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Commercial Real Estate Archives

Finding success in a new trend for commercial real estate


Most people are familiar with traditional hotels and high-rise luxury apartment complexes dominating the landscape, particularly in urban areas. But these types of large commercial properties can saturate a market when the supply outweighs the demand for this type of commercial lease. These commercial properties often cannot adapt fast enough to the changing markets. Now, though, there is a lesser-known commercial property finding much success in these markets.

What are industrial development loans and how can they help me?


Seeing the need to promote economic development, such is in parts of the Philadelphia area that could use some economic revitalization, the state has created the Pennsylvania Industrial Development Authority as a source for government-backed capital that aspiring businesspeople can access to fund their businesses.

Understanding the complexities of commercial real estate


Real estate opportunities in commercial properties can be full of promise; however, it can present some challenges, and sometimes a planned acquisition can be more difficult than expected. There is a lot to know when negotiating a commercial real estate transaction so it helps to be familiar with as much of the process as possible. There are a number of important considerations to take into account during the commercial real estate process.

Commercial property acquired in Philadelphia during boom


Commercial real estate projects can be exciting growth opportunities for individuals, businesses and communities. While these can be very lucrative and beneficial, they can also be complex project with many working parts. This often means taking various steps to ensure the process goes as intended.

Developer, foes settle dispute about Rittenhouse Square tower


According to news reports, the last undeveloped parcel in Rittenhouse Square in Philadelphia will see the construction of a 47-story tower thanks to the settlement of a dispute between the developer and neighbors who opposed the original concept of a 55-story tower. Details are still pending, but the basic agreement is said to allow completion of commercial real estate development in the Square.

New owner chosen for redevelopment of old Germantown Y


Philadelphia has many old buildings that have outlived their original use and now stand vacant. One of the most well-known of these structures is the Old Germantown YWCA. The building has stood vacant for over a decade, but a recent decision of the Philadelphia Redevelopment Authority may restore life to the building as a mixture of residential and commercial real estate.

City Council considers bill to stop transfer tax dodgers


Every sale of real estate in Pennsylvania is subject to a transfer tax based on the sale price that must be paid when the deed is recorded. Municipalities are allowed to add their own transfer tax to the 1% levy by the state. Philadelphia adds 3% to the state tax and is estimated to charge the highest transfer tax of any major U. S. city. For years, however, buyers and sellers of commercial real estate have used a number of measures to escape the full burden of the tax. Now, the City Council is considering a bill to end these practices.

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