Jeremy Ward’s Post

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

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The classic beauty of brick is among many of the reasons to choose brick. Learn more about this #brickbenefit - https://lnkd.in/gZCD5fp3. Brick Benefit Showcase: US Brick answers the question Why Brick? https://lnkd.in/gfjENpri

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🚉 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!

Commercial Space near New Orleans CBD

Bellevue, Washington, might very well be the envy of all U.S. office markets at the moment. The most prestigious and amenity-rich office buildings are experiencing high demand from tenants. Companies like Pokémon and ByteDance (the parent company of TikTok) are significantly expanding their physical office footprints in Bellevue. Additionally, other significant deals involving notable companies are also in progress. This expansion demonstrates a strong commitment to in-person work as the primary mode of operation at these companies, and reflects a desire to provide their employees with a superior experience. Furthermore, there is a rumor that one of the 'Magnificent Seven' tech companies may soon announce a major office expansion in Seattle, while another is reportedly shifting from 3 to 5 days per week of in-person work. There is still a tremendous amount of availability in the market in both Bellevue and Seattle; however, these recent and pending developments will certainly have a positive impact on the local economy and potentially on labor market dynamics.

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Not for or against this idea. Just thinking it through from a #marketdemand perspective. Is #induceddemand the driving theory behind this proposal? If #visitor-driven, how will location relate to where most downtown #hotel rooms are located (ie. towards #UnionSquare)? We’re working on #downtown #masterplans across the #unitedstates right now, so interested to see how this evolves and if it’s a model for other cities. #retailresilience #communitydesign #economicdevelopment #downtownrecovery #sanfrancisco #retail #foodandbeverage

Xebec Announces New Industrial Development in Puget Sound Dallas-based industrial developer, Xebec, kicks off its first venture in the Puget Sound market with a groundbreaking project in Fife, Washington. This strategic location, merely a few miles from the Port of Tacoma, will see a 111,500 SF Class A industrial building rise on a 6.52-acre site. Previously zoned as Community Commercial, Xebec successfully rezoned the area to Industrial to cater to warehousing needs. Arya Ghazizadeh, Xebec's Puget Sound market leader, highlighted Fife's prime position for warehousing, given its proximity to the Port of Tacoma. Jay Soni, Xebec's President, emphasized the location's accessibility to major transportation routes and ports. With a completion target of Summer 2024, this development addresses the surging demand for industrial spaces, catering to businesses aiming to expand in Puget Sound. #smartcap #redmond #kirkland #bellevue #fife #industrial #expansion #portoftacoma #southend #development