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Philadelphia State Of The Market

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Philadelphia State Of The Market

What's Next For CRE In Philly As Our City Continues To Expand?

THIS EVENT ENDED ON May 15th, 2019

What You'll Learn

1. What asset classes can expect to see the largest margins of growth in 2019? 
 
2. What major developments are in the pipeline that you should know about now? 
 
3. Class-A office vacancy rose to 8.1% in Q4 of 2018, how can Philadelphia’s office market get back on track in 2019? 
 
4. Are adding restaurants and entertainment the key to get Philadelphia’s retail centers back on track, after a disappointing 2018? 
 
5. Is there an oversupply of multifamily in Center City as both demand and vacancy rates have rose?

EVENT HOST

The Lits Building - Five Below Headquarters

Events Raw Space

Lit Brothers department store began as a single building on the corner of 8th & Market Street in 1893. By 1907, Lit Brothers had acquired and constructed the balance of the block in 13 separate stages to unify the building as it exists today for their iconic department store.

In 1985, an affiliate of Brickstone acquired the property and undertook its certified historic rehabilitation, incorporating all-new systems while retaining the character of the first 1893 structure on 8th and market and its final 1907 expansion. The property earned the National Trust Honor Award for best large-scale commercial rehabilitation in the nation 1989.

In 2016, Brickstone launched a major program of capital improvements, including rooftop LED signage, illumination of the entire building façade to showcase the historic architecture, and upgrades to building common areas, vertical transportation systems and operating systems. Brickstone's mixed-use redevelopment includes 600,000 s.f. of first-class office space occupied together with 150,000 s.f. of prime retail space. Brickstone recently welcomed Five Below’s Corporate Headquarters into the most authentic collaborative work space in the City of Philadelphia.

Present Brickstone ownership, functioning together since 1988, is comprised of eight principal partners. Brickstone offers a highly sophisticated transactional team, with decades of experience and direct, hands-on involvement in every project phase from conception to completion and thereafter, including site selection, entitlement and permitting, financing, construction management, leasing, and property management.

Speakers

  • More Speakers to be Announced

PHOTOS

Agenda

Time Activity
7:30 AM - 8:30 AM
Registration and Networking!
8:30 AM - 9:10 AM
Developing in Philadelphia
9:10 AM - 9:50 AM
How to Keep the Momentum Going
As We Get Deeper In The Cycle, How Can You Maximize Returns and Prepare For What's Next
9:50 AM - 10:30 AM
Evolution Of The Capital Stack
10:30 AM - 11:00 AM
More Networking!
Registration and Networking!
7:30 AM - 8:30 AM
Developing in Philadelphia
8:30 AM - 9:10 AM
How to Keep the Momentum Going
9:10 AM - 9:50 AM
As We Get Deeper In The Cycle, How Can You Maximize Returns and Prepare For What's Next
Evolution Of The Capital Stack
9:50 AM - 10:30 AM
More Networking!
10:30 AM - 11:00 AM

Venue/Parking

The Lits Building - Five Below Headquarters
701 Market Street
Philadelphia, PA 19106

Floor: 6th floor

Parking Information:
Parkade on 8th & Filbert - Rates below
- Early Bird Special (Enter before 10AM, exit by 7PM): $14
- Up to 1 hour: $10
- Up to 90 mins: $14
- Up to 2 hours: $17

733 Chestnut (Entrance on 800 Chestnut St.) - Rates below
- Early Bird Special: $14
- Up to 90 mins: $20
- Up to 24 hours: $30

8th & Market Streets (Entrance on 10 S. 8th St.) - Rates below
- Early Bird Special: $16
- Up to 90 mins: $20
- Up to 24 hours: $30

Get Directions

Why This Matters

While developments in Center City seem to have slowed down, surrounding neighborhoods have shown no sign of slowing, with mixed-use proposals coming in left and right.
 
As multifamily continues to flourish, office, specifically class-A has struggled to fill vacancies. What is holding back Philly’s office market as unemployment rate continues to drop?
 
As our city continues to spread out with more neighborhoods experiencing an increase in developments. Northern Liberties continues to lead the way with another mixed-use development planned across from the Piazza.
 
Join us and our all star line up of industry experts as we dive into these topics and more! 

Please send event questions and topic/speaker recommendations to Noah Ackerman at noah.ackerman@bisnow.com