Philly Data Domination February 2025 Edition: 19103 vs 19147
Welcome back to Philly Data Domination, your trusted source for data-driven insights into the Greater Philadelphia commercial real estate market! In this month's edition, we're diving deep into two distinct zip codes: 19103 (Center City West) and 19147 (Bella Vista). Using a year's worth of Placer.AI visitation data, we'll uncover key trends and patterns that can inform your real estate decisions.
[Click on images to enlarge.]
Regional Change
The Regional Change map offers a year-over-year perspective on the evolution of foot traffic within each zip code. In 19103, we observe a robust increase of 18% in foot traffic compared to the previous year. This suggests continued stability and potential for growth in this area.
19147 also shows an increase of 5% in foot traffic. This is a positive sign for this area, indicating potential for growth and stability.
Monthly Visitation Trends
The Monthly Trends graphs provide a closer look at the month-by-month fluctuations in foot traffic for both zip codes. In 19103, we see a general upward trend in all visits, dining, and retail from January 2024 to January 2025. While there are some minor fluctuations, dining visits show a slight dip in July and August.
In 19147, the trend is more volatile, particularly for dining visits, with noticeable peaks and troughs throughout the year. Dining visits peak in spring and fall, while troughs are more evident in summer and winter for all visit types. Retail visits show less volatility compared to dining.
Identifying Key Drivers of Foot Traffic
Top Properties: All Property Types Combined
The Top Properties (All Property Types) chart reveals the most visited properties in each zip code. In 19103, the top property is The Shops at Liberty Place, a mixed-use development with a variety of retail, dining, and entertainment options located at 1625 Chestnut Street. This suggests that this area is a popular destination for both locals and tourists.
In 19147, the top property is River View Plaza, a mixed-use development with a focus on residential and office space located at 1100-5 S Columbus Boulevard. This suggests that this area is a popular destination for both residents and workers.
Top Properties: Retail
Top Properties: Retail
The Top Properties (Retail) chart reveals the most visited retail properties in each zip code. In 19103, the top retail property is The Shops at Liberty Place, which is also the top property overall. This suggests that this area is a popular destination for shopping.
In 19147, the top retail property is River View Plaza, which is also the top property overall. This suggests that this area is a popular destination for shopping.
Top Properties: Dining
The Top Properties (Dining) chart reveals the most visited dining properties in each zip code. In 19103, the top dining property is Starbucks, followed by The Continental Mid-town and Victory Brewing Company Philadelphia. This suggests that this area offers a diverse range of dining options.
In 19147, the top dining property is Ba Le Bakery, followed by Dunkin' Donuts and Burger King. This indicates a mix of quick-service and casual dining options in this area.
Top Properties: Travel
The Top Properties (Travel) chart reveals the most visited travel-related properties in each zip code. In 19103, the top travel property is The Westin, followed by Sheraton Philadelphia and The Windsor Suites. This highlights the concentration of hotels in this area, catering to travelers.
In 19147, the top travel property is Mario Lanza Dog Park, followed by Philadelphia's Magic Gardens and YOWIE (Hotel & Shop). This suggests a more diverse range of travel-related destinations in this area, including outdoor spaces and unique attractions.
In-depth Analysis: The Shops at Liberty Place vs. River View Plaza
In this in-depth analysis, we'll compare the trade areas of two prominent retail properties in Philadelphia County: The Shops at Liberty Place (19103) and River View Plaza (19147).
Trade Area Overlap
The Trade Area Overlap map reveals the extent to which the trade areas of these two properties overlap. The map highlights three distinct zones:
The Shops at Liberty Place's Primary Trade Area: This zone encompasses the area where The Shops at Liberty Place captures the majority of its customers.
River View Plaza's Primary Trade Area: This zone encompasses the area where River View Plaza captures the majority of its customers.
Overlap Zone: This zone represents the area where both properties share a significant portion of their customer base.
The map indicates a moderate degree of overlap for The Shops at Liberty Place and a larger overlap for River View Plaza. This suggests that River View Plaza competes more directly with other properties for a similar customer base.
Area Size
The Area Size table provides a more detailed breakdown of the size of each trade area zone. The table shows that The Shops at Liberty Place has a larger primary trade area than River View Plaza. However, the overlap zone is relatively small, indicating that both properties have their own distinct areas of influence.
| Zone | Area (sq. mi.) |
|---|---|
| The Shops at Liberty Place's Primary Trade Area | 82.25 |
| River View Plaza's Primary Trade Area | 28.49 |
| Overlap Zone | 26.95 |
Insights for Businesses and Developers
The Trade Area Overlap analysis provides valuable insights for businesses and developers looking to understand the competitive landscape in the Philadelphia County retail market.
Competition: The moderate degree of overlap between the trade areas of The Shops at Liberty Place and River View Plaza suggests that both properties compete for a similar customer base. Businesses looking to locate in either property should be aware of this competition and develop strategies to differentiate themselves.
Market Segmentation: The distinct areas of dominance for each property suggest that the retail market in Philadelphia County is segmented. Businesses should carefully consider their target market and choose a location that aligns with their customer base.
Expansion Opportunities: The relatively small overlap zone suggests that there may be opportunities for both properties to expand their trade areas. Businesses looking to expand their reach could consider opening a second location in the other property's primary trade area.
Overall, the Trade Area Overlap analysis provides a valuable tool for understanding the competitive landscape and identifying opportunities in the Philadelphia County retail market.
What's Next?
Stay tuned for our March edition of Philly Data Domination, where you can explore and compare 19107 (Center City East) and 19123 (Kensington) to uncover growth and development trends! In the meantime, we encourage you to share your thoughts and questions about the Philadelphia County commercial real estate market in the comments below!
Call to Action
Want to learn more about The Shops at Liberty Place, River View Plaza, or another property in the Philadelphia area? Leave a comment or sign up for market reports. Contact us today for a customized report!
Remember, knowledge is power in the world of commercial real estate. Let Philly Data Domination be your guide to success in the City of Brotherly Love.
