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Tag Archives: Wolf Commercial Real Estate


Tips For Those Who Pay Or Should Pay Estimated Taxes

Depending on what you do for a living and what your spouse may be earning, you may have income that is not subject to withholding. It’s possible that you may need to pay estimated taxes.

We’re halfway through 2022. What’s worse than finding out you are shocked by the tax owed on your 2022 personal income tax return? How about learning that you may have to ALSO pay next years income taxes starting the same time?

You may need to pay estimated taxes to the IRS and one or more states during the year if you have income that is not subject to withholding. This can depend on what you do for a living, what your spouse may be earning when you file jointly and the types of income you receive.

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Tips For those who pay or should pay estimated taxes

11 Points to Consider Regarding Estimated Taxes

Here are eleven points we at Abo and Company would at lease like you to consider regarding your estimated taxes if you need to pay them and how to pay them.

  1. If you have income from sources such as self-employment, interest, dividends, alimony, rent, gains from the sales of assets, prizes or awards, then you may have to pay estimated tax. You also may have to pay estimated tax if the amount of income tax being withheld from your salary, pension or other income is not enough. Estimated tax is used to pay income tax and self employment tax, as well as other taxes and amounts reported on your tax return.
  2. As a general rule, you must pay federal estimated taxes if both of these statements apply: 1) You expect to owe at least $1,000 in tax after subtracting your tax withholding (if you have any) and tax credits, and 2) You expect your withholding and credits to be less than the smaller of 90 percent of your 2022 taxes or 100 percent of the tax on your 2021 return. If your 2021 Adjusted Gross Income was more than $150,000 ($75,000 if Married Filing Separately) substitute 110% for the 100% requirement. Your 2021 tax return must cover all 12 months.
  3. For Sole Proprietors, Partners and S Corporation shareholders, you generally should make estimated tax payments if you expect to owe $1,000 or more in tax when you file your return.
  4. If you also receive salaries and wages, you may be able to avoid having to make estimated tax payments on your other income by asking your employer to take more tax out of your earnings. To do this, file a new Form W-4, Employee’s Withholding Allowance Certificate, with your employer. Generally, if you receive a pension, annuity or certain other deferred compensation payments you can use Form W-4P, Withholding Certificate for Pension or Annuity Payments, to start or change your
    withholding from these payments. You also can choose to have federal income tax withheld from certain government payments using Form W-4V, Voluntary Withholding Request (i.e. unemployment compensation, social security benefits, etc.
  5. To figure your estimated tax, include your expected gross income, taxable income, taxes, deductions and credits for the year. You can use the worksheet in Form 1040-ES, Estimated Tax for Individuals, for this. You want to be as accurate as possible to avoid penalties. Also, consider
    changes in your situation and recent tax law changes. Many a client will have Abo and Company prepare tax projections for them and even have them updated as the year progresses. Your call.
  6. The year is divided into four payment periods, or due dates, for estimated tax purposes. Those
    dates for this coming year are April 18, 2022; June 15, 2022; Sept. 15, 2022 and Jan. 17, 2023.
    As you can see, estimated tax payments are made in four quarterly installments and can be based on a regular tax method or an annualized income installment method.
  7. You can make more than four estimated tax payments. To do so, make a copy of one of your unused estimated tax payment vouchers, fill it in, and mail it with your payment. If you make more than four payments, to avoid a penalty, make sure the total of the amounts you pay during a payment period is at least as much as the amount required to be paid by the due date for that period.
  8. The disadvantage to utilizing the annualized method as opposed to the regular method is that the calculation of your estimated tax payments may be more complex and time consuming. Additionally, your estimated tax payments must be recalculated at the end of every quarter. If you make an estimated tax payment using the annualized income method for a quarter, you may change to the regular method for a subsequent quarter but you must recapture the difference between the annualized income installments and the regular installments by adding the amount of the differential for all previous periods to the regular installment for the next payment period. For example, if you estimated a tax of $1,000 under the regular method, $250 would be due each quarter. If you used the annualized method for the first quarter and paid $100, and then shifted to the regular method for the second quarter, the second quarter installment due would be $400 ($250 for the second quarter plus $150 unpaid for the first quarter).
  9. An underpayment penalty is imposed on each underpayment for the number of days it remains unpaid. A penalty may be applied if you did not pay enough estimated tax for the year or you did not make the payments on time or in the required amount. A penalty may even apply if you have an overpayment on your tax return. Interest/penalty rates as of this writing is at 3% per annum. Not necessarily the worst.
  10. If you extended your 2021 return considering the original due date of April 18, 2022 has passed, if you only have so much in funds available to pay the balance of your 2021 tax liabilities as well as 2022 estimated tax payments, our vote is generally to pay the 2021 amounts due IRS and/or the states.
  11. Estimated taxes should be calculated for all states for which you will be filing individual resident or nonresident tax returns. For purposes of calculating estimates for most states, either the regular installment or annualized income installment method may be used.

Many of Abo and Company clients typically call asking why we include 2022 estimated tax vouchers with their 2021 tax returns. When there is a material balance due on their federal or state 2021 return, we may often produce such safe-harbor estimates if we are unsure if the client will be having similar balances due this time next year. After discussing with us, clients often consider increasing their withholdings to so avoid the need for paying such estimates. Again, your personal call.

Martin H. Abo, CPA/ABV/CVA/CFF is the principle of Abo and Company, LLC and affiliate, Abo Cipolla Financial Forensics, LLC, Certified Public Accountants – Litigation and Public Accountants. With offices located in Mount Laurel, New Jersey and Morrisville, Pennsylvania, tips like the above can also be accessed

For more information, contact:

Abo - Estimated TaxesMartin H. Abo, CPA/ABV/CVA/CFF
307 Fellowship Road, Suite 202
Mt. Laurel, NJ 08054
(856) 222-4723 ext. 104
marty@aboandcompany.com
www.aboandcompany.com

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What is a Commercial Relocation Concierge?

commercial relocation concierge

What is a commercial relocation concierge, and do they really add value to your project? Let’s get one thing out of the way right up front: a commercial relocation concierge is not some made-up job description. A commercial relocation concierge is an expert that you partner with when you are considering moving or expanding your office. They are the ones who crunch the numbers, draw up the timeline, coordinate all the subcontractors, and develop the move plan. They’ll be the one qualified to answer the question, “What’s the most cost effective way to transition to a new space?”.

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A top-notch commercial relocation concierge has the connections for everything — space planners, IT/data center relocation, phone and furniture procurement, contractors, rigging services, and so much more. They know the right vendor for every job, and the right price that should be charged. Any client that thinks they can vet the vendors and negotiate a better price as their own general contractor might better think twice. Just the risk management liability alone is enough to make you scramble to find a relocation concierge ASAP.

And here’s the best part: including a Relocation Concierge on a project benefits the landlord by protecting the integrity of the real estate, and benefits the tenant by protecting their security deposit. It’s a win-win for everyone!

So what responsibilities can a commercial relocation concierge take off your plate?

• Relocation plan & objectives
• Goals & budgeting
• Timelines
• Space evaluation & planning
• Asset inventory/furniture analysis
• Furniture Liquidation & Procurement
• Transportation & Logistics
• Contents move plan and asset liquidation
• IT/Data center migration
• Phone system/cabling
• Facility Decommissioning

So what is the takeaway from all of this? Simply that companies that focus all their time and effort on the “hard costs” of relocation or expansion will be blindsided by the much more important “soft costs” of a transition. There are the obvious hard costs associated with any move — packing, moving, etc. But then there are the less tangible soft costs you need to consider — lost productivity, efficiencies of timing/scheduling, IT testing, risk management, etc. A commercial relocation concierge minimizes your company’s exposure to lost revenue by reducing the distraction to your core business and curtailing down time. You’re an expert at what you do, so why not let a commercial relocation concierge handle all the logistic details for you!


About Argosy Management Group, LLC:

Argosy Management Group (AMG) is a leader in office relocation and logistics project/move management. AMG services companies throughout the U.S. and worldwide. AMG delivers a wide range of comprehensive services: move management and transition planning, space planning and furniture needs, office and industrial relocation and liquidation, storage solutions and asset management, furniture disassembly and installation, and I.T./data center relocation. AMG also offers disinfection services for your office space to combat COVID-19 and other viruses. For more information, contact: Shawn O’Neil at 609-744-4112 or visit www.argosymg.com.

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Costs to develop, lease industrial keep soaring as demand for warehouses remains historically high

It’s now more expensive than ever to source, build and rent warehouse space — but that hasn’t tempered demand.

The market has reached a point where industrial landlords are sometimes delaying signing prelease deals on speculative warehouses to ensure they’re getting the best, most up-to-date rental rate for the space possible. Other developers are putting more aggressive rent escalation clauses in new leases.

Steve Kros, Southeast regional partner at Houston-based Transwestern Development Co. LLC’s logistics group, said the hard cost to build an industrial shell — not including site work — has increased 50% in the past 18 months. What used to cost $38 per square foot to build in early 2021 now costs $45 to $50 per square foot.

“That is a cost that we are passing on to the tenant in the form of higher rent,” Kros said. “Unprecedented rental rate growth in all of our markets is so, far, keeping the machine going.”

