PHILADELPHIA-Metro Commercial Real Estate is opening a thirdoffice, this one in Center City, here. The new office will begin at1,600 square feet at 123 South Broad St. and will be headed-up byMetro president Steven H. Gartner. The move comes after a 25-yeartenure in the Philadelphia-metro region, but without being in thecity itself. Its other two offices are located in suburbanPennsylvania and New Jersey.

Gartner tells GlobeSt.com that the move was a pretty simpledecision. Metro has been a full-service retail company forPhiladelphia for a long time, he explains, and Center City is aplace they’ve done a lot of business, so the move just made sense.He also notes that timing played a role in the company’s expansion.“The worst is behind us,” Gartner says. “We have to be able toservice expanding retailers,” and have the capabilities to servewhat they need.

The location also gives Metro a foothold in hiring talent whichmay not find its way outside the city limits. Gartner also notesthat retail in Philadelphia is looking up, with a few caveats. “Themarket is up in part because of the low pipeline where retail wantsto be,” in Philadelphia, Gartner tells GlobeSt.com. This drivesprices up as everyone “wants to be on the same pinhead.”Neighborhood street retail is suffering, he notes, particularly inthe suburbs. Local retail is running into trouble, much of it fromnot getting trade credit, he points out. And while retail islooking good in the short-term, worries about inflation remain, hesays.