REBusinessOnline

Healthcare Developers Adapt to Changing Landscape

Anyone who has kept an eye on the healthcare real estate sector over the past several years is aware of the property type’s reliability amidst increasing economic uncertainty, which has resulted in growing interest among investors. However, for what has become one of the hottest investment sectors in recent years, transformations underway within the healthcare industry will bring changes to the asset class over the next decade. Bob Atkins, Managing Partner, Atkins Cos. The …

Philadelphia’s New Brand Identity in Commercial Real Estate

Interest in Philadelphia among commercial real estate investors has been on the rise for years. But the Eastern Pennsylvania market managed to maintain a relatively low profile in the public consciousness, overshadowed by its larger East Coast primary market rivals, each with its own clear brand identity. But this is largely a thing of the past. Philadelphia has emerged lately as a leader in cutting-edge biotech and life science innovation. The city is a magnet for gene and cell-level …

Philadelphia Retail Market Embraces Change in ’20s

As our economy fades out of one decade and cruises into the next, a look in the rearview mirror reveals more than 10 years of expansion and 10-year GDP growth in excess of 26 percent. Sean Beuche, Marcus & Millichap The Philadelphia and Northeastern retail investment sales markets should be both thankful for progress made and road bumps navigated and mindful of several current trends affecting transactions and challenges looming on the horizon for owners and tenants of single …

Expanded Rent Stabilization Law Freezes NYC Stabilized Multifamily Property Market, Generates Buying Opportunities for Intrepid Investors

New York state authorities last year passed legislation designed to maintain rental affordability and housing stability in the Empire State. Mandated changes for units not currently subject to stabilization were mostly technical in nature — relating to rent increase notification periods, evictions and security deposits — but the impact on the New York City’s nearly 1 million regulated units was significant. Previously, an owner’s ability to raise stabilized unit rents was limited by a …

Boston Life Sciences Market Shows No Sign of Slowing in 2020

At this point, it sounds like the movie “Groundhog Day,” but 2019 was another impressive year of growth and success for the greater Boston life sciences real estate market — and that growth shows no signs of subsiding any time soon. Duncan Gratton, Cushman & Wakefield Strong levels of venture capital investment, big pharmaceutical partnerships and merger and acquisition activity continued to fuel unprecedented demand for life sciences space, not only in and around …

Passive House Construction Can Help NYC Developers Save on Emissions Costs

Recently, New York City passed the Climate Mobilization Act bill as a way to counter climate change. If passed into law, the bill’s foundation would require buildings that are larger than 25,000 square feet to cut climate emissions by 40 percent by 2030 and by more than 80 percent by 2050. The legislation also requires certain buildings to cover roofs with plants, solar panels, small wind turbines or a combination of those elements. Rent-regulated housing, as well as structures of worship, …

Savvy Retailers ‘Recalibrate’ in New York City

Manhattan has long been one of the most competitive retail markets in the country due to two characteristics of its population: an incredible density and high incomes among residents and workers. The Bureau of Labor Statistics reported that the average weekly wage of Manhattan’s private sector workforce was $3,153 in the first quarter of 2019, much higher than the national average of $1,184 per week. In addition to its residential base, tourism plays a strong role in Manhattan’s retail …

American Dream Ushers in Retail, Entertainment Growth in Northern New Jersey

Across the Hudson River, retailers and residents in Northern New Jersey benefit from lower rents and lower sales prices relative to Manhattan. In addition, mass transit lines that cross the river enable mixed-use destinations that offer dining and entertainment experiences, including the new American Dream project, to function as day-trip destinations for residents and tourists. “Northern New Jersey is still a strong tenant’s market,” says John Azarian, co-founder and CEO of New …

Selling Affordability is Crucial in Metro Boston

With a pressing demand for new housing in the Boston area and communities struggling to provide affordable options to mitigate the effect of rising prices, the barriers to providing new affordable multifamily properties remain significant. Here in the Boston region, the scale of the problem is immense. Boston’s Metropolitan Area Planning Council recently declared a need for 185,000 new units of housing over next 10 or so years in the 15 cities and towns that comprise the inner core of the …

Office Landlords in Northeast Offer an Array of Amenities to Attract Tenants

In the largest office markets of the Northeast, landlords are competing to attract valuable corporate tenants by providing the highest quality work-life balance for the region’s talented workforce. The Boston, New York and Philadelphia office markets are among the most competitive in the country. While factors like salary, commute time and personal fulfilment remain important in deciding where to work, employees are now placing more emphasis on amenities and work-life balance in their final …

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