Most tenants are willing to absorb the higher costs, he said. For a typical logistics center, the biggest cost those companies have to bear is transportation, followed by labor. Real estate is generally only about 10% of those tenants’ total costs, Kros added.

*Article courtesy of Philadelphia Business Journal

For more information about New Jersey or Philadelphia health care space, industrial space, retail space, office space, land or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis, healthcare space, office space, retail space, land and New Jersey and Philadelphia industrial space.

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

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

As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  

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

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Why Companies Aren’t Cutting Back on Office Space

In our monthly surveys of 5,000 American workers and 500 U.S. employers, and in our numerous conversations with managers, a huge shift to hybrid work is abundantly clear for office and knowledge workers. An emerging norm is three days a week in the office and two at home, cutting days onsite by 30% or more.

You might think this cutback would bring a huge drop in the demand for office space. But our survey data suggests cuts in office space of 1% to 2% on average, implying big reductions in density not space. We see three reasons for this.

First, high density at the office is uncomfortable. Many workers dislike crowds around their desks, much more so now that infection risks are top of mind. Discomfort with density extends to lobbies, kitchens, canteens, and especially elevators. The only sure-fire way to reduce density is to cut person days on site [cut “person”?] without cutting square footage as much. Discomfort with density is here to stay according to our survey evidence.

*Article courtesy of HBR

For more information about New Jersey or Philadelphia health care space, industrial space, retail space, office space, land or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis, healthcare space, office space, retail space, land and New Jersey and Philadelphia industrial space.

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

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

As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  

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

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Commercial Real-Estate Sales and Values Surge to Records

Investors purchased a record amount of commercial real estate in the third quarter, defying warnings that the Covid-19 pandemic would erode these property values and starve the industry of cash.

Instead, purchases of apartment buildings, life-science labs and industrial properties, which serve as e-commerce distribution centers, rocketed commercial sales to more than $193 billion in the quarter. That is up 19% compared with the same three months in 2019, before the pandemic, and the biggest quarter for commercial property…

*Article courtesy of Wall Street Journal

For more information about New Jersey or Philadelphia health care space, industrial space, retail space, office space, land or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis, healthcare space, office space, retail space, land and New Jersey and Philadelphia industrial space.

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

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

As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  

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

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Resilient Consumers Keep Spending

Rising COVID cases stemming from the virulent delta variant have driven governments and businesses to reimpose social distancing measures and delay return-to-office policies, putting a damper on some economic activity. But consumers continue to power through the end of the summer.

Retail and food services sales unexpectedly grew by 0.7% in August, following a downwardly revised 1.8% fall in July. The month-over-month changes to the headline figure this year have alternated between positive and negative, but at 15.1% year-over-year growth, and at an 9.3% annualized growth since August 2019, it’s evident that retail and food services sales remain elevated, even as COVID cases rise sharply in many parts of the nation.

Clothing sales remained high in August, the prime month for back-to-school shopping. Children and teens outgrew their clothing over the pandemic, and many workers being called back to the office are updating their wardrobes — although athleisure is still experiencing strong gains in sales. Clothing retailers overall are seeing sales at an annualized 7.5% higher than in August 2019.

However, capacity limits and closures deeply affected sales at restaurants and bars, which were flat in August after five consecutive months of growth. The year-over-year increase of 31.9% serves as a reminder of the depth of last year’s pullback when many restrictions were in place. Food services and drinking establishment sales are up an annualized 5.1% since August 2019. Despite these gains, the sector largely underperformed analyst expectations during the summer, as pent-up demand for dining out and travel was thwarted by the ongoing pandemic.

In contrast, sales from nonstore retailers grew by 5.3% in August — leading all major sectors, much like they did regularly in pre-pandemic times. Compared to two years ago, nonstore retailer sales have grown by an annualized 18%, also leading all major sectors.

*Article Courtesy of Costar

For more information about New Jersey or Philadelphia health care space, industrial space, retail space, office space, land or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis, healthcare space, office space, retail space, land and New Jersey and Philadelphia industrial space.

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

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

As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  

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

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Many employees want to work remotely forever. Some business owners will fire those who try.

Many small business owners want their employees to return to the office full-time as the pandemic wanes — and 39% said they would fire workers who refuse.

That is from a July 6 survey of 1,500 small business owners by Digital.com, which shows the potential disconnect between employers and employees over what the future of the workplace should look like as many workers hold out for remote jobs and other expect work-from-home flexibility as part of the job search.

