Tag Archives: Philadelphia commercial real estate


Outlet Center CRE Market Will Weather Nine West Closures

The recent Chapter 11 bankruptcy reorganization filing of shoe and apparel wholesaler Nine West Holdings Inc. focused the retail spotlight on the outlet center segment of the commercial real estate industry.

Despite the bad news that Nine West is closing all 70 of its stores in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space, the good news is that leasing demand for outlet store space has been outpacing availabilities.

This report on U.S. and Philadelphia commercial properties is being made through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Privately held Nine West’s filing seeks to restructure about $1.6 billion in debt, much of it racked up in the national and Philadelphia commercial real estate markets when private equity firm Sycamore Partners Management acquired the company and affiliated brands in the 2014 for $2.2 billion.

While 80 percent of Nine West’s sales come from wholesale operations based in numerous national and Philadelphia commercial real estate properties, it also operates 70 brick-and-mortar retail stores – all of which it has now closed and is asking the court to cancel the leases on those locations. Sixty-seven of those locations were in outlet centers.

The store closures hit two publicly traded retail landlords hardest. Simon Property Group will lose 35 stores. Simon owns and operates a portfolio of 91 centers through Simon Premium Outlets and Tanger Factory Outlet Centers will see 19 stores currently among U.S. and Philadelphia commercial real estate listings closed out of its portfolio of 44 upscale outlet shopping centers.

The stores typically ranged about 3,000 square feet in size on average, which means about 105,000 square feet of newly vacant space for Simon and 57,000 square feet for Tanger.

That is a bigger chunk of the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space –comparatively for Tanger. During 2017, Tanger recaptured 201,000 square feet within its portfolio. The 2017 amount is nearly double the amount it took back a year earlier. Overall occupancy declined from 98 percent in 2016 to 97 percent last year.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

New Fed Chair Expects Inflation Rate to Move Higher

In a widely expected but still worrisome move for commercial real estate investors and financial markets, the Federal Reserve Bank recently raised the federal funds rate a quarter point from 1.5 percent to 1.75 percent, the first of three rate hikes expected in 2018 by the central bank and the sixth quarter-point increase since the beginning of 2016.

The Fed, in its first policy meeting under new Chair Jerome Powell, also raised the longer-term “neutral” rate, the level at which monetary policy neither boosts nor slows the economy. In a news conference, Powell said the economy in general, as well as commercial real estate market – including Philly office space, Philly retail space and Philly industrial space, has recently gained momentum and he expects inflation to finally move higher after years running below its 2 percent historical target.

This CoStar report on the most recent Fed meeting and its effect on national and Philadelphia commercial properties is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

The Federal Open Markets Committee noted in a statement at the end of its most-recent two-day meeting that the market of U.S. and Philadelphia commercial real estate properties has continued to strengthen, and that economic activity has been rising at a moderate rate.

The FOMC noted job gains in recent months, underscoring the central bank’s growing confidence that tax cuts and government spending will continue to boost the economy surrounding national and Philadelphia commercial real estate listings.

While the Fed plans to follow a path of gradual rate increases, Powell said policymakers need to be cautious about inflation. The chair warned that financial market asset prices in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – are high relative to their longer-run historical norms in some areas.

“You can think of some equity prices. You can think of commercial real estate prices in certain markets. But we don’t see it in housing, which is key,” Powell said. “Overall, if you put all of that into a pie, what you have is moderate vulnerabilities in our view.”

In its Monetary Policy Report to Congress last month, Fed policymakers noted “valuation pressures continue to be elevated across a range of asset classes, including equities and commercial real estate. In general, valuations are higher than would be expected based solely on the current level of longer-term Treasury yields,” the report said.

Although rates remain low by historical standards, interest rate increases are top of mind for executives this year involving U.S. and Philadelphia commercial real estate listings. In a sentiment survey by law firm Seyfarth Shaw, 80 percent of respondents expected multiple rate increases, and clearly expect that the increases will begin to weigh on commercial property markets in 2018.

