Monthly Archives: May 2016

The general outlook held by executives in the commercial real estate industry is something Pennsylvanians who are involved in the market should take note of. Forbes has taken a survey of executives, and the results were mostly positive.

Real estate investors in Philadelphia may use the real estate search engine Zillow to look for properties and get a sense of average home values in certain areas. Recently, rising home values in Philadelphia have caused Zillow to reclassify the city’s real estate market as ‘very hot.” The average home price in Philadelphia is now at a record high.

On April 14, Wyatt, Inc., a subcontractor working for Turner Construction Company, filed a complaint against the company, alleging that it refused to pay for completed work and for a breach of contract. The plaintiff is seeking more than $5 million in damages via trial by jury.

Reports indicate that a Philadelphia elected official has introduced a bill to delay construction work on a controversial 32-story tower in that city. The legislation would place a one-year moratorium on building work at the Washington Avenue and Broad Street site. This would give critics of the development time to provide input before any final decisions are made concerning the controversial mixed use project.

With offices throughout Pennsylvania and New Jersey, our law firm offers effective legal counsel in a variety of matters pertaining to the construction industry. Backed by decades of experience, our knowledgeable attorneys have been assisting clients nationwide with construction law issues of all kinds. From drafting complex construction project contracts to resolving construction-related disputes, our goal is to help you get your construction project completed as quickly and efficiently as possible.

Philadelphia real estate investors should take note that U.S. commercial real estate values have stopped appreciating, according to an April report by real estate research firm Green Street Advisors. The news comes after six years of steady market growth.

Philadelphia new business owners as well as commercial property landlords are both operating in a culture of change. For decades, commercial real estate leasing was governed by a combination of written laws and regulations as well as customary business practices. During the last decade, changes in how businesses operate have caused major disruptions in the commercial real estate industry.

Pennsylvania real estate developers may be somewhat alarmed that loss rates on banks’ commercial real estate loans rose in the fourth quarter of 2015, according to a new report by Sageworks. Late last year, regulators announced that they would increase oversight of CRE lending activities by financial institutions after noting a loosening of underwriting standards.