During the pandemic, about 30% of business owners said their employees worked remotely, while another 36% worked some combination of onsite and remote. But once the pandemic is over, only 10% plan to continue remote work, while about 37% plan on either a hybrid office or allowing employees to choose to work in the office or remotely and 39% expect employees to return to the office full time.

But that resistance to some kind of remote work offering may hurt businesses in the future, said Digital’s small business expert, Dennis Consorte, in a blog post.

“COVID-19 lockdowns didn’t create the move towards a remote workforce — it just accelerated the inevitable,” Consorte said. “Companies that focus on physical location and hours worked will be behind the curve. They should focus instead on the value produced by their extended teams. Otherwise, their most valued employees may seek out remote opportunities elsewhere.”

While 39% of business owners said they would fire employees who refused to return to work full time, about 39% said they would not, while the remainder said they were not sure. But about 47% of business owners who say they will fire employees for not returning are in white-collar industries such as computer and information technology, business, finance and advertising and marketing. 

*Article Courtesy of Philadelphia Business Journal 

For more information about New Jersey or Philadelphia cannabis health care space, New Jersey or Philadelphia industrial space, New Jersey or Philadelphia retail space, and New Jersey or Philadelphia office space or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis healthcare space, New Jersey and Philadelphia office space, New Jersey and Philadelphia retail space, and New Jersey and Philadelphia industrial space.

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

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

As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for New Jersey or Philadelphia office space, Philadelphia or New Jersey retail space, or New Jersey or Philadelphia industrial space for sale or lease, Wolf Commercial Real Estate is the New Jersey and 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, Philadelphia, and New Jersey commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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Cannabis Sales Go Suburban as Large, Open Air Shopping Centers Become Fertile Retail Ground

A Grupo Flor store that just opened in Union City, California, is billed as the nation’s first cannabis business in a type of regional, open-air shopping center that’s normally home to big-box retailers and chain restaurants.

The move shows how commercial real estate is changing as cannabis retailing goes mainstream with more states legalizing recreational marijuana sales. Retail landlords are also seeking out different types of tenants to fill spots vacated by national store chains losing sales to online shopping.

With 18 states now allowing legal retail sales of marijuana for recreational use, cannabis companies are actively seeking out real estate for sales and distribution, moving from cities to suburbs.

“Cannabis is emerging out of being taboo for many people, so we really strive to bring that hospitality ethic that is welcoming for people of all walks of life,” said Mike Bitar, Grupo Flor co-founder and vice president of retail.

After navigating a still-complex regulatory process, Salinas, California-based Grupo Flor said this week it opened the 2,500-square-foot store in a space vacated by Sprint at Union Landing, a million-square-foot regional shopping center in the East Bay community of Union City near Oakland where a large number of tenants are big-box retailers.

This is Grupo Flor’s fifth California store and its second to open this year, and company executives liken the new location’s design to a “high-end designer fashion boutique.”

In most cities where cannabis sales have been legalized, even the largest retailers, such as Los Angeles-based MedMen, have opened stores mainly in older neighborhood shopping centers and strip malls or other spaces in established urban hubs. Now that’s changing, analysts said.

“Given the confluence of less demand from traditional retailers, greater demand from cannabis retailers and less stigma from local communities, it is likely we will see cannabis retailers continue to expand into more retail settings,” said Brandon Svec, director of market analytics for CoStar Group in Chicago.

Open Air Pioneer

Representatives of Grupo Flor and its Union City landlord, developer The Austin Group, said there are some U.S. examples of cannabis retailers setting up shop in enclosed malls, but their research indicates this is the first to open in what’s known as a power center, defined in the industry as a regional shopping center, usually open-air, where at least three tenants are considered big-box retailers.

More owners of power centers and other suburban retail properties could become interested in cannabis retailers as that industry matures, and as retail centers look to rebound from the pandemic. Svec said that could especially apply to shopping center operators in secondary retail corridors or in areas with declining buying power where the prospect of backfilling vacant space with traditional retail tenants is minimal.

Svec noted that the power center segment has been significantly affected by store closings and reorientation of property toward smaller, more efficient spaces. CoStar data shows that power centers have been the second-worst performing segment nationally, after enclosed malls, losing about 4 million square feet of demand since the onset of the pandemic in March 2020, as the power center vacancy rate rose 70 basis points to 6%.

“However, footprint size will still be important and while cannabis retailers may have the sales revenue to operate out of larger boxes from a sales-per-square-foot perspective, the practical sales advantage of doing so will likely be limited beyond a certain size,” he added. “Thus, they are not a probable tenant for larger vacant boxes — 10,000 square feet and higher — in most markets and their overall potential impact on the market will likely be limited.”