More than one-third, 37 percent, of those dealing with U.S. and Philadelphia commercial real estate properties who were surveyed in February by the Chicago-based firm predicted three rate hikes by the Fed over the next 12 months, up from just 14 percent a year ago.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Playtime Is Over; Toys R Us Closes Its Remaining 735 Stores Nationwide

Beloved by kids and landlords, but largely shunned by consumers this past holiday shopping season, Toys R Us has officially announced it is winding down operations and closing 735 stores, encompassing an estimated 29.3 million square feet of mostly big-box retail space.

The Wayne, NJ-based toy retailer already had closed or had planned to close 8.5 million square feet of its brick-and-mortar stores as part of the Ch. 11 bankruptcy reorganization it initiated last September. This latest move by a major player in the commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – impacts nearly 33,000 employees.

It also wipes out about $1 billion in value of U.S. and Philadelphia commercial real estate properties, according to Toys R Us estimates of the difference in value of 791 occupied vs unoccupied stores. The appraised value of the stores unoccupied was listed at $1.55 billion. Toys R Us owns 273 of those stores and either leases or ground leases the other locations.

“I am very disappointed with the result, but we no longer have the financial support to continue the company’s U.S. operations,” said Dave Brandon, chairman and CEO of Toys R Us, in announcing an “orderly process to shutter” its U.S. operations.

This CoStar report on the Toys R Us closing and its effect on national and Philadelphia commercial properties is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Despite the closing announcement, there still is a chance up to 200 U.S. stores among the firm’s national and Philadelphia commercial real estate listings could remain open. Toys R Us is negotiating a deal for its Canadian operations and the bidder is reported to be interested in a transaction that could combine up to 200 of the top performing U.S. stores with the retailer’s Canadian operations.

A spokesperson for Van Nuys, CA-based toymaker MGA Entertainment recently confirmed CEO Isaac Larian and affiliated investors have made a bid for the retailer’s Canada operations.

“If there is no Toys R Us, I don’t think there is a toy business,” Larian said in a statement. “Toys R Us Canada is a good business. They run it efficiently and have good leadership. At the right price, it makes economic sense.”

While discussions continue involving this major development in the U.S. commercial real estate market, including Philly office space, Philly retail space and Philly industrial space, Toys R Us is seeking court approval to implement the liquidation of inventory in all the U.S. stores, subject to a right to recall any stores included in the proposed Canadian transaction.

Although Toys R Us officials said they did not foresee this outcome dealing with its U.S. and Philadelphia commercial real estate listings when it initially filed for bankruptcy reorganization last fall, the timing of the bankruptcy heading into this past holiday shopping season appeared to contribute to a negative perception among shoppers regarding the retailer’s viability.

The retailer reported dramatically lower than expected holiday sales at its stores in its U.S. and Philadelphia commercial real estate properties, a factor on which the company had been counting to bolster support among its creditors, the company detailed in the bankruptcy court filing.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Issues of Declining Occupancy, Rising Rent Spread to Top Properties

Even the best-performing and most well-located U.S. malls and shopping centers are beginning to feel the pinch of flat-lining rent growth and a vacancy uptick as e-commerce continues to take market share from brick-and-mortar retailers, and the retail sector enters the late stages of the real estate cycle.

Despite a relatively strong finish for retailers in the final three months of 2017, buoyed by improved consumer spending and an expanding economy, demand for U.S. retail property in the commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – was generally lackluster for the year, according to market highlights presented by CoStar managing consultant Ryan McCullough and director of U.S. research Suzanne Mulvee in the Fourth Quarter 2017 State of the U.S. Retail Market.

This CoStar report on national and Philadelphia commercial properties is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

“All told, we are seeing some signs of a slowdown in the retail market,” said McCullough, noting that retail absorption totaled about 69 million square feet for 2017, down about 30 percent from 2016 and 2015 levels, with developers expecting to deliver roughly 80 million square feet of new retail space in 2018 as demand from retail tenants begins to soften. “Given the slowdown in demand and some uptick in supply, we might anticipate the national retail vacancy rate, which went flat in 2017, to start to rise modestly in 2018,” McCullough said.

