2301 Walnut Street

The property is ideally located in the vibrant Rittenhouse Square neighborhood, just a short distance from the prestigious University of Pennsylvania, the bustling 30th Street Station, the picturesque Schuylkill River Trail, and the thriving businesses along Market Street. This exceptional proximity offers an enticing opportunity for retail investors seeking to capitalize on the dynamic energy of Philadelphia's retail market. The area's accessibility to these renowned landmarks and bustling business districts further enhances the appeal of the property for prospective investors.SCOPE is pleased to present the exclusive purchase opportunity of 2301 Walnut Street after 30 years of ownership. Positioned between Philadelphia's most desirable neighborhood, Rittenhouse Square, and its largest institution, the University of Pennsylvania, 2301 Walnut sets the stage for a trophy high-rise development. Occupying an entire city block, the site is one of the few remaining large-scale parcels available for transformative redevelopment in Center City. The location is in the crosshairs of all Philadelphia has to offer, including the largest Eds and Meds institutions to the West, the largest private and public employers to the North, the heart of retail and hospitality to the East, and innovation to the South. The site’s CMX-4 zoning with bonuses equates to 1,200% FAR that offers developers the by-right ability to construct a wide range of mixed-use concepts—including luxury residential for rent or sale, life science/lab space, flagship retail, trophy office or hospitality. With zoning bonuses, the site supports over 240,000 square feet, excluding parking and core structure elements. The Southern elevation is positioned on Walnut Street, the city's most coveted retail corridor, boasting 100' of frontage with 23rd Street at 200'. Positioned at the heart of Greater Center City, which holds over 42% of the city’s jobs and leads the region in residential and commercial growth, the property is surrounded by an affluent, educated, and growing population. Within a half-mile radius, average household income exceeds $145,000, and over 75% of residents hold a bachelor’s degree or higher, underscoring strong demand for high-end residential and lifestyle amenities. The surrounding market supports premium rents averaging $4.50/SF, with top-tier luxury buildings in Rittenhouse achieving rents over $5.00/SF.