September 21, 2016 |
Driven by demand, a younger clientele, and a challenged retail landscape, restaurants are powering many of the region's real estate deals. One in four retail real estate transactions these days is for a spot to eat and drink. From trendy, chef-driven venues in Center City to outposts of national brands at suburban shopping centers and malls, restaurants have become go-to tenants, filling new spaces and former anchor stores and providing landlords with rents that are often higher and more reliable.
August 13, 2016 |
Macy's announced it is closing 100 more stores by early 2017, as the department store giant shifts its attention and resources to an e-commerce and digital strategy. The closures follow the 38 Macy's closing from this past spring, including the 90,000-square-foot store at the Suburban Square shopping center in Ardmore. Macy's has not said which stores will be closed, or precisely when. But analysts predict it will be at the end of the year in time for the holidays, and for year-end store-closing clearance sales.
August 12, 2016 |
Edward T. Gay Jr., 60, of Center City, lead broker in the firm of George Gay Real Estate Inc., died Thursday, Aug. 4, of respiratory failure at Penn Hospice at Rittenhouse. Known to friends as "Ted," Mr. Gay was born in Philadelphia and grew up in Willow Grove. He graduated from Upper Moreland High School in 1974 and the University of Pittsburgh in 1979 with a bachelor's degree in economics and political science. From age 16, he was employed in the business founded by his grandfather in 1923 - first as a gofer and later as the broker in charge of others in the office at 2029 Walnut St. in Center City.
August 10, 2016 |
Philadelphia's nightclub scene may soon be rocked by a 24-year-old dance-music impresario from Connecticut. And his mother. James and Micheline DeBerardine are transforming an aged office building near 12th and Vine Streets into what they say will be the city's biggest and most technically sophisticated dance venue. The club, to be called NOTO - short for "Not of the Ordinary" - is part of the DeBerardines' plans for Vine Street just north of Chinatown, which also include 99 new apartments.
August 2, 2016 |
A celebration of life will be held Wednesday, Aug. 3, for Russell E. Miller 3d, 90, formerly of Clifton Heights, a Realtor, radio show host, and writer, who died July 13 of a heart ailment in a hospice in Fort Myers, Fla. He had moved to Fort Myers 12 years ago. Born to Florence and Russell Miller Jr. in Philadelphia, Mr. Miller grew up on a farm in Ambler. He was self-educated, and, as a result, he became something of a Renaissance man, his family said. He served in the Coast Guard during World War II. Afterward, he built a career as a Realtor, and with his wife, Winifred V. Miller, he taught lawyers about real estate and estate planning.
July 30, 2016 |
James Uibel, 54, of Collingswood, a former real estate appraiser, died of colon cancer Monday, July 25, at Samaritan Healthcare and Hospice in Mount Holly. Born in Gloucester City, Mr. Uibel graduated from Gloucester City High School in 1980, earned a bachelor's degree in theater arts at Rutgers-Camden, and in the late 1990s studied finance at Temple University. From 2005 until illness forced him to retire in 2015, Mr. Uibel was a self-employed appraiser, working from a home office, said his spouse, Michael McKeown.
July 30, 2016 |
Despite temperatures stuck in the 90s and thousands of visitors in Philadelphia for the Democratic convention this week, the real estate industry is, so far, reporting business as usual. The South Philadelphia neighborhoods surrounding the Wells Fargo Center, where the convention is being held, appear to be affected the most. "We have postponed all neighborhood [house] showings until next week," said Barbara Capozzi, of Capozzi Real Estate & Insurance in the 3300 block of South 20th Street.
July 11, 2016 |
Summer is not the easiest time of the year to sell a house, or to buy one, for that matter. Or is it? "I often tell sellers the best time to list is when they are ready," said Chris Somers, broker/owner of Re/Max Access in Philadelphia's Northern Liberties neighborhood. "If it happens to be the summer, that is fine, as the market is still very busy year in and year out," he said. Despite the arrival of summer, Somers said his office has been "super busy. " Not as busy as the spring, "but you certainly do not want to wait to get your property sold if you are ready now. " "And there are buyers now," he emphasized.
July 10, 2016 |
The venerable Counselors of Real Estate is a group of 1,000 individuals, invited to join, and considered the crème de la crème of the industry. Every year, the counselors come up with a list of the top issues facing real estate, and 2016-17 is no exception. Here is some of what the counselors are predicting about the residential real estate market. Age matters. Millennials have overtaken the baby boomers in sheer numbers, but both groups remain substantial real estate consumers.