Reflecting the slow investment sales volume observed by CoStar analysts across all commercial property types, retail investment involving U.S. and Philadelphia commercial real estate properties fell to just below $20 billion in the fourth quarter, its lowest level since mid-2014. In addition to a diminished appetite among cautious buyers, many sellers also are pulling properties off the market after failing to achieve pricing that meets their expectations, McCullough said.

One sign of the softening market conditions is a moderate rise in vacancies and flat-lining of rental rate growth in recent quarters at the country’s top located and most productive Class A malls, urban luxury centers and shopping centers. Nationwide, U.S. and Philadelphia commercial real estate properties have consistently logged the highest location quality scores, as ranked by CoStar’s proprietary formula measuring the combined effects of demographics, density of surrounding commercial property and market competition on individual retail centers.

While retailers are readily absorbing some new supply that’s flowing into the national and Philadelphia commercial real estate listings market – especially spaces of 20,000 square feet and below – larger boxes in certain centers ranked in the top 10th percentiles of location quality are in many cases taking longer to lease up, reflecting broader weakness among U.S. power center tenants.

Meanwhile, at the opposite end of the quality spectrum, the number of “zombie” power centers with vacancy rates of 40 percent or more has increased 60 percent since 2016 due to a spike in store closures by Kmart, Toys R Us and other big-box retailers and grocers.

The closures and bankruptcy filings being seen in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – are mounting weekly and likely will not abate any time soon. Toys R Us plans to close another 200 stores and lay off corporate personnel, in addition to the 170 previously announced store closures The Wall Street Journal reported recently. Also, Northeast supermarket chain Tops Markets LLC reports it has filed for Chapter 11 bankruptcy protection.

While total retail space per capita has decreased by about 5 percent since 2009, the amount of anchored space per capita among U.S. and Philadelphia commercial real estate listings increased by the same amount during that period amid competition from big-box chains that have added food and groceries to compete with grocery chains.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Expected Interest Rate Increases This Year Remain Top CRE Concern

Rising interest rates remain the top concern for commercial real estate executives this year, with 80 percent of respondents in a sentiment survey by a Chicago law firm expecting law firm expecting multiple rate increases amid clear expectations that the anticipated increases would begin to weigh on commercial property markets in 2018.

For the second straight year, an overwhelming 98 percent of executives in the commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – surveyed by the law firm Seyfarth Shaw predicted at least one increase this year, with 37 percent projecting three rate hikes by the Federal Reserve over the next 12 months, up from just 14 percent a year ago.

This CoStar report on national and Philadelphia commercial properties is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

“As the real estate industry embraces the tax cuts, low unemployment, and stock market success, industry insiders expect today’s economic factors to force the hand of the new Federal Reserve chair and, consequently, shape their 2018 investment strategies,” Seyfarth Shaw attorneys Christa Dommers and Ronald Gart said in revealing this year’s top concerns of property executives in the third annual Real Estate Market Sentiment Survey.

“Respondents clearly believe that multiple interest rate increases will start to have a material adverse impact on the commercial real estate market,” Gart and Dommers said.

Federal Reserve Chairman Jerome Powell, in his first extensive public comments since taking over for Janet Yellen earlier this month, recently told a Congressional committee the economy encompassing U.S. and Philadelphia commercial real estate properties is stronger than at the beginning of the year, and the central bank plans to raise rates gradually.

“My personal outlook for the economy has strengthened since December,” Powell told the House Financial Services Committee under questioning about whether the Federal Open Market Committee might boost its number of projected increases from three to four next month when the FOMC formally updates its outlook.

“After easing substantially during 2017, financial conditions in the United States have reversed some of that easing,” Powell told the committee. “At this point, we do not see these developments as weighing heavily on the outlook for economic activity, the labor market and inflation. Indeed, the economic outlook remains strong.”

Analysts following U.S. and Philadelphia commercial real estate markets attributed part of the recent sharp decline in the Dow Jones Industrial Average to Powell’s optimistic comments. Over the past week or so, the DJIA has shed nearly 1,200 points, falling more than 4.5 percent, including a more than 500-point decline in response to government plans to impose tariffs on steel and aluminum imports.

