Today we speak to Mark Thomson of Philadelphia, where he is a Senior Managing Director at JLL. Mark and his team can boast the largest market share of transactions in the Philadelphia area.
“Eds & Meds.” These are two terms industry insiders use to describe the Philadelphia market, with education and health care being the major employment drivers. Due to low entry costs and higher cap rates Philadelphia continues to attract buyers from New York looking to diversify. Thanks to the city’s many elite universities and its relative affordability, over the last 20 years it has been number one in the nation for Millennial population growth.
In this episode Mark explains to us why Philadelphia is one of the most well-balanced markets in the nation. Whether you’re looking to make money through appreciation or cash flow this is an episode you’ll want to hear.
Note: this episode was recorded before the Coronavirus outbreak, so some of the pricing quotes may be different, but the drivers are not... Let’s go…