Philadelphia Real Estate Council

The federal government plans to cover the entire cost of rebuilding the Francis Scott Key Bridge, lawmakers announced Tuesday, fulfilling a promise from President Joe Biden and clearing up a pivotal outstanding question as the state recovers from the tragedy. To read the full article, head to:  https://lnkd.in/eCnax6Wb For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

Thank you to everyone who attended our PREC Winter Quarterly Meeting! A big thank you to our speakers, Grant Phelan, George Connelly, Justin Ackerman, & Jim Smith! Thank you to our event host Firstrust Bank! The Philadelphia Real Estate Council is actively open to new members who are owners/developers/investors of commercial real estate. If you are interested please reach out to zuzanna.r@precouncil.org 

ICYMI This week, Grant Phelan was a panelist for the Philadelphia Real Estate Council 2024 Winter Quarterly Meeting on "Issues in Insurance." He joined a great panel for an interesting discussion on how issues in insurance are currently affecting the real estate industry. #KlehrInTheNews #PREC #CRE #CommercialRealEstate #PhiladelphiaRealEstate

Philadelphia officials broke ground Tuesday on a major overhaul of Market Street from Second to Sixth Streets, with the goal of making the historic thoroughfare a much easier place to walk, bike, and eat. The goal is to complete work by the Semiquincentennial, or America’s 250th anniversary, in 2026. To read the full article, head to:  https://lnkd.in/erMYpWQx For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

More than 20 years ago, SEPTA agreed to lease Richard Allen Lane Station to real estate developer Ken Weinstein. He renovated the vacant building in West Mount Airy, then brought a coffee shop to the first floor and rented the apartments above. Now, amid a financial crisis, the cash-strapped authority is set to lease out five more Northwest Philadelphia rail stations to Weinstein, a deal that saves SEPTA millions while removing blight in those neighborhoods. To read the full article, head to:  https://lnkd.in/efVV-WyW For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

KPR Centers has acquired Eagle Plaza, a 230,000-square-foot grocery-anchored neighborhood shopping center in the Philadelphia area, from First National Realty Partners for $41.7 million. To read the full article, head to:  https://lnkd.in/ePbp7KjB For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

For the venerated Philadelphia law firm Dilworth Paxson LLP, this December brought a flashback to 2020. The company has gone fully remote again for at least the next four weeks, as it moves offices from its home of 15 years at troubled Centre Square to smaller, but more expensive, accommodations at One Liberty Place. To read the full article, head to:  https://lnkd.in/eB6aBWRU For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

Prices for office space in Philadelphia continued to decrease in the second half of the year. The market’s fundamentals did not show signs of improvement, with vacancy ballooning 510 basis points over the past 12-month period ending in October. To read the full article, head to:  https://lnkd.in/gYrEADNU For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

Three Philadelphia-area hospitality and real estate firms have bought the Boat House bar and the adjacent shuttered Hamilton’s Grill Room in Lambertville, New Jersey. Refined Hospitality, BRICKSTONE REALTY, and Trax Partners also acquired each restaurant’s corresponding liquor license. The sale closed on August 29. To read the full article, head to:  https://lnkd.in/eEQfVCai For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

The clock is ticking for anyone interested in scooping up prized Center City real estate from the now-defunct University of the Arts. Why it matters: The sale of nine buildings on or near South Broad Street is a chance to redefine the city's core commercial and arts hub. To read the full article, head to:  https://lnkd.in/edn5chjv For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket