Research

"Demand has kicked in throughout the Greater Philadelphia Metro, which includes Philadelphia proper as well as South Jersey and the city's northern and western suburbs," says Gebroe-Hammer executive managing director Joseph Brecher.

Returns have also moderated from an average of 8.8% in 2018, down 30 bps from 9.1% in 2017, according to Hodes Weill & Associates and Cornell University's annual Institutional Real Estate Allocations Monitor.

Statewide closed sales of existing single-family homes totaled 23,510 last month, an increase of 11.5% from September 2018, according to Florida Realtors. Florida's condo-townhouse market totaled 9,007, up 6.1% compared to a year ago.

CBRE in its third quarter office report states that new office development is now forecast to be just below 2.5 million square feet by the end of 2020.

The average overall market rent for the region stood at $6.50-a-square-foot, a 1% increase versus last quarter, and a 6.2% increase versus the same period last year.

Sales volume and prospecting activity held steady in the third quarter. WCRE states that third quarter leasing activity was higher in Camden County, and particularly in Cherry Hill, but fell for the region overall. Gross leasing absorption was positive, but trended lower quarter-over-quarter.