The Amazon Effect
Want to get a jump-start on upcoming deals? Meet the major Philadelphia players at one of our upcoming events!
CBRE VP Michael Hines sees e-commerce having a tremendous effect on the industrial scene, citing a survey by Forrester Inc that predicts a 62% increase in consumer spending by 2016. (That means the newest multifamily amenity required will be closet space.)
It's just one of the big trends we'll be talking about at our Phildelphia Industrial Real Estate Summit Dec. 12 at the Rittenhouse. Mike, one of our panelists, points to six new, 1M SF Amazon warehouses in the Eastern US (four of which his team arranged sales for) as a sign of the times. He'll also talk about the "creeping capital" trend, as a lack of product in gatewat industrial zones like North Jersey means investors are venturing more to non-gateway sites in South and Central Jersey and Eastern PA. (Both terrific places to get world-class sandwiches.)
CRBE held its own forecast Thursday, peering into four sectors. Of course, it had a lot to work from: The firm's been involved in 2,100 market transactions (including sales, leasing, valuation, and appraisal) over the last nine months in Greater Philadelphia, and it got even busier thanks to its September merger with retail firm FAMECO. Among the topics that moderator Maureen Anastasi and panelists Lizann McGowan (multifamily), Scott Miller (office), and CBRE FAMECO's Scott Famous (retail) touched on were lessons learned during the Great Recovery, the role of technology in shaping it, and the rise in popularity of lifestyle centers among both urban and suburban Millennials.