Posts by McGowan Corporate Real Estate Advisors
Renew Early: Avoid Steep Rent Hikes in Philadelphia’s Thriving Industrial Market
Philadelphia’s industrial real estate market is booming, ranking third nationwide for sustained rent growth among major markets. Over the last five years, rents have soared by 57.6%, far exceeding the national average of 41.7%. For tenants, this rapid growth means waiting to renew a lease could have serious financial consequences. Consider a tenant leasing a…
Read MoreIndustrial Real Estate 2024: Shifting Demand, Rising Vacancies, and Regional Hotspots
In 2024, the industrial real estate market is navigating a period of adjustment marked by increased vacancy rates, cooling rent growth, and shifting tenant priorities. National vacancy has reached 6.4%, reflecting a broader rise in available space as new construction meets moderated demand. With annual rent growth slowing to 3.9%, tenants in key industrial hubs…
Read MoreKevin McGowan speaks at the NAIOP I.CON East Conference
Insights from the I.CON East Panel on Regional Labor Market Trends Date: June 6, 2024 Event: I.CON East in Jersey City, New Jersey Last week, I had the opportunity to speak at the I.CON East conference in Jersey City. This event brought together industry experts to dissect the labor market trends impacting the Eastern Pennsylvania…
Read MoreMcGowan quoted on front page of Lehigh Valley Business Journal: The boom in online shopping is driving the rising demand for industrial real estate in the Lehigh Valley.
By: Paula WolfNovember 15, 2021 10:21 am Thanks to the boom in e-commerce, the Lehigh Valley industrial market is even busier than it was prior to the pandemic. That’s the verdict of Kevin McGowan, president of McGowan Corporate Real Estate Advisors, who just released an update on industrial sales activity in the region. The report, using data from CoStar, revealed that sales volume in the…
Read MoreMcGowan Corporate Real Estate Advisors is now licensed in Ohio
McGowan quoted on the redevelopment of former Easton, PA Pfizer plant
Demolition continues at the old Pfizer Plant Demolition work continues at the old Pfizer plant Tuesday in Wilson. For decades, the property was known as Pfizer Corp. and later Harcross Pigments. It was most recently home to Venator Materials, a corporate spin off of Texas giant Huntsman Corp. (Rick Kintzel/The Morning Call)1 / 27The sights and…
Read MoreMcGowan quoted in Philly Inquirer: U.S. Steel’s once-mighty Fairless Works gets epic makeover to become e-commerce warehouses
by Katie Park and Jacob Adelman, Posted: November 7, 2020 NorthPoint Development wants to redevelop the expansive, environmentally degraded Bucks County steel plant site once known as Fairless Works into a massive warehouse-and-distribution campus, making it the region’s latest obsolete industrial property to be eyed for a makeover for the e-commerce age. The Kansas City, Mo.-based developer plans to complete its…
Read MoreMcGowan represents Maine International Cold Storage Facility (“MISCF”)
McGowan Corporate Real Estate Advisors is exclusively representing Amber Infrastructure and Treadwell Franklin Infrastructure Capital to seek a Lessee for the planned Maine International Cold Storage Facility. McGowan is also working in close partnership with Sterling Solutions (Nick Pacitti) to find customers and/or an operator for the planned MISCF on Commercial Street in Portland, Maine.…
Read MoreMcGowan quoted in today’s Philadelphia Inquirer
Philly-area industrial leases approach pre-pandemic levels on e-commerce demand: Report by Jacob Adelman, Updated: May 29, 2020 – 5:30 AM But demand for space around population centers like the Philadelphia area isn’t being driven only by online grocers, said Kevin McGowan of McGowan Corporate Real Estate Advisors in Allentown. Distributors of all sorts of merchandise…
Read MoreMcGowan quoted in Multi-Briefs “How COVID-19 might impact the commercial real estate market?”
From the article by @Territoryone http://exclusive.multibriefs.com/content/how-covid-19-might-affect-the-commercial-real-estate-market/business-management-services-risk-management “Office is likely to be hit hard with the work from home trend that is likely to persist beyond any shutdown,” says Kevin McGowan, president of McGowan Corporate Real Estate Advisors. And it doesn’t help that a lot of office buildings embraced the open-concept floor plan. “We think the offices…
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