Because they are real estate-intensive, sometimes designed to house up to a dozen tenants that each take more than 25,000 square feet, power centers tend to be developed in suburban rather than urban settings.

The growth of legal cannabis sales, combined with the continued downsizing in the retail industry that began well before the pandemic, could provide more places for cannabis retailers to set up shop in suburban locations.

“We received eight offers from leading cannabis retail operators, but Grupo Flor was a clear choice after visiting competitor stores,” Bill Schrader, owner of The Austin Group, said in a statement. “We expect Flor to drive a lot of fresh shopping traffic into Union Landing — it’s a win-win from a property development standpoint.”

Cannabis Sales Jump

According to cannabis industry research firm BDSA, legal U.S. cannabis sales topped $17.5 billion in 2020, an increase of 46% over 2019. The biggest dollar gains in sales were seen in Illinois, California, Florida, Colorado and Oklahoma.

Global sales of legal cannabis reached $21.3 billion in 2020, up 48% from the prior year, and BDSA projects global sales will reach $55.9 billion in 2026. Much of the U.S. demand is expected to come from the continued addition of new states legalizing cannabis sales.

Five states did so in the 2020 elections — Arizona, Mississippi, New Jersey, Montana and South Dakota — and were joined in March by New York, bringing the total to 18 states with some form of retail legalization.

To meet demand, Oakland-based cannabis distributor Nabis said this month it was tripling its logistics capabilities with a new, large fulfillment center in Los Angeles. In New York and New Jersey, real estate consultants are now busy finding sales and distribution sites for clients.

U.S. retailers during 2020 announced that a record 162 million square feet was set to be vacated, according to CoStar data, representing 12,000 store locations. The pace of retail space pullbacks has slowed so far in 2021 but still totaled 23 million square feet at 2,200 locations in the first quarter.

Big closings were announced during the past year by chains including Fry’s Electronics, Burlington Coat Factory and J.C. Penney. Closings have been countered in part by rising space demand among retailers such as dollar stores, specialty grocers, home improvement shops and sporting goods stores.

“On one hand, the sector faces formidable headwinds from pandemic-induced capacity restraints and secular e-commerce shifts,” said Abby Corbett, managing director and senior economist in CoStar’s Chicago office, in an April webinar. “Yet, on the other, the sector exhibits signs of resilience and evolution.”

*Article Courtesy of CoStar

For more information about New Jersey or Philadelphia cannabis health care space, New Jersey or Philadelphia industrial space, New Jersey or Philadelphia retail space, and New Jersey or Philadelphia office space or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis healthcare space, New Jersey and Philadelphia office space, New Jersey and Philadelphia retail space, and New Jersey and Philadelphia industrial space.

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

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

As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for New Jersey or Philadelphia office space, Philadelphia or New Jersey retail space, or New Jersey or Philadelphia industrial space for sale or lease, Wolf Commercial Real Estate is the New Jersey and 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, Philadelphia, and New Jersey commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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The Future of Office Work has Arrived

Effective 6 AM on June 4, 2021, employers had the green light to require their employees to return to the office. Gov. Phil Murphy’s Executive Order No. 243 rescinds the requirement that businesses and nonprofits must accommodate telework arrangements to the maximum extent practicable, and reduce on-site staff to the minimum needed for operations. The order also states that employers no longer need to require masks and social distancing in the workplace for those fully vaccinated.

The speed of the economic recovery has been stunning, as vaccinations and stimulus funds are driving consumer spending. The U.S. economy is expected to recover to pre-pandemic levels later this month. “Key sections of our region’s economy, however, are still reliant on the tourism and travel industries that may continue to be hobbled by slower vaccinations and travel restrictions abroad,” according to Duncan Kisia, a leading economist with Port Authority of New York & New Jersey, who spoke at a recent NAIOP New Jersey forum.

This economic rebound is fueling job growth in office-using sectors, although tenant safety concerns remain a drag on office leasing. According to NAIOP’s Q2 2021 Office Space Demand Forecast, negative net absorption will moderate over the next two quarters, with a return to positive absorption in the fourth quarter of 2021. National office space absorption is expected to stabilize by mid-2022, with quarterly figures expected to average 11.7 million square feet, in line with the 2015 to 2019 quarterly average of 11.6 million square feet. Most K-12 schools plan to resume full in-person instruction in the fall, and that should contribute to a more widespread return to the office. This trend will only strengthen if Congress passes a significant infrastructure package, which is likely.

Although tenants have begun to return to offices, it remains to be seen how widely employers will adopt long-term remote work policies. Surveys showed remote work was successful for many firms, and it is clear that many will partially incorporate this model into future plans. Remote work will likely limit net absorption for the next several quarters. Due to population and pricing shifts, experts expect suburban office space to be in relatively greater demand than central business district space in the near term. Tenant comfort may lead to less dense office layouts than before the pandemic, partially offsetting declines in demand due to remote work.

