Top Economist Expects Inflation to Cool
Geopolitics, The Fed and COVID Policies Will Decide Economic Future According to economist Bernard Baumohl, one of the top questions pending for the fate of the U.S. economy and the hotel industry is just how far the Federal Reserve is willing to push its plan to raise interest rates and tamp down inflation. Speaking during […]
Philly Update: Thousands of Comcast Employees Are Returning
Comcast workers are back in Center City. Their return is ‘flexible’ — but it’s already rejuvenating downtown The return of Comcast employees to the office signals a noteworthy moment in Philadelphia’s pandemic recovery, bringing thousands of people back into Center City after more than two years of working from home. Comcast sent a corporate memo […]
Philadelphia Bioscience Growth Continues
Nuveen Loans $265 Million for Philadelphia Life Science Building, Project Aims To Build 200,000 Square Feet of Lab Space Pennsylvania-based Keystone Development and Investment has secured a strong endorsement in the form of a loan from an affiliate of insurance giant Teachers Insurance and Annuity Association of America. TIAA’s Nuveen Real Estate agreed to provide […]
US Retail Property Sector Bounces Back
No More Supply Glut as Demolition of Obsolete Retail Space Outpaces New Store Construction According to a recent article on CoStar, analytics show that the retail property sector has bounced back to even better shape now than before the COVID-19 pandemic. Retail availability rates have declined to their lowest levels since before the Great Recession, […]
Tishman Speyer Venture Breaks Into Philadelphia Biotech Market
Philadelphia, long a secondary market for biotech investment, is seeing an uptick in development as investors seek to meet demand from an expanding roster of life sciences tenants on the hunt for a shrinking amount of available space. Greater Philadelphia is considered the strongest cell and gene therapy hub in the nation, attracting nearly $4 […]
Back-To-School Spending Set To Be An All-Time High
Back-to-school spending might reach an all-time high this season, according to a new report from Deloitte. Over half of surveyed back-to-school shoppers expressed inflation concerns, but many still plan to purchase needed supplies. Spending for the category is expected to reach up to $34.4 billion for K-12 students and $28.3 billion for college shoppers, per […]
How The Supply Chain Crisis Is Being Solved
The supply chain is volatile. There have been many problems of late, and we continually hear about overland trucking issues causing additional delays after merchandise finally gets unloaded from delayed cargo ships. Christmas 2021 was a nightmare, and companies like Walmart and Costco now have their own cargo ships to expedite merchandise to U.S. ports. […]
Philly On The Verge of Another “Rendell” Moment
In a recent Philadelphia Inquirer article, local business leaders discuss how Center City Philadelphia has nearly recovered to pre-pandemic levels of jobs and downtown foot traffic, although non-resident workers still haven’t fully returned physically to their Philly workplaces. In fact, according to a new report from the Center City District, the city could be on […]
Grocers And Restaurants Are Leading Retail Growth
For the First Time in 5 Years, Brick-and-Mortar Retail Openings Are on Track To Outnumber Store Closings Here’s something to look forward to: Brick-and-mortar store openings in 2022 are on pace to outnumber store closings for the first time in five years. The trend is an ironic byproduct of the pandemic, said Erik Foster, a […]
$580 Million in Upcoming Philadelphia projects
Recent proposed projects in Philadelphia show how some of the city’s development hotbeds are continuing to heat up. Just since February 2022, over $580 million in new projects have been proposed for the Greater Philadelphia region. In Fishtown, an area in east Philadelphia, a mixed use development (the Frankford) is being planned for 1120 Frankford […]