fbpx
Building Successful Relationships

Monthly Archives: March 2017


Demand for Industrial Properties Expected to Remain Strong

The outlook for industrial real estate in the commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – couldn’t be better, a recent outlook report notes, despite uncertainty regarding potential changes in federal trade policies and the large amount of new warehouse and distribution space currently under construction.

Several sources show demand continuing to grow in the warehouse and distribution sector of the U.S. and Philadelphia commercial real estate markets, including healthy consumer spending, increased demand for e-commerce space, and growth in the medical cannabis industry.

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

Rent growth for warehouse and distribution properties as well as for U.S. and Philadelphia commercial real estate properties, again ranked among the highest in the world amid historically low vacancies, according to an aggregation of reports collected by the CoStar Group.

The U.S.-led market rent growth in 2016, rising 5 percent or more in some markets, compared to an average 4 percent increase globally among both national and Philadelphia commercial real estate listings. Major coastal markets near large population centers outperformed all other U.S. markets by more than 150 basis points, the reports note.

Rent growth for the warehouse sector is poised to continue as market vacancies remain at or near historic low levels and demand is healthy throughout the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space. Development activity, while high, remains disciplined. Particularly in the U.S., where the studies project a balanced supply/demand picture expected to keep market vacancies low throughout 2017.

But there is another evolving trend impacting the warehouse segment of U.S. and Philadelphia commercial real estate listings: A growing medical-marijuana industry, which also is contributing to the increased demand for warehouse properties in select markets.

After Colorado voters approved the use and sale of recreational marijuana in November 2012, industrial rental increases in Denver posted double digit growth in 2013, 2014 and 2015. If the rent growth that Denver experienced is any indication of what could happen in California or other states where recreational marijuana has been legalized – including Pennsylvania – the impact to warehouse space fundamentals could be even greater.

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) or Lee Fein (lee.fein@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 is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, 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.

Share

WCRE Appointed Exclusive Agent to Lease F.V. Evans Elementary School

fv evans elementaryWolf Commercial Real Estate (WCRE) is pleased to announce that it has been appointed exclusive agent to market and lease the F.V. Evans Elementary School, located at 400 Route 73 Marlton, NJ 08053.  The listing adds to WCRE’s growing number of assignments of educational and institutional properties in the Philadelphia and Southern New Jersey region.

Download Printable Article>>> 

About The Evans School

The Evans School consists of more than 78,213 square feet and is situated on an approximate 11.86 Acre site offering excellent visibility on the heavily traveled Route 73 in Marlton New Jersey. 

The Evans School planning to close at the end of June, 2017 has a campus-like atmosphere with 41 Classrooms, 6,248 square foot gym, 2,172 square foot library, a bus drop off area, 87 parking spaces and multiple ball fields and play areas. The school has undergone several additions and renovations.   In the summer of 2000, a new 5th grade wing was added.  In the summer of 2004, a new playground was built, and the inside of Evans school has been constantly updated and refreshed, including new roofing during the summer of 2011.

John Recchinti, School Business Administrator of Evesham Township School District said, “We were searching for experienced commercial real estate firms who were knowledgeable about local demographics and school properties.  WCRE stood out because of their extensive experience working with schools and a breadth of knowledge of the local real estate market and community.  They also understood our mission and showed sensitivity concerning our position and desires.”

WCRE’s institutional specialist team of Chris Henderson and Jason Wolf said, “WCRE is proud to partner with Evesham Township Board of Education as our latest institutional relationship in Southern New Jersey. We look forward to applying our WCRE 360 marketing approach to find a new user for this highly-desirable property.”
A marketing brochure is available upon request.

About Wolf Commercial Real Estate

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.

Share

WCRE Honored With 2016 CoStar Power Broker Award

WCRE, a local South Jersey commercial real estate firm was selected by commercial real estate’s largest research organization (CoStar) as one of the top leasing and sales firms in the market. 