The NAIOP Forecast assumes a continued rebound in real GDP for the remainder of 2021, 2022 and 2023. Real GDP is expected to expand by 7.7 percent in the next two years, with average unemployment of approximately 4.5 percent. The forecast also assumes that Personal Consumption Expenditure (PCE) inflation will average 2 percent in the next two years. It generally takes several quarters for office net absorption rates to recover from the effects of an economic recession. Under three different scenarios, the office market would return to normal net absorption by the second half of 2022. The baseline forecast assumes that the recent recession will lead to a 15 percent reduction in net absorption (factoring in remote work arrangements), which is in line with what I am hearing.

“Employers planning for a transition to a post-pandemic workplace are faced with a host of novel issues — and addressing a disconnect with employees about what the future of work and the return to physical workspaces looks like it is at the top of the list,” according to The Littler Annual Employer Survey Report released last month. While 71 percent of employers surveyed believe that most of their employees who can work remotely prefer a hybrid model and only 4 percent prefer full-time in-person work, 28 percent of those employers plan to have most employees return full time and in person, and 55 percent will offer a hybrid model.

Questions about returning to the physical workplace and vaccinations are only part of the conundrum facing employers. COVID-19 accelerated the trend of technology displacing employees, and more workers than ever are suffering from “crisis fatigue” and burnout. Couple these ongoing pandemic-related workforce management issues with anticipated federal regulatory changes, and the challenges ahead are daunting. On the regulatory front, most employers (81 percent) are concerned about how changes to paid sick and family leave requirements — a promised Biden administration initiative — will impact business in the next year. Other top concerns: income equality measures (64 percent); inclusion, equity and diversity considerations (55 percent); and health care (51 percent). With more Washington gridlock expected, state and local regulations are high on executives’ radar, with 83 percent expressing moderate or significant concern over associated enforcement and compliance expectations.

More than half of respondents are either moderately or extremely concerned about maintaining company culture, collaboration and employee loyalty in a remote work environment (57 percent) and the impact of the pandemic on employee mental health and well-being (52 percent). Employers are making strides to address these issues (e.g., 84 percent are offering mental health services and/or Employee Assistance Programs) but some may have room for improvement in areas such as implementing new ways to reward employees for their hard work, and training managers to help respond to employees in need.

Now that the future has arrived, I am sure that all employers would agree that employees are the most critical resource for success. Striking the right balance for the new workplace will likely be case-sensitive, and will no doubt take some time and a great deal of patience.

*Article Courtesy of RE-NJ.com

For more information about New Jersey or Philadelphia cannabis health care space, New Jersey or Philadelphia industrial space, New Jersey or Philadelphia retail space, and New Jersey or Philadelphia office space or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis healthcare space, New Jersey and Philadelphia office space, New Jersey and Philadelphia retail space, and New Jersey and Philadelphia industrial space.

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

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

As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for New Jersey or Philadelphia office space, Philadelphia or New Jersey retail space, or New Jersey or Philadelphia industrial space for sale or lease, Wolf Commercial Real Estate is the New Jersey and 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, Philadelphia, and New Jersey commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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Residential Developers Get Go-Ahead To Apply for New Jersey Tax Incentives

After a two-year halt, residential real estate developers in New Jersey can now apply for state tax incentives from $50 million set aside as part of legislation Gov. Phil Murphy signed earlier this year. 

The New Jersey Economic Development Authority, based in Trenton, on Tuesday said it was looking for applicants for the residential component of the Economic Redevelopment and Growth, or ERG, program. That program, originally created to address project-financing gaps in development projects, had stopped accepting new applications in June 2019 because its enabling legislation ended.

The EDA and the state’s tax incentive programs at that time had come under criticism and were the subject of several probes, and the governor refused to extend the ERG legislation amid the controversy.

In March, the EDA officially announced it was reopening the ERG program as a result of the $50 million designated for it in the state’s Economic Recovery Act of 2020. That was a few months after Murphy signed the sweeping act, which set forth an overall $14.5 billion package of tax incentive programs. 

Under the legislation, residential projects can receive tax credits of up to 30% of total eligible project costs. And projects in Atlantic City, Camden, Paterson, Passaic and Trenton can receive tax credits of up to 40% of eligible project costs. 

Those ERG tax credits aren’t meant to be a substitute for conventional debt and equity financing, and applicants should have their primary debt financing in place before applying, according to the EDA.

