Peggy Gallagher – PG Commercial Real Estate – Commercial Realtor Montgomery County, PA and Greater Philadelphia Region

Leasing vs Purchasing Office Space in the Philadelphia Region
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Leasing vs Purchasing Office Space in the Philadelphia Region

Corporate Office Space

Leasing vs Purchasing Office Space in the Philadelphia Region

Your business has to operate out of somewhere, and when it's time to look for dedicated commercial space for your company, you'll have a lot of decisions to make. And one of these decisions is whether to lease or purchase your office space. Both options come with their own set of advantages and disadvantages, so you'd be well advised to do your due diligence and conduct a little research before deciding which option works best for your company. So, the question remains: is it better to lease or purchase office space in Philadelphia? Understanding the Pros and Cons of Leasing Commercial Office Space Commercial real estate investors might assume that purchasing office space is the better way to go, but leasing office space comes with its own set of pros and cons, including the following. Pros of Leasing Office Space No down payment required. As with any other types of [...]

By Peggy Gallagher|2019-06-03T13:51:21-04:00November 9, 2018|Corporate Office Space|

The New World of Work

Collaborative office space was originally conceived by Steve Jobs for his new Pixar headquarters in Emeryville, California. He believed employees who work independently are less creative than those who work together. So he designed Pixar to provide chance encounters, giving employees the opportunity to connect, collaborate, and create. As more tech companies adopted this approach, they observed and experienced the extensive benefits of collaborative office space: Reduced Footprint. Traditional office spaces are based on 250-300 square feet per person. Employees in collaborative space sit at benches and managers use workstations, thus reducing space needs by up to 40 percent. Google Space. Google took collaborative space to the next level. Perks such as gourmet food, massages, and fitness facilities are bait to attract and retain top talent. This minimizes the need for and cost of staffing companies. Work/Life Balance. Google Space has become so attractive to employees that they don’t want [...]

By Peggy Gallagher|2019-08-22T10:25:55-04:00May 10, 2016|ITRA Global|

Company Culture: Center City v. the Burbs
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Company Culture: Center City v. the Burbs

Corporate Office Space

Company Culture: Center City v. the Burbs

If your company is looking to make a move one of the biggest things to consider is location, location, location. Where your company sits is huge in not only determining the type of people and clients you attract, but it also helps define your brand and how the world sees you. There are many factors to consider. Do you need to be near the port, near the turnpike, near potential employees, or your customers, near your home, etc. If you are a fancy tech start up that wants cutting edge programmers, you want to have stylish offices in the heart of Center City. The Work where they Live Strategy. And, where your employees can grab a coffee at Starbucks on their break, get sushi for lunch, and go out for a beer with their friends after work, all within a mile or so of your location. Central Business District of [...]

By Peggy Gallagher|2016-05-10T13:30:36-04:00May 10, 2016|Corporate Office Space|

Things to Consider When Getting Ready to do a Mass Hire
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Things to Consider When Getting Ready to do a Mass Hire

Corporate Office Space

Things to Consider When Getting Ready to do a Mass Hire

Is your company growing? Will you soon need to bring on a number of new people? That’s fantastic! But are you prepared for everything that comes with doing a big round of hiring? Below are some practical tips and advice of what to consider when getting ready to expand your company talent. First and foremost if you are getting ready to do a mass hire it is likely that you will need to look at larger office locations to accommodate your growth. There are many factors that will need to be considered when making such a decision and most of them will depend on the amount of people you plan to bring onboard. Parking If your new location is not in a metropolitan area where most people commute via public transit you will need to consider parking availability for your new hires. Availability of on-site parking or street parking are [...]

By Peggy Gallagher|2016-05-10T11:44:05-04:00May 10, 2016|Corporate Office Space|

Transform Your New Office Work for Your Business
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Transform Your New Office Work for Your Business

Corporate Office Space

Transform Your New Office Work for Your Business

Work to Live. Live to Work. What is your business philosophy? No matter your motto why not create a space that will make work seem a little less like work and more a place you can excel at your professional. Today’s commercial real estate trends are no longer looking for only traditional office space, which is readily available, but rather to find the unique office spaces, buildings and locations that will make a statement with a redesign. Oh, and for those that continue to lease and purchase traditional office space they too are reworking the work space into something more engaging. What do we mean exactly? Since pictures speak 1,000 words let us show what some companies are doing to make their office space more appealing to employees. Not only do they look neat but many companies will contract with high end corporate interior designers to focus on elements of [...]