Read Full Article (PDF)>>>

Wolf Commercial Real Estate (WCRE) has been selected by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, to receive a CoStar Power Broker TM Award. This annual award recognizes the “best of the best” in commercial real estate brokerage by highlighting the firms and individual brokers who closed the highest transaction volumes in commercial property sales or leases in 2016 within their respective markets.

With the largest independently researched database of commercial real estate property information available online, CoStar can easily identify the top firms and brokers in each market throughout the U.S. and Canada. All awards are based on transaction data maintained in CoStar’s commercial real estate database.

WCRE qualified as one of the top commercial brokerage firms in the Philadelphia region based on total leasing transactions closed during the year. In order to be selected for this honor, WCRE’s overall transaction volumes were evaluated by CoStar against other commercial real estate brokerage firms active in its region, and subsequently ranked among the top firms in the market.

“We are thrilled to have earned this recognition from CoStar for a fourth consecutive year. I am grateful to our entire team and to all our clients and associates. Congratulations to all the winners,” said Jason Wolf, managing principal of WCRE, who was separately honored as a Top Office Leasing Broker.

“With such an active year in commercial real estate, CoStar is proud to honor the individual brokers and firms who perform at the industry’s highest level,” said CoStar Group founder and CEO Andrew C. Florance. “These industry leaders deserve to be recognized for their expertise, hard work and superior deal-making abilities. We extend our congratulations to this year’s winners on their exceptional sales and leasing success.”

The complete list of 2016 CoStar Power Broker Awards winners can be found at CoStarPowerBrokers.com.

About CoStar Group

CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with more than 10 million registered members. Apartments.com, ApartmentFinder.com, ApartmentHomeLiving.com, and Westside Rentals form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Through an exclusive partnership with Move, a subsidiary of News Corporation, Apartments.com is the exclusive provider of apartment community listings across Move’s family of websites, which include realtor.com®, doorsteps.com and move.com.  CoStar Group’s websites attracted an average of nearly 24 million unique monthly visitors in aggregate in 2016. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of over 3,000 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com. 

About WCRE

Wolf Commercial Real Estate 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.

Share

Why a Reception Area is Important For Your Office

reception areaThe reception area or waiting lobby plays an integral part of your office. It’s the first impression that an individual makes and can either help or deter business from you. If you didn’t know already, you spend a considerable amount of your day in your office. Being that your office is practically your home, your clients and potential clients will visit your home (office) frequently to conduct business and discuss other matters. Therefore, you must plan the architecture and interior of your office in such a way that promotes conversation and motivates you and your employees to achieve success.

The reception area or waiting lobby plays an integral part of your office. It’s the first impression that an individual makes and can either help or deter business from you. We wanted to take this opportunity to discuss a few reasons as to why your reception area is important for your business:

Download Full Printable Article>>>

YOUR RECEPTION AREA SETS THE TONE FOR THE FUTURE

This is the first place where a visitor or client is received as he enters your office. By having a look at the reception area, a visitor can develop the first impression about how well managed is the organization. Since visitors are requested to wait in the reception area, there must be proper arrangements for their sitting and refreshments. Visitors sitting in the lobby are mostly alone, so they have ample amount of time to focus on their surroundings. Therefore, it is vital to keep everything in the lobby well arranged and in a proper shape. You should hire some dynamic individuals to manage your reception area efficiently.

IT AFFECTS THE VISITORS AND YOUR EMPLOYEES’ MINDSET

Visitors come to your office from distant places. They may be a bit irritated due to traffic jams or a variety of other reasons. Therefore, your lobby should be designed and decorated in such a way that it provides comfort and relaxation to the visitor. Same is the case with your employees. They come to work daily with some or the other tension in their mind. So, the reception area should induce calmness and positivity in your employees.

IT HELPS IN IMPROVING BUSINESS RELATIONSHIPS

It is the first place where clients meet before proceeding to conference rooms. So, you should pay adequate attention to the level of comfort provided by the furniture placed in the reception area. You should make proper arrangements for air conditioning in this area and try to make the atmosphere vibrant. The talks held in this part of the office are really important and therefore its ambience can have a positive or negative effect on business relationships. The more comfortable the visitors are; the more fruitful is the communication.