About 63 percent of the 157 executives dealing in both national and Philadelphia commercial real estate listings, the strongest surveyed by Seyfarth Shaw, believe the U.S. CRE industry can absorb an interest rate increase of between 0.5 percent and 1.5 percent. About 15 percent believe real estate markets can only handle an increase of up to half a percentage point, roughly equal to the number of respondents who said the industry could withstand from roughly 1.5 percent to 2 percent in increases.

The U.S. federal funds rate now stands at 1.5 percent. Three more hikes would take it to 2.25 percent.

However, a newly released CBRE survey of the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – suggests that investors aren’t as concerned about rising interest rates as they are about a potential worldwide “economic shock” that could undermine occupier demand.

“Despite the possibility of escalating interest rates, the majority of investors intend to acquire assets in the Americas,” said Brian McAuliffe, president of institutional properties in CBRE’s Capital Markets group. “Risk tolerance is expected to remain unchanged but investors’ search for yield and asset diversification is pushing them toward value-add assets, secondary markets and alternatives [assets] in 2018.”

The CBRE Americas Investor Intentions Survey revealed that respondents involved with U.S. and Philadelphia commercial real estate listings were more positive going into 2018 than last year due to several factors, including the long economic expansion, new U.S. tax cuts and favorable regulatory changes. The largest share (45 percent) of respondents plan to increase acquisitions in the Americas over last year, a reversal of the downward or flat trend of the prior two surveys.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Largest U.S. Banks Shrinking Commercial Real Estate Loan Balances

The nation’s 25 largest banks, which collectively control more than $11 trillion in assets, reduced their exposure to commercial real estate loans across the board last month, reflecting an ongoing change in the CRE finance markets, and a softening in loan demand.

The amounts on the largest banks’ books for construction and development, multifamily and nonresidential loans in the nation’s commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – all were down at the end of January compared to year end, according to weekly Federal Reserve Bank data. This was the first time all three have dropped in the same month since the Federal Reserve started tracking the individual categories in January 2015.

This CoStar report on real estate loan balances is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Leading the decline was a $2.7 billion drop in nonfarm, nonresidential loans, resulting in an annualized decline of more than 7.5 percent. This is fifth-consecutive month the category has shrunk, the seventh time in the last eight months, and the largest-ever month-to-month decline. Over the last eight months, the amount of nonresidential commercial loans involving the U.S. and Philadelphia commercial real estate markets has dropped by $7.6 billion.

In their fourth-quarter earnings conference calls over the last few weeks, several of the nation’s largest banks working with national and Philadelphia commercial real estate listings reported that some CRE deal activity was being pushed further into 2018, a resurgent CMBS market and competition from smaller banks as well as life insurers also were taking away business.

Some of the decline in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – can be attributed to pipelines being a little softer going into the year following year-end deal activity, said John Turner, president and head of Regions Financial Corp. (NYSE: RF) Corporate Banking Group. But he added, Regions has also intentionally been shrinking and de-risking its investor real estate book.

Weekly Federal Reserve numbers tracking loans on U.S. and Philadelphia commercial real estate listings also show construction and development loans have dropped by $700 million in January from year-end, also an annualized decline of more than 7.5 percent.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

CRE Pricing Trends Continue to Hold Despite Transaction Slowdown

Healthy economic growth combined with steady demand and favorable interest rates provided a backdrop for continued growth in CRE pricing through the final quarter and the full year of 2017, according to the latest release of CoStar Commercial Repeat Sale Indices (CCRSI) data.

The equal-weighted U.S. Composite Index extended its streak of stronger growth with a 14.7 percent increase for 2017 and a 0.7 percent gain for the fourth quarter as the scope of the pricing recovery broadened across the full size and quality spectrum of the nation’s commercial real estate market – including Philly office space, Philly retail space and Philly industrial space. The value-weighted U.S. Composite Index rose 5.7 percent and 0.8 percent, respectively, during the same periods.

