Philadelphia

Amanuel Mekonen, left, of Greystone & Co. sees investment money coming to Philadelphia from New York, while Christophe Terlizzi of KeyBank says the bank likes value-add multifamily projects.

According to Maria Gonzalez of HACE, a community development corporation focused on the Latinx communities, immigrants, millennials and baby boomers have enhanced the city's diversity with their rising interest in urban living.

“We are seeing more foreign capital purchase assets in the Philadelphia region, which is driving up pricing," says Ken Wellar, managing partner of RRA.

In the largest of the agreements, Ameribest expanded its existing offices with the lease of another 6,924 square feet on the second floor of 990 Spring Garden.

Pembrook Capital's Stuart Boesky says he's bullish on Philadelphia's multifamily market and this transaction is an investment into a neighborhood that is in the process of rapid revitalization.

“Rittenhouse Square is an ideal place for Spaces to open their second Philadelphia location,” says CBRE's Stephen Kriz. “Their unique coworking environment provides a strong collaborative workplace for the many entrepreneurs and corporate users in Center City.”

With David Violette's arrival, Lee & Associates New Jersey now manages more than 11 million square feet of New Jersey and Pennsylvania property.

Lauren Gilchrist, senior vice president and senior research director, JLL, is moderating the Neighborhoods in Transition Panel at this year's GlobeSt.com Philadelphia Conference on Wednesday