“Thanks to the foresight of Gov. Murphy and the Legislature in reopening the ERG program, essential housing projects throughout New Jersey that have been on hold will be able to move forward while the new programs created by the Economic Recovery Act are under development,” Tim Sullivan, the EDA’s CEO, said in a statement. 

“This will not only provide much-needed new housing in our state, but it will also drive economic growth by creating construction jobs and attracting more workers to New Jersey,” Sullivan said. “This is always important, but it is especially crucial now as we begin recovering from the economic impacts of COVID-19.”

*Article Courtesy of CoStar

For more information about New Jersey or Philadelphia cannabis health care space, New Jersey or Philadelphia industrial space, New Jersey or Philadelphia retail space, and New Jersey or Philadelphia office space or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis healthcare space, New Jersey and Philadelphia office space, New Jersey and Philadelphia retail space, and New Jersey and Philadelphia industrial space.

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

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

As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for New Jersey or Philadelphia office space, Philadelphia or New Jersey retail space, or New Jersey or Philadelphia industrial space for sale or lease, Wolf Commercial Real Estate is the New Jersey and 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, Philadelphia, and New Jersey commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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Sheetz Becomes First Convenience Store Chain to Accept Cryptocurrency

Sheetz, the Pennsylvania-based convenience store chain, has announced it will enable digital currency payments to provide customers with the ability to pay for items inside the store and at the pump. 

Sheetz will begin accepting digital currencies at select Sheetz Cafe stores later this summer with a planned rollout later in the year for acceptance at Sheetz’s fuel pumps as well. 

Sheetz has locations across Pennsylvania, including stores in Morgantown and Reading. The chain also has locations in Maryland, Virginia, West Virginia, Ohio, and North Carolina.

Digital currency payments will be enabled via Flexa, an instant, scalable, climate-neutral, and pure-digital payment network that supports bitcoin, etherm litecoin, dogecoin, and other cryptocurrencies. Sheetz rewards members will have the option to link their loyalty accounts when paying with Flexa-enabled apps. 

Linda Smith, payments manager for Sheetz, said the addition of these capabilities is in line with the company’s mission to meet all needs of its customers. 

*Article Courtesy of Philadelphia Business Journal

For more information about New Jersey or Philadelphia cannabis health care space, New Jersey or Philadelphia industrial space, New Jersey or Philadelphia retail space, and New Jersey or Philadelphia office space or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis healthcare space, New Jersey and Philadelphia office space, New Jersey and Philadelphia retail space, and New Jersey and Philadelphia industrial space.

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

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

As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for New Jersey or Philadelphia office space, Philadelphia or New Jersey retail space, or New Jersey or Philadelphia industrial space for sale or lease, Wolf Commercial Real Estate is the New Jersey and 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, Philadelphia, and New Jersey commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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Target To Accelerate Real Estate Expansion Plans Amid Sales Growth

Target Corp. said it is planning to keep its strong sales momentum going by upping the ante on building out its logistics network over the next 24 months.

The retailer, based in Minneapolis, reported another stellar quarter of sales Thursday, suggesting that the past year of growth could continue as pandemic fears ebb. Executives announced plans to accommodate increasing demand by adding more properties than they anticipated just months ago, including at least five experimental sortation centers, four distribution centers and 30 new stores.

“Our performance in the first quarter was outstanding on every measure, and showcased the power of putting our stores at the center of our strategy,” said CEO Brian Cornell during a Wednesday earnings call.

Like Walmart and Amazon, Target is one of the few retailers that has flourished through the coronavirus pandemic, which brought down many less nimble and less diversified competitors. Target was one of a limited number of essential retailers, which were largely purveyors of food and household goods, that were allowed to stay open by many communities during quarantining. Consequently, its sales soared over 2020, buoyed first by a spate of survivalist-style shopping sprees by panicked consumers followed by an explosion in online ordering — facilitated by in-store and curbside pick-up services — as the illness lingered and social distancing became the norm. 

Target’s first-quarter results suggest that its gains in sales and customer base could outlive the health crisis, but executives said the company needs to act quickly and expand physically in industrial and retail real estate if it is to keep up with higher baseline demand. 

Target’s comparable in-store sales grew 18% in its first quarter of 2021, which ended May 1, over the first quarter of 2020, when the arrival of the coronavirus pandemic spurred consumers into a survivalist-style shopping spree and hyper-charged the retailer’s sales. Comparable digital sales over the first quarter of 2021 increased 50% over the year-earlier period. Cornell said that Target captured another $1 billion in market share over the first quarter of 2021 as well, further underlining his contention that Target’s performance over 2020 was not a fluke of circumstance. 