This CoStar report on the national pricing trends in the commercial real estate market is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

All the major commercial property-type indices in the U.S. and Philadelphia commercial real estate markets, including land and hospitality, posted gains in 2017 and ended the year on a positive note, marking the sixth consecutive year of pricing recovery.

Reflecting the healthy appetite for logistics properties rate among national and Philadelphia commercial real estate listings, the Industrial index increased 17.7 percent, well ahead of the 9.9 percent pace set over the previous two years as industrial vacancy hit the lowest point of the cycle in 2017 despite a record year for new logistics construction.

The Prime Multifamily Metros Index also increased by a slower 4.2 percent in 2017, suggesting weaker growth in higher-value apartment properties in primary markets. Rising deliveries and already-elevated pricing contributed to a slower rate of multifamily price growth last year in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space. While a slowing from the prior period in 2015 and 2016, the overall U.S. Multifamily index rose by a still-robust 8.5 percent in 2017.

The rate of growth decelerated in the prime market indices and in some property segments among U.S. and Philadelphia commercial real estate listings ticking and the prime markets indices within each property sector dominated by the larger core coastal metros, generally advanced more slowly than the broader property-type indices in 2017, reflecting heightened growth at the lower end of the market.

Despite a high-profile wave of store closures and retailer bankruptcies that have pressured comparable-store sales, the U.S. Retail Index posted a 10 percent gain over the year. Store chains targeting less-productive locations for closure as demand for stronger locations remained robust. For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Growth Expected Throughout National Office Space Market in 2018

The U.S. office market continued to benefit from strong fundamentals going into 2018, despite continued deceleration in net absorption, occupancy, and rental rate growth.

With robust corporate profits and continued office-use job growth, that trend is expected to hold through the year as the recently approved tax cuts and expected gradual increases in interest rates make the nation’s commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – an attractive place for investors to park capital and get cash flow.

“You’re going to like GDP growth over the next few months,” CoStar Portfolio Strategy’s Hans Nordby said during CoStar’s year-end 2017 State of the U.S. Office Market report, co-presented with managing consultant Paul Leonard. “Corporate profit growth is a good story, and if you already think it’s strong, look underneath the hood. It’s even better.”

This CoStar report on the national office space market is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

The improved profit growth outlook for the services sector and other industries in the U.S. and Philadelphia commercial real estate markets that drive office demand, along with expected higher GDP growth projected at a very strong 2.5% to 3% in the next few months, should help office job growth hold steady at strong levels for the next few month, Nordby said.

The vacancy rate among national and Philadelphia commercial real estate listings held steady at 10.1% at the end of the fourth quarter 2017, unchanged from the same period a year prior, despite a large amount of new supply and a 20% decline in office net absorption to 65 million square feet for 2017.

Meanwhile, the total amount of office property acquired by investors declined about 15% in 2017 from the prior year, largely due to a sharp drop in office trades in New York City and the rest of the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space.

Despite the declining sales volume, average prices in primary markets continued to rise, prompting investors to fan out into secondary markets such as suburban Phoenix, where Transwestern Investment Group and JDM Partners acquired Marina Heights, State Farm’s office campus in Tempe, AZ, for $930 million at $459 per square foot.

Leonard, however, sees the national office vacancy rate within both U.S. and Philadelphia commercial real estate listings ticking up beginning this year through 2020 as the expected new supply of space finally begins to outpace demand.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Banks Close Record Number of Branches in 2017

Somewhat lost in the wave of store closure announcements last year was news that another major user of retail space abandoned a record amount of square footage. U.S. banks accelerated their pace of branch consolidation last year, closing a net of 2,069 locations, an 18 percent increase over the net number closed in 2016.

The net number of closed branches affecting the commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – amounts to about 10.46 million square feet of retail space closed, based on the average size of existing U.S. bank branches. That amount, however, does not include reduced square footage from branch relocations.

