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.
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