Peggy Gallagher – Page 2 – PG Commercial Real Estate – Commercial Realtor Montgomery County, PA and Greater Philadelphia Region

Hiring a Commercial Real Estate Agent

When looking for the right space for your company it is very important to consider all of the factors. You may be thinking what are the factors and how can I be sure that I don’t forget any. The great thing is that you don’t have to worry about that yourself. This is the job of your realtor. Your realtor will listen to all of your worries and parameters and use them to find the office space you want for your company. When working with a realtor your job is to know what you want so you can convey that clearly to them. Once your realtor understands what you want they will be able to find it for you and then get you the best price for it.

By Peggy Gallagher|2015-07-17T10:45:15-04:00April 15, 2015|Commercial Real Estate, Philadelphia|

Advantages Working with a Tenant Representative

When looking at an office space a realtor can provide you with a very strong advantage as opposed to looking on your own. A licensed realtor will know what information needs to be provided and what the selling agent could possibly do to make the property or office space seem like a better choice. A talented realtor will also know how to ensure you get the best price through negotiation and other things they have picked up through their experience. They will help you get what you want not only short term but long term as well. They will know about the materials the space is built from which will inform them of any problems you could have with the space or any problems that may already be present.

By Peggy Gallagher|2015-07-17T13:33:20-04:00March 17, 2015|Commercial Real Estate|

Philadelphia Welcomes Century 21 Department Stores

During the Philadelphia Business Journal Breakfast at the Hard Rock Cafe Natalie Kostelni interviewed Eddie Gindi of Century 21 Department Store. If you are from northern NJ or NYC chances are you have heard of or shopped at a Century 21. Philadelphia will now have its first location as the company expands outside the Metro NYC area as of October 28th 2014 at The Gallery on 821 Market Street, Philadelphia, PA. During the interview by Natalie we heard Eddie say how, ‘Century 21 listens, watches and pays attention to what the consumer wants and likes.’ It sounds like they deliver especially with discounts of 40-65% off. Understanding his customers, or as they call them ‘guests’, it is about the fashion and value. Their model offers fashion at a discount. Their stores are always evolving, the focus is on giving the customer what they want in the product and the store [...]

By Peggy Gallagher|2014-11-05T16:36:38-05:00October 22, 2014|Philadelphia|

Commercial Real Estate 2014 Mid Year Office Market Trends

By there I mean where the real estate values are increasing at a point above the measurement of the annual rate of inflation. The Consumer Price Index (CPI-U) has increased 2% for the past 12 months through July 2014. This percentage change year over year is a key indicator for the economy and a measure of inflation. By analyzing the national data – YES, we are there! Keeping in mind the real estate trends vary regionally and with the quality of the product. Looking at the global market and the Vacancy Rate – the CRE industry uses this to track trends and an indicator of the balance of supply and demand for office space. Here are a few of the findings in the national vs local office markets for Vacancy Rates and rent trends. Based on the Costar’s mid year review the national vacancy rates for leased and owner occupied [...]

By Peggy Gallagher|2014-11-05T16:34:43-05:00October 22, 2014|Commercial Real Estate|

Are we there yet? 2014 Mid Year Office Market Trends

Commercial Real Estate 2014 Mid Year Office Market Trends By there I mean where the real estate values are increasing at a point above the measurement of the annual rate of inflation. The Consumer Price Index (CPI-U) has increased 2% for the past 12 months through July 2014. This percentage change year or year is a key indicator for the economy. By analyzing the national data – YES, we are there! Keeping in mind the real estate trends vary regionally and with the quality of the product. Looking at the global market and the Vacancy Rate – the CRE industry uses this to track trends and an indicator of the balance of supply and demand for office space. Here are a few of the findings in the national vs local office markets for Vacancy Rates and rent trends. Based on the Costar’s mid year review the national vacancy rates for leased and [...]