This CoStar report on bank closures and the effect they are having on national and Philadelphia commercial properties is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

That pace of closures could speed up even more in 2018 in markets with U.S. and Philadelphia commercial real estate as many bank holding companies reported plans to deploy a significant portion of expected savings from tax reform legislation enacted last month into increased spending on technology. They also are expected to support increasing reliance on digital and mobile technology by bank customers to conduct more of their banking activity.

Wells Fargo & Co. is the poster child of the movement. It closed a net of 194 branches last year – the highest among all U.S. banks — and it expects to close 250 branches or more in 2018 in parts of the U.S. and Philadelphia commercial real estate market, plus as many as 500 in each 2019 and 2020.

“Based on our current assumptions regarding consumer channel behavior and our own technology advances as well as other factors, we can see our total branch network declining to approximately 5,000 by the end of 2020,” said John Shrewsberry, CFO of Wells Fargo. As of Sept. 30, 2017, Wells Fargo operated 6,082 U.S. branches.

The bank is also reducing properties and other businesses including stand-alone mortgage locations and is transitioning operational activities in its auto business from 57 regional banking centers into three larger regional sites in a move that potentially could impact national and Philadelphia commercial real estate listings.

Citizens Financial Group represents another approach banks are taking in shedding excess space involving the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – which will reduce the overall square footage of each branch.

“There’s a little bit of pruning of the number of locations, but the greater element of that program is trying to take 4,200-square-foot branches and turn them into 2,500- or 2,200-square-foot branches,” said Bruce Van Saun, chairman and CEO of Citizens Financial. “I’d say, by 2021, I think we’ll have gone through 50 percent of the branches as the target.”

Citizens operates more than 1,100 branches. The rent savings from the effort will be reinvested in digital technologies, Van Saun added.

Meanwhile, 85 percent of banks dealing with U.S. and Philadelphia commercial real estate listings plan to make digital transformation programs a business priority for 2018, according to the EY Global Banking Outlook 2018.

“In order for banks to weather the performance challenges that lie ahead, they must prepare for a future led by innovation and technology,” said Jan Bellens, EY Global Banking & Capital Markets Deputy Sector Leader. “The pace of innovation continues to accelerate, and banks must have a strategy in place to ensure their implementation of new technology is effective.”

According to EY, 59 percent of banks surveyed anticipate that their technology investment budgets will rise by more than 10 percent in 2018.

Banks closing the most branch locations (net) in 2017:

  • Wells Fargo Bank, 194
  • JPMorgan Chase Bank, 137
  • The Huntington National Bank, 134
  • First-Citizens Bank & Trust Co., 127
  • Bank of America, 119
  • SunTrust Bank, 119
  • KeyBank, 112
  • PNC Bank, 109
  • Branch Banking and Trust Co. (BB&T), 92
  • Capital One, 73

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Rising Costs, Labor Shortage Could Force Commercial Construction Delays

With a large increase in the amount of office construction nationwide and continued building of warehouse, distribution facilities, and multi-family housing, the outlook for commercial development hasn’t been this strong in years.

However, the increased building activity is exacerbating the already-keen competition for skilled construction workers in the commercial real estate market – including Philly office space, Philly retail space and Philly industrial space. Combined with the rising cost of construction materials, fuel, and services, the labor shortage is expected to squeeze commercial contractors this year, potentially pushing back the timetables for some CRE projects in the development pipeline.

This CoStar report on national and Philadelphia commercial properties is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Recent data from the U.S. Bureau of Labor Statistics and the temporary employment agency Manpower Group suggest contractors’ costs continue to rise and they are having a tough time finding labor, in many cases luring away workers currently involved in other U.S. and Philadelphia commercial real estate properties from rival firms with offers of higher pay, according to Kenneth Simonson, chief economist for Associated General Contractors, which recently released its 2018 forecasts and membership survey.

Three-quarters of construction firms involved in the U.S. and Philadelphia commercial real estate markets expect to expand their payrolls this year amid rising confidence that economic conditions will remain strong as tax rates fall and as the White House and Congress pursue business deregulation, according to AGC’s 2018 Construction Industry Hiring and Business Outlook.