HIRE A PROFESSIONAL RECEPTIONIST

You should appoint a competent receptionist to welcome the guests. He/she is the first person with whom the client has face to face interaction after entering your office. Hence, the receptionist should be soft spoken and well mannered. He/she should be an excellent communicator and be able to handle all the tasks carried on at the reception area. These tasks include maintaining visitors’ list, scheduling appointments, receiving calls/emails and responding to them, prioritizing the tasks, etc.

Without question, the reception desk needs to be properly designed to help the receptionist perform all the activities comfortably. The reception desk should have ample space for storage to work. Designing a space with a reception area can be tricky, if you would like advice or input, be sure to think of the perfect balance between new and preowned office furniture.

FOR MORE INFORMATION CONTACT:


Josh Smargiassi: Principal
Boomerang, Inc.
P 856.582.0100
F 856.582.0104
www.boomerangofficefurniture.com

 

Share

Banks Again Increase Pace of Construction Lending, Raising Regulatory Concerns

The construction and development (C&D) lending category for U.S. banks was once again the most rapidly growing loan category in 2016 for the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – following a year of outsized lending growth in 2015. C&D lending by banks surged almost 14% in 2016, topping 13% growth in 2015.

This compares with total loan growth in the U.S. and Philadelphia commercial real estate markets of just 5% in each of the two years prior to that, according to data from a leading bond rating agency.

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

C&D lending among banks involved in U.S. and Philadelphia commercial real estate properties remained strong despite a slowdown in many other categories, particularly in the second half of the year. Growth slowed considerably for many other lending categories, notably residential mortgages, auto and commercial and industrial (C&I).

After posting the largest percentage lending upsurge in this category during 2016 of 58%, overseas banks with US branches dealing with both national and Philadelphia commercial real estate listings appear to be backing off making loans in this category this year, decreasing their holdings in this category in 2017 to pre-2016 levels.

Banks doing business in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – posted a 12% lending increase, with that growth unevenly split between large and small banks – 8% growth in C&D lending vs. 15% growth respectively.

Given considerable competition and pricing pressures in most loan categories in relation to U.S. and Philadelphia commercial real estate listings, bankers may be tempted to ramp up their C&D lending, a comparatively higher margin, but also higher risk loan product, the bond rating agency data show.

However, banks still appear to be mindful of the painful lessons from the recent past. Even with the surge in lending over the past two years, C&D exposure for the bank industry remains below pre-2008 financial crisis levels, KBRA added. For all banks, C&D loans represented 3.4% of total loans as of year-end 2016 compared with a peak level of 8.4% as of year-end 2007.

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), Christopher R. Henderson (chris.henderson@wolfcre.com), Tony Banks (tony.banks@wolfcre.com) or Drew Maristch (drew.maristch@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 is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, 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.

Share

Prevent Flooring Moisture Issues in Commercial Buildings

flooring-moistureFlooring moisture usually comes from a concrete base. Concrete slabs are the most common flooring base used in a range of buildings. Unfortunately, excessive moisture found in concrete slabs prior to a flooring installation can cause significant floor covering system failures such as:

• debonding of coatings
• microbial growth
• flooring expansion
• high pH attack on floor finishes
• release of adhesives

Download Full Printable Article PDF>>>

There are, however, several steps that can be taken to mitigate and potentially prevent flooring moisture issues before a floor covering is installed. These steps can be taken for either new or remodel projects.

The first step is to conduct flooring moisture testing. Substrate surfaces must be tested for moisture emission prior to starting the installation. Most manufacturers and flooring installation contractors recommend Relative Humidity probe moisture testing, as the results of this type of test are typically more accurate, reliable and consistent than other testing methods.

