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Commercial Real Estate INSIGHTS

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Find the information you need to make informed commercial real estate decisions with up-to-date insights and the latest commercial real estate news. Our Coldwell Banker Commercial brokerage professionals provide invaluable, game-changing advice for businesses, identify real estate opportunities that others might overlook and offer creative solutions and sound business sense in an ever-changing environment. For more information, contact one of our specialists today.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Land Sales Trends

Insights: Land Sales Trends

The U.S. economy entered a recession in February, 2020, per the National Bureau of Economic Research. Commercial real estate development typically slows during a recession because developers do not want to incur the holding costs of land parcels if there is not an expected demand for new product.

Insights: Student Housing 2020

Insights: Student Housing 2020

The main uncertainty in the student housing sector is COVID-19’s impact on the 2020-2021 school year’s leasing. There is a variety of factors which make the student housing occupancy outlook uncertain.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Landlord Employer Liability

Insights: Landlord Employer Liability

The ongoing coronavirus pandemic raises the question of whether landlords with leased properties can be held liable for injuries sustained when someone contracts COVID-19 at the premises.

Opportunity Zones & Taxes

Opportunity Zones & Taxes

What are Opportunity Zones? The real estate industry is buzzing about this new program which allows private investment in country’s distressed communities. CBC brings you a quick overview to help you understand what they are and how investors can use them for their benefit.

Regional Summaries

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Philadelphia, PA

Apartment
The 225,199-unit metro Philadelphia apartment market vacancy rate is 4.2% in the second quarter of 2019, essentially unchanged for the period and a year earlier. During the second quarter of 2019 both the average asking rent and the average effective rent surged 1.5% to $1,399 per month asking and $1,336 per month effective. The year-over-year gains are large at 5.5% and 4.9%, respectively. VIEW APARTMENT LISTINGS >
Industrial
The Philadelphia industrial market came roaring back in the second quarter of 2019, as both the 252-million-square-foot warehouse/distribution market and the 48.2-million-square-foot Flex/R&D market had strongly positive net absorption after negative first quarters. Reis reports a 7.3% vacancy rate for warehouse/distribution space in metro Philadelphia in the second quarter, down 10 basis points from the prior quarter and up 10 from a year earlier. For warehouse/distribution space, both the average asking rent and the average effective rent fell 0.2% during the period to $4.96 psf and $4.59 psf, respectively. The year-over-year gains were reduced to 1.4% asking and 1.3% effective. The local Flex/R&D vacancy rate is 10.0%, down 40 basis points over three months and unchanged over twelve months. For Flex/R&D, the second quarter saw the asking average rise 0.4% to $7.73 psf and average effective rent increase 0.3% to $7.09 psf. The year-over-year gains are 0.7% and 0.9%, respectively. VIEW INDUSTRIAL LISTINGS >
Office
The 112.7-million-square-foot metro Philadelphia general purpose, multi-tenant office market vacancy rate was 13.4% in the second quarter of 2019, up 10 basis points for the period alone and up 30 from a year earlier. Both the average asking rent and the average effective rent increased 0.9% in the second quarter of 2019, and each is up 2.2% year-over-year. The second quarter averages were $27.91 psf asking and $22.98 psf effective. VIEW OFFICE LISTINGS >
Retail
Philadelphia's second quarter 2019 community-neighborhood shopping center vacancy rate is 11.1%, down 20 basis points for the period and down 40 over six months. The rate, however, is still up 20 basis points year-over-year. Community-neighborhood center rents picked up in the second quarter along with occupancy. The average asking rent increased 0.4% to $21.44 psf, while the average effective rent rose 0.5% to $19.13 psf. The year-over-year increase is weak at 0.9% by both measures, following the even weaker gains of 0.3% asking and 0.4% effective for all of 2018. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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