By Peggy Gallagher|2018-03-09T14:18:36-05:00September 23, 2015|Corporate Office Space|

Reasons to Keep Business in Philadelphia
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Reasons to Keep Business in Philadelphia

Philadelphia

Reasons to Keep Business in Philadelphia

Choosing a location for your business is a big decision. Not only do you have to have a successful business model but also the staff to support your endeavors. Often times when working with clients looking to lease or purchase office space we discuss more than just the building requirements. Access to transportation, vibrant communities and many other factors that impact employee happiness. As a Philadelphia Commercial Real Estate Broker & Tenant Rep. we LOVE Philadelphia. The History, People, Culture, Charm and the character of each of the towns that make up the vast Philadelphia Suburbs. Here are a few Fall Events that happen in September that are a few reasons our clients and their employees love to live and work in the Greater Philadelphia area. Scarecrow Festival in Peddler’s Village in Bucks County Kennett Square Mushroom Festival in Chester County The Franklin Institute in Philadelphia County - Catch the Lego Exhibit before October! [...]

By Peggy Gallagher|2018-04-10T12:03:13-04:00September 15, 2015|Philadelphia|

CLASS A and B Submarkets in Philadelphia – 1st Q 2015

CLICK HERE to Download a Printable PDF Version CLASS A Office SUBMARKET STATISITICS 1st Quarter 2015 Existing Inventory Vacancy YTD Net YTD Under Quoted Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates Montgomery County Conshohocken 24 3,341,039 299,048 308,775 9.2% 109,771 0 0 $31.54 Ft Washington Spring House 20 1,894,472 558,205 563,740 29.8% (69,745) 0 0 $22.93 Horsham/ Willow Grove 38 3,881,400 207,580 207,580 5.3% (4,966) 0 0 $23.99 King of Prussia Wayne 90 8,873,293 1,249,845 1,346,631 15.2% 2,926 0 0 $27.53 Plymouth Mtg Blue Bell 46 3,883,293 504,259 521,105 13.4% 123,163 0 0 $24.38 Philadelphia County Market Street East 7 4,124,862 342,798 355,673 8.6% (31,950) 0 0 $24.12 Market Street West 43 27,120,333 2,786,299 2,868,131 10.6% 7,412 0 2,166,682 $30.64 Southern NJ South Burlington County 36 3,304,682 165,419 165,419 5.0% 18,882 0 0 $15.39 South Camden County 10 [...]

By Peggy Gallagher|2015-07-17T11:40:47-04:00July 1, 2015|Philadelphia|

Renegotiating a Commercial Lease
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Renegotiating a Commercial Lease

Commercial Real Estate

Renegotiating a Commercial Lease

When renegotiating your lease it can be very helpful to have an objective, conflict free, tenant representative on your side. The tenant rep will have the appropriate knowledge and experience to balance the scales in your favor during the renegotiation with your landlord. They will also disclose who they represent in the potential lease renewal. And after reviewing your current lease and also current market conditions they can estimate, whether or not the prices in the market indicate the current lease rate is above market or in line with the market. The upper hands that most landlords have when coming into a renegotiation of a lease are an astute knowledge of the office market and the understanding of the real cost of changing/moving offices. By bringing a tenant rep into the equation to represent you, you can be educated on the right assumptions to use, realistic assumptions concerning the cost [...]

By Peggy Gallagher|2019-01-07T14:16:15-05:00June 15, 2015|Commercial Real Estate|

Office Market Trends Philadelphia Region By County

May 2015 - Montgomery County, Pennsylvania We’ve come a long way from 2010 with high vacancies and low rents. Today in Montgomery County Pennsylvania the trend line shows more demand for Class A Office Buildings than for the category of all office building types. Comparing Trend lines in the graphs below you can see a clear difference between the trend line for the average Vacancy Rate 11.8% and the Rental Rate of $26.10 per square foot per year plus electric, versus the trend lines for the averages for all Office, A,B,C. When all types of Office Buildings are added to the survey the trend line of the averages changes to a Vacancy rate of 12.1% and a Rental Rate of $23.32 per square foot per year plus electric. Of course there are ten times as many buildings in this survey of all different sizes and qualities. The survey of the [...]

By Peggy Gallagher|2015-07-17T11:31:19-04:00May 31, 2015|Philadelphia|

Suez & Panama Canals, Philadelphia Region, and demand for Commercial Real Estate?

Is there a relationship between Suez & Panama Canals, Philadelphia Region, and demand for Commercial Real Estate? At C.R.E.W. Philadelphia’s Past Presidents’ Series Tuesday, May 12, 2015 held at the Philadelphia Sheraton Downtown a panel of amazing experts shared ideas and opinions to help the audience better understanding the linkages. CREW Philadelphia and its organization partner, Liberty Property Trust (LPT), and all the panel participants did a fantastic job. Here is a recap of my notes from the event: […]

By Peggy Gallagher|2015-07-22T10:27:16-04:00May 15, 2015|Philadelphia|

About Peggy Gallagher