Posts Tagged ‘Philadelphia Real Estate Council’
Back in October, I had the pleasure of attending the Philadelphia Real Estate Council‘s fourth quarter round table, where the topic was a departure from the group’s usual fare (capital markets, urban development opportunities, valuation). The subject of this meeting was “Social Media and Real Estate.” Three guest speakers shared their experience with social media, its challenges and opportunities. The underlying question throughout this conversation was this: when it comes to commercial real estate (in all of its forms), what is the ROI for social media marketing?
I’ve tackled this subject before, here on the Llenrock Blog, and I’m going to save us all a lot of hand-wringing by saying this: It is impossible to know the ROI for social media marketing, in commercial real estate or anything else.
So let’s stop talking about social media in these terms. It’s difficult to calculate the value of social media for the same reason it’s difficult to calculate the value of any marketing/advertising. There’s a lot of guess work, but we know when it works. And that’s the point all those people in the social media business (myself included) are trying to make: even if we can’t make a direct connection between a company’s online presence and annual income, a connection still exists. Read the rest of this entry »
10. CBD Lodging (2012 average cap rate: 8.58%)
9. Flex Industrial (8.30)
8. Suburban Office (7.91)
7. Industrial (7.75)
6. Neighborhood Strip (7.66)
5. CBD Office (7.65)
4. Community Mall (7.60)
3. Regional Mall (7.28) Read the rest of this entry »
Kevin McGowan, CCIM, SIOR
Newmark Knight Frank Smith Mack
Kevin’s primary focus with Newmark Knight Frank Smith Mack is in the industrial market within the Greater Philadelphia region, with a strong concentration in the Lehigh Valley and Central Pennsylvania. He has worked in the industrial market since 2004.
Kevin has been involved in hundreds of transactions that have included many land deals, industrial and office leases, and the sale of a number of leased investments. He was the driving force behind the creation of the first Newmark Knight Frank National Industrial Market Leadership conference call gathering over 70 industrial brokers, and he serves on the Newmark Knight Frank Industrial Market Leaders Executive Committee.
He was named one of nine international “CCIM rising stars” in July 2007’s CIRE magazine and last year was selected for Philadelphia Business Journal‘s “40 Under 40.” He is a member of numerous civic and professional organizations and has provided policy and advisory support for the Philadelphia Real Estate Council, the National Association of Realtors, and the Pennsylvania Association of Realtors.
Kevin is a native of Philadelphia. He attended St. Joseph’s Prep and Princeton University, where he earned a degree in politics. He received his MBA in management from New York University.
Q: How did you get your start in the business?
My father has been in the Commercial Real Estate business in Philadelphia for 45 years, however, I spent time working in New York on Wall Street immediately following college. Nine years ago, when I was 30, I met some people in the industrial real estate business who I liked and trusted and they taught me about the business. I completed hundreds of transactions and built up a client base as a result.
Q: How has your strategy changed as a result of present economic conditions? Have you expanded or narrowed your focus? Read the rest of this entry »
Last week, some of the Mid-Atlantic region’s top real estate minds converged for the spring meeting of the Philadelphia Real Estate Council (PREC). On the agenda was a topic I’ve explored a bit on this blog: the opportunities and challenges of resurgent neighborhoods. Central to this conversation were three areas in Philadelphia, all of which are in varying states of “resurgence.” These areas are North Broad Street (comprised of north Center City, some of North Philadelphia and the Temple University area), University City (easily the most mature of these three areas, with high occupancy and a thriving office market), and South Philadelphia’s Navy Yard.
North Broad, it seems from PREC’s discussion, still faces numerous political and economic obstacles in its resurgence, while University City is at the opposite end of the spectrum and thriving on commercial opportunities.
I’m most interested in the third area, a long-neglected former Navy property that’s finally seeing new life thanks to the efforts of Liberty Property Trust (LRY) and the Philadelphia Industrial Development Corporation (PIDC). Read the rest of this entry »
On Wednesday, Llenrock Group attended the quarterly meeting of the Philadelphia Real Estate Council. We had the pleasure of listening to two guest speakers, as well as several other prestigious members of the Philadelphia real estate world, as they weighed in on the important issues that are affecting development and commercial real estate in the city.