By Peggy Gallagher|2014-09-09T13:24:08-04:00September 4, 2014|Commercial Real Estate, Corporate Office Space, Philadelphia|

Golf4Some Hit the Greens in 2014 – CREW

It was a joint CREW member effort in Fall 2013, and four gals reaped the rewards this summer, 2014. Debbie Keen, Director, Business Relationships for ADVANCED OFFICE ENVIRONMENTS, supported CREW’s charity last year by purchasing the golf package that Peggy Gallagher, PG Commercial, had donated to the CREW Charitable Luncheon in fall of 2013. Awesome foursome made up of Debbie Keen, Advanced Office Environments, Rebecca Udell, KSS Architects, Amanda Ryland, Remington Group Inc., and Peggy Gallagher, PG Commercial Real Estate. Had fun playing 9 plus 9 at WVCC this summer. The beneficiaries for the CREW Philadelphia Fall 2013 luncheon were Women’s Community Revitalization Project (“WCRP”) and CREW Network Foundation. Beneficiaries from 2013 Fall Luncheon: “Proceeds from the silent auction will be donated to this year’s (2013) luncheon beneficiaries: Women’s Community Revitalization Project (“WCRP”), which builds low income housing for women and families led by women; and CREW Network Foundation, which [...]

By Peggy Gallagher|2014-09-04T15:16:34-04:00August 31, 2014|Peggy's Travels, Philadelphia|

Finding Office Space in Philadelphia

Finding Office Space in Philadelphia Whether you are from the Philadelphia region, or not, when it comes to searching for commercial real estate office space it is not as easy as hopping on the web to do a search. Leasing or purchasing space needs to be seen as an investment with the opportunity for your business to grow, or make changes, without having to sell/move again for maybe a 3,5, 7+ year period. Some of the obvious options for leasing commercial offices space are located in Center City Philadelphia, which is well known for its skyscrapers with amazing views. But what about finding the right solution for your actual needs long term. How do you know you are seeing all the opportunities that can meet your criteria? How do you know which Landlord’s are a little more motivated, maybe due to a higher vacancy, or another project they want to [...]

By Peggy Gallagher|2018-12-05T13:02:00-05:00June 14, 2014|Commercial Real Estate, Corporate Office Space, Philadelphia|

Office Space that Works Harder and Smarter??

Office Space that Works Harder and Smarter??? Just read the news in Natalie Kostelni’s article in the Philadelphia Business Journal about Tony Colciaghi designing office space that “works harder and smarter” for the law firm, Ballard Spahr. I have never had the opportunity to meet Tony but his comments make a lot of sense when it comes to the trend often referred to as shrinking office space in corporate real estate. Apparently on the lease renewal in 2012 there was a significant reduction in the office size of about 34,500 SF in a building with floor plates of about 22,500 +/- SF, the Mellon Bank Building. Beautiful office building built around 1998. According to the news piece in the fall of 2012 Ballard Spahr signed an 18 year lease for about 189,481 square feet reducing the previous office size by about 34,500 SF +/-. Tony an architect with Francis Kaufman [...]

By Peggy Gallagher|2014-06-23T14:01:48-04:00June 13, 2014|Uncategorized|

LaSalle University Economic Outlook Luncheon in January

Monday, January 20, 2014 Do you take it for granted like I do, that we have such a stable banking system in the United States? I was reminded why we have such a stable banking system by Dr. Plosser when I heard him speak at LaSalle University’s Economic Outlook luncheon on 1/14/2014. Dr. Plosser gave us his Perspective on the Economy and Monetary Policy…. He made a point that he was giving us his opinion and not the opinion of the Open Market Committee which he serves on. We were refreshed on the history of the Federal Reserve which was created by Woodrow Wilson in 1913. Congress sets its goals, and the last time the goals were set was 1978. One thing unique about our central bank is that it is comprised of12 regional banks for diversity. There were over 400 + people there and a reporter from Wall Street [...]

By Peggy Gallagher|2014-02-14T10:16:49-05:00February 13, 2014|Commercial Real Estate, Peggy's Travels|

How are CRE professionals paid for their services?
Gallery
How are CRE professionals paid for their services?

Commercial Real Estate

How are CRE professionals paid for their services?

Whether it is a sale/equity transaction, or a lease between owner and tenant, CRE agents receive a commission at settlement, or upon the signing of the lease. The amount of commission is often calculated as a percentage of the lease, or sale value, which often ranges from four to six percent, more or less. For example if a tenant signs a lease for a 2,000 square foot office at $21 per square foot, a 4% commission to the real estate agent would amount to $5,040.00 (3 years X 2,000 SF x $21 x 4%). The owner of the leased building pays the agent’s commission: typically one –half on the signing of the lease and the remaining one half when the tenant begins occupying the building. In many lease, transactions there are two CRE firms involved, both could represent the owner of the building (sub agent and agent), or one could [...]

By Peggy Gallagher|2014-02-07T12:26:53-05:00February 1, 2014|Commercial Real Estate|

About Peggy Gallagher