Commercial Real Estate Archives
A new health center is opening in the Exton Square Mall outside of Philadelphia. It is not a quick-stop clinic, either; it is a full-service, 32,000-square-foot primary care clinic with a staff of 75. In addition to its “traditional” clinic space, the site will boast a cancer center, an urgent care clinic, a laboratory and even a physical therapy and rehabilitation center.
Continue Reading ‘OK, but then I need to stop at the mall for a DQ and an MRI’...
Tags: Commercial Real Estate
This has been quite a week for Philadelphia’s commercial real estate market. The Philadelphia Business Journal is reporting that J.C. Penney Corp. will close two stores in the metropolitan area and that Comcast and Liberty Property Trust have joined forces to put up a new skyscraper in Center City.
Continue Reading Comcast plans Innovation & Technology Center for Center City...
Tags: Commercial Real Estate
Fans of retailer Anthropologie will be happy to learn that the store will not be relocating from its Rittenhouse Square location. The purveyor of women’s clothing and household accessories has reportedly negotiated a new lease with Philadelphia Urban Investors LP that should be a win-win for both landlord and tenant.
Continue Reading Lease renegotiation allows owner to sell, retailer to stay...
Tags: Commercial Real Estate
It struck us recently that commercial real estate’s buzz words and acronyms and secret handshakes can be both a curse and a blessing. The curse, of course, lands on industry outsiders and people new to the business; they are left wondering what the heck is going on. The blessing is that once you grasp the terms, meetings with city planners will make more sense and negotiations with contractors, suppliers and, yes, the city will go more smoothly and a little faster.
Continue Reading A small piece of your commercial real estate jargon decoder ring...
Tags: Commercial Real Estate
The Franklin Mills Mall was one of the first outlet malls in the country. Its location in Northeast Philadelphia was unique among outlet malls when it opened in 1989. Most outlets were far outside city limits in converted manufacturing facilities, but Franklin Mills was just off Interstate 95. Its size — 1.7 million square feet — made it a destination for tourists; its proximity made it a destination for locals.
Continue Reading Everything old is new again at Philly’s Franklin Mills Mall...
Tags: Commercial Real Estate
Philadelphia could find itself as the new home to a construction consulting company with business that extends into multiple states and even countries. This company employs 4,000 individuals and has approximately 100 offices across the world. The company is Hill International.
Continue Reading Hill International’s move to Philadelphia hinges on lease terms...
Tags: Commercial Real Estate
Economists are spending their time this week trying to figure out how much the federal shutdown cost the country. Before the shutdown, though, at least one economist was figuring out how the commercial real estate market has changed over the past few years. As we said in our last post, the economist, a speaker at an Urban Land Institute symposium, suggests that it is time to stop blaming the slow recovery, especially in the office market, on the recession.
Continue Reading Tech affects commercial space: ‘Industrial’ is the new ‘office’ p2...
Tags: Commercial Real Estate
The time has come to stop blaming the recession for the slow commercial real estate market, according to an economist presenting at an Urban Land Institute event. The office market has been improving, but incrementally. Office space absorption is down about 40 percent from before the recession, and it is unlikely to recover completely. Brokers, agents and customers need to embrace the new normal, it seems, and the new normal has a lot to do with advances in technology.
Continue Reading Tech affects commercial space: ‘Industrial’ is the new ‘office’...
Tags: Commercial Real Estate
Last month it was the company Destination Maternity, a leading global designer and retailer of maternity clothes, that made a major announcement concerning relocation of its corporate headquarters.
Continue Reading Second in a month: Philly company leaves, citing limited space...
Tags: Commercial Real Estate
Walking down the streets of Philadelphia, you may feel the steady gaze of William Penn looking down from atop City Hall. Chances are good, though, that Penn’s stare will not melt your car or set fire to your welcome mat on a sunny day. Those are feats that only 20 Fenchurch Street can lay claim to.
Continue Reading If you can’t stand the heat, get away from the ‘Solar Death Ray’ 2...
Tags: Commercial Real Estate
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