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Regional Commercial Real Estate Trends


Office Space Near Philadelphia Independence Hall in Great Demand

Could there be signs the Philadelphia Independence Hall office market is heating up? Throughout 2015 and 2017 Independence Hall was an outlier with noticeably higher vacancies than other submarkets in and around Philadelphia’s central business district (CBD) such as Market Street West and University City. These higher vacancies were caused by move outs by both […]

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Landlords Could Seize Opportunity If Papa John’s Shuts Stores

It’s not often that commercial real estate landlords want to lose tenants, but that may be the case with the criticized pizza chain Papa John’s as it faces the prospect of closing 250 restaurants across the country. Landlords throughout the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly […]

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Commercial Real Estate Mortgage Debt Surges to New Record

Mortgage debt underlying offices, apartments, and other non-farm commercial real estate rose the most in any quarter on record to a new high of $3.27 trillion in the second quarter of 2018 as all major investor groups increased their holdings amid strong economic growth. The $52.3 billion growth in debt on office, multifamily, retail, industrial […]

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New Jersey Bill Aims to Help Vacant Malls, Office Parks

New Jersey Bill Aims to Help Vacant Malls, Office Parks

New Jersey lawmakers are making a new legislative push to help rid the state of its vacant and half-empty malls and office complexes, properties that have fallen victim both to e-commerce and a new preference in corporate America for urban settings. Under a bill that recently came out of committee in the state Legislature, “buildings […]

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Big Retailers Shrink Stores to Boost Sales

Plans by fast-food chain Taco Bell to open 300 new small-format restaurants across the country in the next four years are the latest being undertaken by a slew of major national brands experimenting with smaller stores to cut real estate costs and cater to urban millennials. Taco Bell, Nike, Target, and Nordstrom are just a […]

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How to Fill Empty Mall Space? Incubate Your Own Tenants

Mall operators are taking a page from the playbook of their office counterparts and setting up retail incubators in some of the space left vacant by departed department and apparel store retailers. Offering retail and technology startups a shared space to test their concepts before actual shoppers, the new retail incubators working in the U.S. […]

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Commercial Construction Spending Headed to Record High

Spending on hotel, office, distribution, and other commercial and public buildings likely will expand for an unprecedented ninth-consecutive year in 2019, according to a consensus forecast by the country’s top industry economists. The panel of experts from construction industry analytics company Dodge Data & Analytics, trade organization Associated Builders & Contractors, and others recently surveyed […]

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Industrial Real Estate Sales Lead All Property Sectors

Industrial property sales outperformed other major commercial sectors across the country in the second quarter, driven by the popularity of online retailer Amazon and the migration of brick and mortar retailers to consumer-driven, e-commerce strategies. While sales in all four sectors of the national and Philadelphia commercial real estate market — office, industrial, retail and […]

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Commercial Construction Surges as Demand Counters Higher Labor, Materials Costs

Robust commercial construction is projected to carry through the second half of 2018 and into next year, overcoming a shortage of skilled workers and any effects of tariffs on the cost of lumber, steel, and other building materials. Total spending on new construction and engineering in the U.S. commercial real estate market – including Philly […]

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Zeroing in on Center City Philadelphia’s Tightest Office Micro Markets

Market Street West – the portion of Market Street running from City Hall to 21st Street – is seen by most Philadelphia office space brokers and investors as Center City’s premier office district, and with good reason. Public transit access is exceptional along that corridor, which is home to more than 12 million square feet […]

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Bala Cynwyd Office Market Appears to be on the Rebound

Bala Cynwyd’s office market, while not currently experiencing five percent rent growth, currently is experiencing its highest occupancy rate in 15 years – 92 percent – and has seen gradual tightening annually since 2010. Coming out of the Great Recession, Bala Cynwyd struggled to compete for office tenants in the U.S. commercial real estate market […]

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Banks Ease Lending Standards for CRE Loans

For the first time in nearly three years, U.S. banks report they have loosened their lending requirements for some types of commercial real estate loans. The latest Federal Reserve survey of senior loan officers in the U.S. commercial real estate market – including Philly office space, Philly retail space and Philly industrial space – found […]

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