Of the more than 1,000 construction companies and contracting firms that participated in the survey, 44 percent expect net expansion of demand for all types of construction services related to both national and Philadelphia commercial real estate listings, the strongest period of growth in the history of the 10-year-old survey.

This good news is tempered by concerns in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – over workforce shortages, rising labor, and business costs and whether government plans to invest $1 trillion in the nation’s roads, highways, bridges, power grid, and other infrastructure can move forward.

Rising materials, fuel and other non-labor costs also are squeezing contractors dealing with U.S. and Philadelphia commercial real estate listings. The Producer Price Index for inputs to construction, excluding capital investment, labor, and imports, increased 4.8 percent year over year in November, exceeding the 3 percent PPI increase for new nonresidential building construction. The PPI for all goods used in construction, including diesel fuel and other items consumed by contractors, rose 5.6 percent, the largest increase in six years.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

WCRE 2017 FOURTH QUARTER REPORT

SOUTHERN NEW JERSEY & PHILLY CRE MARKETS FINISH A STRONG 2017 WITH STRONG FUNDAMENTALS BUT MIXED RESULTS

January 8, 2018 – Marlton, NJ – Commercial real estate brokerage WCRE reported in its latest quarterly analysis that the Southern New Jersey market is in largely good shape, despite a seasonal drop in leasing activity.

 

“Aside from an expected leasing slow-down in the fourth quarter, 2017 was a strong year for our market,” said Jason Wolf, founder and managing principal of WCRE. “All the elements for success are in place, including a labor market that is heating up, record gains in the financial markets, and continued deal and prospecting activity and enthusiasm.”

There were approximately 210,525 square feet of new leases and renewals executed in the three counties surveyed (Burlington, Camden and Gloucester), which was about half the total compared with the previous quarter. While leasing slowed considerably, the sales market stayed active, with more than 1.88 million square feet on the market or under agreement and an additional 205,364 square feet trading hands.

New leasing activity accounted for approximately 25.7 percent of all deals. Overall, net absorption for the quarter was in the range of approximately 65,250 square feet.

Download The Report (PDF) >>>

Other office market highlights from the report:

  • Overall vacancy in the market is now approximately 10.1 percent, which is an uptick of a third of a point from the previous quarter.
  • Average rents for Class A & B product continue to show strong support in the range of $10.00-$14.50/sf NNN or $20.00-$24.50/sf gross for the deals completed during the quarter. These averages have stayed within this range for most of this year.
  • Vacancy in Camden County improved throughout the year, standing at 11.7 percent for the quarter, up a bit from the third quarter, but down from 13.3 percent at the beginning of the year.
  • Burlington County vacancy was at 8.5 percent, a slight increase in a year that saw marked improvement overall.

 

WCRE has expanded into southeastern Pennsylvania, and the firm’s quarterly reports now include a section on transactions, rates, and news from Philadelphia and the suburbs. Highlights from the first quarter in Pennsylvania include:

  • Philadelphia’s office market saw increasing vacancy in the Central Business District during 2017, as several large tenants emphasized efficiency and returned large blocks to the market. Still, we see increasing employment and new construction, both of which bode well for continued strength.
  • The Philadelphia retail sector continues to struggle. It has been affected by the same challenges facing retail businesses everywhere. Namely, the shift to online retailing. Still, there were some positive signs amid the announced store closings and bankruptcies. Community shopping centers remain an area of strength in the market, with vacancy rates nearly half the national average.
  • The Philadelphia industrial market continues its hot streak, and the outlook is positive. Vacancy rates for flex and industrial properties in Philadelphia are well below the regional and national averages, and this is expected to continue. Industrial vacancy in Philadelphia is currently at 7 percent, and net absorption was in the range of 1.7 million square feet.

