Is The Philadelphia Industrial Market Recession-Proof?
The cycle may be nearing its end for multifamily and office real estate in the Philadelphia area, but industrial is poised to keep going strong for the foreseeable future.
Positioned between New York and Washington, D.C., Greater Philadelphia has experienced not just steady demand after a few busy years, but continued growth, CBRE Capital Markets Vice Chair Michael Hines said at Bisnow's 8th Annual Philadelphia Industrial & Logistics event last week.…
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East Market Development Takes Victory Lap With Grand Opening Ceremony
Four years after it broke ground, East Market's first phase is fully open for business.
In a ceremony attended by business and community leaders, including Mayor Jim Kenney, National Real Estate Development cut the ribbon on the $400M first phase…
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Report: Amazon In Advanced Talks To Put HQ2 In Northern Virginia
Amazon appears to be closing in on Northern Virginia as the long-awaited winner of its HQ2 competition.
The tech giant is in advanced discussions about selecting Arlington's Crystal City neighborhood, the Washington Post reports, citing anonymous public and private sector officials. …
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The Beginner's Guide To CRE Tech: 4 Reasons Why Venture Capitalists Are Betting Big On Real Estate Tech
Venture capitalists have been aggressive in their bets on the latest commercial real estate tech startups seeking to transform the industry.
In September alone, a whopping $2.7B in venture capital funneled into 45 PropTech startups, up 12.5% from the $1.17B invested in 40 companies in August, according to data from RETech.net.
Why is this segment of the tech industry receiving such attention from venture capitalists? For an industry as resistant to change and technological advancements as commercial real estate, tech-enabled real estate unicorns like WeWork and Airbnb have piqued the interest of both entrepreneurs on the hunt for the next industry disrupter and investors that want to get in on the action.
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EXCLUSIVE: RXR CEO Scott Rechler On Getting Out The Vote, Politics And Fixing The Subway
Scott Rechler does not speak with brash hyperbole, engage in heavy self-promotion or even raise his voice much above a low, measured level — somewhere between a bass and a baritone. But the CEO of New York real estate powerhouse RXR Realty, one of the most powerful figures in the city, is deciding to use that voice to tell people to vote.
"I've been more vocal than the average citizen in taking [voting] more seriously," he told Bisnow in a phone interview last week. "We can't just rely on elected officials to solve our issues, we have to be more empowered to do that."
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'Good For Humans': Economists React To October Jobs Report On Twitter
Nonfarm payroll employment increased by 250,000 jobs in October, the U.S. Bureau of Labor Statistics reported Friday, marking the country's 97th straight month of employment gains. The unemployment rate held at 3.7% for the second consecutive month, a low it had not previously reached since 1969.
Construction employment was up 30,000 jobs in October, with 14,000 of those jobs occurring among residential specialty trade contractors. The construction industry has added 330,000 jobs over the year.
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