If flooring moisture emission is discovered, then proper precautions, such as the use of several topical applications prior to the flooring installation, can be used for moisture mitigation. Some of these topical applications include using reactive penetrants and moisture retarding coatings.

Finally, consider selecting a floor covering that has a higher tolerance for flooring moisture and can perform in concrete slabs with elevated relative humidity levels. Some flooring options, such as a textile composite flooring with pre-applied adhesive backing, perform in areas with elevated moisture. The breathable nature of these flooring products allows moisture to pass through the backing rather than trap it underneath. This method of vapor transmission enables the flooring to be installed with no moisture mitigation.

Taking these steps prior to installation can save money and mitigate potential flooring system failures.

About J+J Flooring Group:
For 60 years J+J Flooring Group has crafted intelligent and beautiful commercial flooring products for diverse
applications. As a division of Engineered Floors, LLC, we have proudly grown to be the third largest carpet company in North America. We engineer all of our flooring solutions with a steadfast commitment to design, quality, service, integrity and sustainability.

J+J Solutions for High Moisture Concrete:
J+J Flooring Group offers Kinetex – an advanced textile composite flooring that combines key attributes of softsurface floor covering with the long-wearing performance characteristics of hard-surface flooring. Kinetex textile composite flooring will perform in elevated RH slabs up to 99% when using PreFix pre-applied backing. The breathable nature of this product allows moisture to pass through the backing rather than trap it underneath. This method of vapor transmission allows Kinetex to be installed without costly moisture mitigation as long as the Relative Humidity Test reads 99% or below.

For more information on flooring moisture solutions for high moisture concrete slabs contact:


Tina Vilic, Sales Representative

o: (800) 241-4586 x7811
m: (215) 444-6421
tina.vilic@jjflooringgroup.com
www.jjflooringgroup.com

Share

CRE Execs Balance Tax Reform Optimism with Interest Rate Concern

With a commercial real estate executive now in the White House, 69 percent of the CRE executives responding to a recent survey said they expect President Trump will have an overall positive impact on the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – in 2017.

Rising interest rates continue to dominate concerns for executives in the U.S. and Philadelphia commercial real estate markets in 2017. Almost all survey respondents (98 percent) expect at least one interest rate increase this year, and 77 percent expect multiple rate increases in 2017.

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

An overwhelming majority (83 percent) of respondents to the survey by the Seyfarth Shaw law firm said they are not concerned an act of domestic terrorism will impact their projects involving U.S. and Philadelphia commercial real estate properties in 2017, compared to 70 percent last year.

In addition, CRE execs polled by the law firm believe “deregulation” and “tax reform” may provide immediate and positive impacts for the industry in 2017. Notably, many survey respondents singled out the new administration’s position on dismantling much of the regulatory infrastructure enacted under the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act as potentially spurring a new investment boon involving both national and Philadelphia commercial real estate listings.

But along with increased optimism industry execs also are reporting increased investment risk in the CRE market.

The unusual combination of optimistic outlook with wariness over interest rates and other expected changes in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – appears to stem from concerns about rolling back lending safeguards, but also from uncertainty about which of the proposed changes will be enacted and when they’ll go into effect.

In one example of how this greater sense of risk appears to be playing out in relation to U.S. and Philadelphia commercial real estate listings can be seen in recent 10-K and Annual Report filings by REITs and real estate operating companies. Reporting companies are increasingly updating the “Risk Factors” sections of those reports to reflect the numerous possible policy changes and positions associated with the new Trump administration.

President Trump’s name has shown up in the Risk Factors’ section in 40 of 194 real estate-related 10-Ks filed this year through the end of February, a 21% rate, said a CoStar News analysis. By comparison, President Obama’s name showed up in just nine out of 378 real estate related 10-Ks in the first three months of 2009, his first months in office, a 2% rate.

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), Christopher R. Henderson (chris.henderson@wolfcre.com), Tony Banks (tony.banks@wolfcre.com) or Drew Maristch (drew.maristch@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 is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, 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.

Share

Share

Share