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🚉 From the Tracks 🎙️ Join Dan Ritterman and me (of Tactix Real Estate Advisors) live for Episode 4️⃣6️⃣ of The R5 Connection #podcast, during which we discuss the following #news stories affecting #Philly #commercialrealestate: 1) Ballin’ at The Battery WOW! Talk about Electric. Jake Blumgart recently informed readers of The Philadelphia Inquirer about Ballers, the brilliant new #experiential #retail add to The Battery — Greater Center City’s ultimate lifestyle campus along the banks of the Delaware River. Ballers is the 45k+ sf, $10MM+ indoor sporting facility now under construction at the former power plant, which will include a massive turf field, dedicated squash, padel, and pickleball courts, golf simulators, and other hospitality and entertainment improvements. David Gutstadt — yes, that David Gutstadt, the creator of Fitler Club — is leading Ballers’ executive and operations team. 2) Shifting #CRE Plates on Avenue of the Arts Philadelphia Business Journal, and Jake Blumgart and Ryan Riggs (among others) in The Inquirer have written on the impacts of the sudden closure of University of the Arts, which follows on recent shuttering of Cabrini College, Delaware College of Art and Design, and the degree programs at Pennsylvania Academy of the Fine Arts. The UArts #CenterCity real estate portfolio is substantial — and prominent. And absolutely certain to attract massive interest among a wide band of opportunistic investors. 3) US Office Fit-Out Cost Increases are Moderating Andy Peters recently shared in CoStar News the results of a recent multi-market survey of year-over-year changes in #design and #construction costs for US #office fit-out projects. Mercifully, the composite for metro #Philadelphia reflect costs that are just slightly higher than 2023. What a relief! BUILDING WATCH: #Publicservice award of the week is pinned on Ximena Conde, for publishing (in The Inquirer) news that Southeastern Pennsylvania Transportation Authority (SEPTA) is in process of repealing its four-year+ waiver on parking fees at #SEPTA regional #rail lots and several garages. Can we spell institutional “tin ear?” SEPTA regional rail ridership has not returned to anywhere near pre-pandemic levels — despite this concession. Why, then, take public steps now to increase the barrier to adding ridership? 📣All aboard! Exis Global #tenantrepresentation

Iconic Sign History: Location: Scranton, Pennsylvania Find it at: Downtown Scranton Year put up: 1923 You probably associate Scranton with "The Office" more than with innovation, but this quiet Pennsylvania city was once a pioneer of embracing a groundbreaking new technology called electricity. When Scranton called itself "the Electric City," it wasn't exaggerating. In the 1880s, it was one of the first cities to have electricity and to use electric-powered streetcars. The sign was put up in 1923 to boast these accomplishments, and it used 1,200 lightbulbs just to show the rest of the world how far into the future they really were. As you've probably guessed, the city didn't continue leading the way in innovation during the 20th century, and its iconic sign was actually turned off for several decades. However, it was revitalized in 2004 and then taken down and replaced with an LED sign in 2014. #signage #signagesolutions #sign #signs #signcompany #signindustry

What’s in a name? ● Tishman Speyer just unveiled its renaming 666 Third Avenue, 6 Grand Central. ● 452 Fifth Avenue is now 10 Bryant Park. ● Taconic Partners's new development, originally 2 Hudson Street, is now One Grand. ● 22 Vanderbilt, one of today's most sought after buildings in Manhattan, was 335 Madison for years. To me, a lot is in a name. There have been studies that show people named Jack are four times more likely than people named Phillip to live in Jacksonville, and that people named Georgia are twice as likely to move to Georgia compared to other names. In 1990, Dennis was the 40th most common male name in the U.S., yet if your name was Dennis, you were almost twice as likely to become a dentist. Studies also found that in randomized, controlled experiments, people help others with similar names, buy products that match their initials, and are attracted to dates who share their initials. I married someone that shares the same name as me!!! Because there is a push to be near Grand Central, having "Grand" in your building's name helps. Also, who wouldn't want to work near a park? There is now 1, 3, 5, 7, and 10 Bryant Park, instead of all their Sixth Avenue addresses. X Bryant Park sure beats X Sixth Avenue. Naming (and renaming) buildings is a fun aspect of real estate. It's a lever owners and agents can pull to rebrand their building and change the identity of the asset. Given how strongly humans associate with names, I think it's significant. #commercialrealestate #realestate #development #officespace

