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Pennsylvania

New York

Commercial real estate in New York City has its ups and downs. Sales in all five boroughs have decreased because buyers are waiting for decreased prices. High rates have contributed to Manhattan office vacancies although there is a strong leasing market. There is still a lot of new construction, increasing the supply of commercial real estate and pushing some prices down. High end apartment construction rates have increased, though lease signing has decreased. According to Market Watch, this might be the “ninth inning” for commercial real estate. Prices are high currently, but investors should watch for a downturn in which prices even out.

Other experts disagree with this assessment. There is higher demand than supply still and competition in real estate investing remains fierce. The tech industry plays a role in continued property demands and that growing market does not show signs of slowing down.

Factors that contribute to the commercial real estate market include population demographics, wages, and customer interests. Recent trends show that most consumers prefer shopping at discount stores rather than high-end shops. Overall businesses do okay, though expenses are high.

Connecticut

New Jersey

Commercial real estate in New Jersey has a strong market, particularly for industrial properties. Industrial vacancy rate is at an all time low while rent is at an all time high. Areas that have easy access to public transportation, such as along the New Jersey Turnpike, are popular real estate locations. The office market profitability is tied to the technological sector. New Jersey has a successful warehouse and distribution market, though industrial construction is still behind demand.

The retail market is stable in New Jersey and shops still are profitable despite the growing popularity of e-commerce. E-commerce adds to the demand for industrial properties, particularly smaller buildings. According to My Central Jersey, there are opportunities for growth with multipurpose buildings.

Commercial real estate is currently a successful market for investors in New Jersey.


Pennsylvania

Pennsylvania

There is a lot of confidence in the industrial construction market. Pennsylvania has low vacancy in commercial real estate as well as high rents. According to the Philadelphia Business Journal, Philadelphia is doing particularly well with commercial real estate. 2017 saw a lot of new construction including development along the Delaware River.

There is still high demand in Philadelphia for office space. It took less than a year to completely fill the FMC Tower. Of course, like many major cities, there is a challenge finding affordable housing. Yet Philadelphia attempts to rise to the occasion by allowing developers to add levels past what the project was zoned for in order to make some units less expensive. Multi-family properties have become more popular as well.

Connecticut

Connecticut

According to Offices.net, the Connecticut commercial real estate market is driven by office-based industry such as finance, insurance, and technical services. However, the commercial real estate market is slow to recover from the economic recession ten years ago. There will be many office vacancies when Alexion Pharmaceuticals moves its headquarters from New Haven to Boston in mid-2018.

Despite the slow recovery process, there are market hopefuls claiming that the Connecticut market is showing its strength. Commercial properties are still being developed and bought.