PHILADELPHIA, PA—Investor interest in the Philadelphia Central Business District is at historically high levels, as buyers broaden their search for new investment opportunities, according to Douglas Rodio, a managing director at Jones Lang LaSalle in Philadelphia.
Rodio, moderating the Capital Markets panel at ALM's RealShare Philadelphia Conference February 9 at the historic Union League Club, tells GlobeSt.com exclusively that new capital inflows are likely to continue this year.
"In my twelve years selling investment real estate in Greater Philadelphia I've never seen this much interest in the Philadelphia CBD," says Rodio. "We've seen more buyers that typically focused only on gateway markets expanding their investment criteria to include Philadelphia, which I believe is the most in-demand non-gateway market in the country."
Investors outside the New York-Washington corridor are also starting to examine opportunities in the Delaware Valley, says Rodio.
"This interest started with groups based in New York and Washington, DC, but has expanded to groups located other regions throughout the country," he says. "We've also seen international investors close on transactions in the city this year and pursue high-quality offerings in both the city and select suburban markets. New capital chasing deals in the Philadelphia CBD and select suburban submarkets is a trend that I believe will continue throughout 2016."
The Capital Markets panel, "Inspiration, Investing, and Impact," also will include panelists Lizann McGowan, senior vice president; CBRE; William "Billy" Procida, president, Procida Funding & Advisors; Timothy A. Proctor, senior vice president and regional director, TD Bank; Matthew Rosenberg, director, Marcus & Millichap Capital Corporation; and Chris Terlizzi, senior vice president and regional manager, First Niagara Bank.
The panelists, who specialize in Philadelphia's capital structure, will delve into critical issues ranging from the supposition of an overheated market, to a possible slowdown from a crest in the cycle, to a bounce back similar to 2015.
The panel is scheduled to start at 9:10 a.m. The conference kicks off Tuesday, February 9 at 7:30 am at the Union League Club, 140 South Broad Street, Philadelphia.
Get information on the RealShare Philadelphia 2016 Conference at this link.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