WCRE also reports on the Southern New Jersey and Philadelphia retail market, noting that holiday spending reached the highest levels since 2011, with both online and brick-and-mortar retailers reaping gains. Overall holiday retail sales posted gains of 4.9 percent over last year, with online retailers gaining 18.1 percent. Other highlights from the retail section of the report include:

  • Retail vacancy in Camden County stood at 8.5 percent, with average rents in the range of $12.75/sf NNN.
  • Retail vacancy in Burlington County stood at 9.9 percent, with average rents in the range of $13.83/sf NNN.
  • Retail vacancy in Gloucester County stood at 7.2 percent, with average rents in the range of $14.64/sf NNN.

The full report is available upon request.

 

About WCRE

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE online at www.wolfcre.com, on Twitter & Instagram @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com, www.southjerseyindustrialspace.com, www.southjerseymedicalspace.com, www.southjerseyretailspace.com, www.phillyofficespace.com, www.phillyindustrialspace.com, www.phillymedicalspace.com and www.phillyretailspace.com.

The Highest Value in Leases for Office and Industrial Real Estate

The top 1,000 corporate, government and institutional occupiers in the U.S. hold leases worth an aggregated rent value of more than $135 billion, encompassing just over 8.4 billion square feet of office, industrial, and flex space across about 115,500 properties, according to a recent analysis of CoStar Group tenant data.

The study ranks occupiers by the current value of rents paid across their U.S. real estate portfolios in CoStar’s database. Total rent value was calculated by multiplying the space occupied by tenants in each building by the estimated rent value per property in the commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – and providing a total lease value for each occupier across markets.

This CoStar report on national and Philadelphia commercial properties is being offered through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

Of the top 1,000, Amazon.com had the highest overall rent value relative to its occupied square footage among U.S. and Philadelphia commercial real estate properties with a total $1.34 billion in rent value across 352 U.S. properties totaling more than 130 million square feet of industrial, office, and flex space. Amazon controls large blocks of office space in Manhattan, San Francisco and its headquarters city of Seattle, among other markets.

The high dollar value of the internet retailer’s lease obligations can be attributed to its robust absorption of office space in the U.S. and Philadelphia commercial real estate markets in recent years, along with its growing network of hundreds of fulfillment, customer service, and other distribution facilities.

For purposes of the study, which did not include retail properties, Amazon also has broadened its property footprint with the non-grocery assets in its June acquisition of Austin-based Whole Foods Market, Inc. Amazon occupancy is sure to grow even larger in coming years with the anticipated announcement of the site for its proposed $5 billion HQ2 corporate headquarters campus, which will have capacity for 50,000 employees and 8 million square feet.

The internet seller’s request for proposals (RFP) announcement set off arguably the largest economic development and business attraction scramble involving national and Philadelphia commercial real estate listings in modern corporate history last summer, with Amazon revealing that it received proposals from 238 cities and regions across 54 states, provinces, and local or regional jurisdictions throughout North America. Rumors are swirling that Amazon will soon announce the short list of contenders or even the winning city.

“The number of banks and tech companies among the largest rent payers was revealing,” said CoStar Senior Research Director Corey Durant. “Who would have thought the Dept. of Justice would have the fourth-highest rent value among the 1,000 largest tenants? Amazon, Apple, Google and Microsoft were all near the top as one might expect. However, DaVita Healthcare, with its network of dialysis treatment centers stood out as a definite riser at #21.”

Other significant findings in the study included the high rent value in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – contributed by federal government agencies and other state, local and regional jurisdictions. Of the top 25 occupiers in total rent value, the U.S. Dept. of Justice ranked just behind Wells Fargo at #4, representing total rent value of $822 million in more than 850 facilities totaling 24.5 million square feet.

After Amazon, the #2 and #3 spots involving U.S. and Philadelphia commercial real estate listings are held by two of the nation’s largest banks, Bank of America and Wells Fargo. Other financial institutions in the top 25 include JPMorgan Chase, Morgan Stanley, Citigroup and the U.S. Treasury Dept., which occupies nearly 300 properties for a total of nearly 13.5 million square feet with a rent value of about $347 million, ranking #22 among the top 1,000 occupiers.

For more information about Philly office space, Philly retail space and Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly office space, Philly retail space and Philly industrial space.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly office space, Philly retail space or Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly office space, Philly retail space or Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.