Rents in some of the new developments in King of Prussia are falling as developers face disrupted lease-ups due to the coronavirus pandemic, writes Jacob Adelman for The Philadelphia Inquirer.

The worldwide crisis that is restricting the shopping and renting as well as threatening the livelihoods of potential home-hunters has coincided with a huge increase in inventory in the area.

While it is hard to determine which buildings have the highest vacancies, most likely the fiercest competition for tenants in the region will be in and around King of Prussia along Route 202, where a lot of new apartment complexes have been built.

The new inventory in the township includes the recently opened 342-unit Hanover King of Prussia apartments near the Town Center and the 248-unit Skye 750 project close to Valley Forge Casino Resort.

Not far off, in East Norriton, is the newly opened 261-unit Residences at Bentwood. The 244-unit Arlo Apartments is also within eight miles of the township.

Now the question is, wrote an analyst for commercial real estate firm JLL, “whether absorption can keep pace after such a significant jump in supply.”

Read more about the issue at The Philadelphia Inquirer by clicking here.