Employment growth re- mains strong – The metro area has added nearly 40,000 jobs since 2022, outpacing all other major Northeast metros. While job growth is expected to slow slightly in 2025, total em- ployment will have increased by 4% since 2022. Vacancy rates set to decline – For the first time in four years, demand is projected to outpace supply, reducing vacancy to 4.5%, making Philadelphia the third-tightest rental market in the Northeast. Rent growth accelerates – Effective rents are expected to rise at their fastest rate in three years, reaching an aver- age of $1,910 per month, nearly matching the national average. Investment opportunities
expand beyond the urban core – While institutional investment remains strong in the city, policy changes and rent-setting software restric- tions may shift investor focus toward high-performing sub- urban markets like Burlington and Bucks counties, where va- cancy rates hover around 3%. “The Philadelphia multifam- ily market continues to present significant investment poten - tial, with vacancy compression, rent growth, and expanding business sectors creating at- tractive opportunities for in- vestors,” added Stephenson. About Marcus & Millichap, Inc. Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commer - cial real estate investment sales, financing, research and advisory services. MAREJ
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Publication Date: April 18, 2025 APPRAISAL MARYLAND SOUTHERN NJ SOUTHEASTERN PA SPRING PREVIEW Due Date: April 9, 2025
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