Chief Operating Officer John Mulligan said Target intends to add four new regional distribution centers by the end of 2022, an expanded and more specific plan than the one Target executives outlined in March. At the time, Target disclosed plans for the first two: a 1 million-square-foot facility at 3501 S. Pulaski Road in Chicago and a 1.11 million-square-foot building at 2858 U.S. Route 322 in Logan, New Jersey.

These are expected to open over the next few months, Mulligan said on Wednesday. He did not provide information about the locations of the two additional facilities but said they are expected to be in high-volume, high-growth regions. 

“Once these buildings are operating at scale, they’ll meaningfully shorten lead times to nearby stores, improving in-stock levels while reducing the need for safety stock in those locations,” Mulligan explained.

‘Opportunity in Front of Us’

On the other end of the size spectrum, Target executives said the company was pleased with the performance of a pilot project, a new sortation center at a 399,000-square-foot building at 2600-2800 NE Winter St. in Minneapolis. 

The facility is far smaller than a traditional retail warehouse and was intended to work as a rapid-fire throughput, rather than a storage space.

The sortation center model is “designed to receive and sort packages from a large group of surrounding stores multiple times a day, which allows for more optimized, granular sortation,” Mulligan said on the Wednesday call. “This precision reduces cost for our delivery partners, meaningfully reducing what we pay for delivery. In addition, these facilities eliminate the need for sortation at the stores they serve, while freeing up packing capacity at those same locations.”

Given the success of the Minneapolis location, Target said it intends to build up to five more sortation centers this year, with more to come in 2022. Those new sortation centers are designed to be smaller than the pilot location, and smaller than even a typical Target store, Mulligan said. For reference, Target stores are about 130,000 square feet on average, according to statistics provided by the company.

Mulligan did not provide specifics as to the locations in play, but did say Target would focus on “markets with a high concentration of local package delivery.”

He added that Target is still taking a conservative approach to the expansion of sortation centers, and still had a lot of runway for the rollout of the model. 

“It’s early days for us still. We always talk about crawl, walk, run [at Target],” Mulligan said. “I’d say we’re still firmly in crawl here in Minneapolis. And so we see a lot of opportunity in front of us.”

On an even smaller scale, Target executives said the company is investing in updated fixtures inside its existing facilities to create additional capacity. The new equipment is not expensive, but is expected to free up “a substantial amount” of capacity in Target’s existing logistics network, Mulligan said. He estimated it was enough to equal about 1.5 new distribution centers.

Target is also ramping up its building program on the consumer-facing side, its fleet of about 1,900 stores. Over the second quarter, Target intends to remodel about 30 stores, with 100 more planned for the second half of the year, Mulligan said. 

The company plans to open about 30 additional stores across the country this year. Most are meant to be small locations in densely populated areas, with footprints of 50,000 square feet or less, Target’s format of choice over the last five years. 

However, Mulligan said that some of these would be reminiscent of the big box stores of the late 1990s and early 2000s. 

“Given the local real estate conditions in dense suburban markets, we’re also finding compelling opportunities to open somewhat bigger stores between 50,000 square feet and 100,000 square feet, which weren’t available in the past,” Mulligan said.

In terms of total investment, Chief Financial Officer Mike Fiddelke said during a Wednesday earnings call that Target had put about $500 million in capital expenditures over the quarter that just closed. Target plans to put about $4 billion into capital expenses by the end of the current fiscal year, Fiddelke said. 

Overall, Target’s total quarterly revenue hit $24.2 billion, a 23.4% increase year-over-year. Its earnings skyrocketed as well, clocking in at $3.69 per share on an adjusted basis, up 525% compared with $0.59 in first quarter of 2020.

*Article courtesy of CoStar

For more information about New Jersey or Philadelphia cannabis health care space, New Jersey or Philadelphia industrial space, New Jersey or Philadelphia retail space, and New Jersey or Philadelphia office space or other New Jersey and Philadelphia commercial properties, please call 856-857-6300 to speak with Jason Wolf (jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading New Jersey and Philadelphia commercial real estate broker that specializes in both New Jersey and Philadelphia cannabis healthcare space, New Jersey and Philadelphia office space, New Jersey and Philadelphia retail space, and New Jersey and Philadelphia industrial space.

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

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

As experts in both Philadelphia and New Jersey commercial real estate listings and services, the team at our commercial real estate brokerage firm provides ongoing detailed information about Philadelphia and New Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for New Jersey or Philadelphia office space, Philadelphia or New Jersey retail space, or New Jersey or Philadelphia industrial space for sale or lease, Wolf Commercial Real Estate is the New Jersey and 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, Philadelphia, and New Jersey commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

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