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The common theme continues across the river .... A recent NY Post article shares how trophy spaces in New York City are experiencing a shortage of available spaces. As businesses adapt to the changing landscape, securing top-tier office space is becoming increasingly competitive on BOTH sides of the Hudson. Why are tenants willing to pay the premium to secure Trophy Spaces? - Location - Quality Renovations - Amenities and Creative Services (more on this later) Building that can provide all 3 categories are proven to have success in securing tenants and driving employees into the office. #🏆OfficeSpace #CBRE #HudsonRiver #Quality #CRE NYC's best Class A offices are already running out of space (nypost.com)

In this seminar, design professionals, general contractors, owners or facility managers will gain a thorough understanding of flexible spaces using automated operable partitions. We will compare and contrast solid and glass partitions, understand the acoustics in flexible spaces and cover structural needs, cost and life cycles. Click the link to learn more. https://conta.cc/3RT4mtE

🚉 From the Tracks Episode 46 of The R5 Connection with me and Gary Lozoff is now live!l On this episode, we discuss the following #news stories affecting #Philly #commercialrealestate: 1) Ballin’ at The Battery Talk about Electric. Jake Blumgart recently informed readers of The Philadelphia Inquirer about Ballers, the brilliant new #experiential #retail add to The Battery — Greater Center City’s ultimate lifestyle campus along the banks of the Delaware River. Ballers is the 45k+ sf, $10MM+ indoor sporting facility now under construction at the former power plant, which will include a massive turf field, dedicated squash, padel, and pickleball courts, golf simulators and other hospitality and entertainment improvements. David Gutstadt, the creator of Fitler Club, is leading Ballers’ executive and operations team. 2) Shifting #CRE Plates on Avenue of the Arts Philadelphia Business Journal, and Jake Blumgart and Ryan Riggs (among others) in The Inquirer have written on the impacts of the sudden closure of University of the Arts, which follows on recent shuttering of Cabrini College , Delaware College of Art and Design, and Pennsylvania Academy of the Fine Arts Arts. UArts’ Center City real estate portfolio is substantial — and prominent. And absolutely certain to attract massive interest among the usual opportunistic investors. 3) US Office Fit-Out Cost Increases are Moderating Andy Peters recently shared in CoStar News the results of a recent multi-market survey of year-over-year changes in #design and #construction costs for US #office fit-out projects. Mercifully, the composite for metro #Philadelphia reflect costs that are just slightly higher than 2023. What a relief! BUILDING WATCH: #Publicservice award of the week is pinned on Ximena Conde, for publishing (in The Inquirer) news that Southeastern Pennsylvania Transportation Authority (SEPTA) is in process of repealing its four-year+ waiver on parking fees at SEPTA regional rail lots and several garages. Can we spell institutional “tin ear?” SEPTA Regional ridership has not returned to anywhere near pre-pandemic levels — despite this concession. Why, then, take public steps now to increase the barrier to adding ridership? 📣All aboard!

Building your balanced practice means finding the right model, products, and support to go further, faster. That's what advisors have come to expect at MassMutual Puerto Rico.

Iconic Signs: Location: Scranton, Pennsylvania Find it at: Downtown Scranton Year put up: 1923 You probably associate Scranton with "The Office" more than with innovation, but this quiet Pennsylvania city was once a pioneer of embracing a groundbreaking new technology called electricity. When Scranton called itself "the Electric City," it wasn't exaggerating. In the 1880s, it was one of the first cities to have electricity and to use electric-powered streetcars. The sign was put up in 1923 to boast these accomplishments, and it used 1,200 lightbulbs just to show the rest of the world how far into the future they really were. As you've probably guessed, the city didn't continue leading the way in innovation during the 20th century, and its iconic sign was actually turned off for several decades. However, it was revitalized in 2004 and then taken down and replaced with an LED sign in 2014. #sign #signs #signcompany #signmaker #signservice