Philadelphia’s East Market Street has been a commerce and transportation hub since the time of 19th-century slaughterhouses and horse-drawn trolleys. This strip of retail space in Philadelphia has certainly experienced both good times and bad. Even with the 1977 opening of the Gallery, the consolidation and downfall of Philadelphia’s grand department stores resulted in an… Read more »
Posts Tagged: Philadelphia commercial real estate broker
Philly Retail Space Stands to Benefit from Increase in Retail Chain Store Openings
Retail chains in the U.S., including those in the Philly Retail Space market, plan to open 42,506 new stores in the 12 months and 79,650 stores in the next 24 months, a jump of 4% and 4.2%, respectively in new store openings year to date in 2015, according to a new report. The jump in… Read more »
Local Market Remains Steady despite National Economic Volatility
While the national economy was affected by turmoil in the global markets, the Philadelphia commercial real estate market continued its progress for another quarter, according to the latest quarterly analysis from Wolf Commercial Real Estate, a premier Philadelphia commercial real estate broker that specializes in Philly commercial real estate listings and services, including Philly retail… Read more »
Philly Retail Space Update: Mixed Use Trend Hits Retail Space
The familiar design of lifestyle centers and traditional malls is being rethought as commercial real estate developers look to attract tech-savvy millennials and affluent baby boomers by introducing office space and residential living space to retail centers, including Philly retail space. A report from the CoStar Group notes that mall and lifestyle center developers are… Read more »
Low Level of Retail Construction Starting to Crimp Net Absorption
With shopping center vacancies, including those involving Philadelphia commercial properties, continuing to tighten as retailers with retail space in Philadelphia and other areas across the country slowly fill the remaining excess space, with both nationwide and Philadelphia commercial real estate listings are facing a dwindling number of high-quality locations. The U.S. retail real estate vacancy… Read more »
Banks Close More Branches As Transactions Move Online
Joining many consumer goods retailers who are downsizing their brick and mortar locations, some of the nation’s biggest banks are now touting their bank branch closure plans. The primary driver behind both decisions is the same: more banking activity is occurring online and less in the physical world. But banks have an additional driver: regulators… Read more »
Report: Every Sector of Philadelphia Retail Space Development at Its Peak
Retail space in Philadelphia is springing up with many major real estate developments, and Center City is undeniably at its center. For a couple of years, the city has been observing the development of level it hasn’t seen since the construction of Liberty Place towers during the late 1980s. And the same trend will continue… Read more »
Philly Retail Space Update: The Struggle for Balance between Online and New Store Growth
Retailers, including those in the Philly retail space market, are struggling to develop a strategy for future sales growth that balances online expansion and opening new stores, according to new retail analysis. BDO USA’s ninth annual analysis of risk factors noted by the 100 largest U.S. retailers in their most recent annual reports found that… Read more »
Philly Retail Space Vacancy Rate Unchanged In First Quarter
Vacancies in the market for Philly retail space held fairly steady in the first quarter 2015, according to the latest market analysis from the CoStar Group. The market experienced little change as the vacancy rate for retail space in Philadelphia went from 5.8% in the fourth quarter 2014 to 6.0% in the first quarter of… Read more »
First Quarter Report: Strong Start for South Jersey Commercial Real Estate
Propelled by fourth quarter 2014’s growing momentum, the South Jersey commercial real estate market kicked off the year on a robust note, according to a new quarterly market report from Wolf Commercial Real Estate, a leading Philly commercial real estate brokerage firm with expertise in South Jersey and Philadelphia commercial real estate listings and services,… Read more »
