Quote:
Originally Posted by summersm343
3737 Chestnut is 96% leased... so it's not the UCity market.
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Yeah I noted this as well. Bizarre that two projects that finished at almost the same time with such similar amenity profiles would lease up so differently. If anything, 3601 appears to have the better amenity package on paper, better (still not open) retail options at street level, and a location that's arguably as good as 3737. I recall they opened in Sept, so I think we could attribute some of it to missing back-to-school opportunities, but then I would expect them to make up most of that ground in this current quarter. Perhaps the next month's worth of data will show that they've closed the gap. I've never toured either building's interior, so perhaps there's something problematic about 3601. Or they're just asking too much.