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

Tips to Consider When Searching for an Independent Retail Space
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Tips to Consider When Searching for an Independent Retail Space

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Tips to Consider When Searching for an Independent Retail Space

As a Commercial Real Estate Tenant Representative, I work with a variety of business each with their own needs for commercial real estate space. The ability to work with an independent retailer is often unique because the checklist of requirements is drastically different than a commercial office building. Finding a space that fits the products being sold, target audience (convenience and visibility with customers is critical), and potential foot traffic is a fun and rewarding challenge. Outlined below are a few options to consider for independent retailers when considering commercial space. Mall, Strip Mall, or Standalone Building Location, location, location. Making sure you pick a store front in the right location is critical to the success of your business, and a lot of it depends on what kind of business you have. If you are a hip clothing store whose demographic is Millennials you might want to select a location [...]

By Peggy Gallagher|2018-03-08T16:25:20-05:00July 7, 2017|Uncategorized|

Philadelphia’s Changing Skyline

A city is defined by it’s skyline. The image of a city’s skyline goes on everything from t-shirts to coffee cups to paintings. It helps establish the identity of a city and it’s people. But skylines are always changing, especially here in Philadelphia. I’m sure when you think of the Philly skyline a few major images come to mind, the distinct silhouette of William Penn on the top of City Hall, the massive boxy outline of the Comcast Center, the matching points of One and Two Liberty Place. Later this year the Comcast Technology Center will open and the skyline will once again change forever. It will be the tallest building in the city at 1,121 feet tall, the other Comcast Center was previously the tallest since 2008. City Hall was actually the tallest building all the way up until 1987 when Liberty Place was built. And so the Curse [...]

By Peggy Gallagher|2017-06-12T11:04:05-04:00June 12, 2017|Philadelphia|

Philadelphia Inquirer Article

Jacob Adelman of the Philadelphia Inquirer recently published an article detailing how the Philadelphia City Council has approved a real estate transfer tax law that will close existing loopholes, and could have a huge impact on future transactions. I found it very informative and wanted to share with anyone else that was interested in the Commercial Real Estate industry. Click this link to view the article!

By Peggy Gallagher|2016-12-15T11:08:56-05:00December 15, 2016|Commercial Real Estate|

The Cities are Hot, The Suburbs are Not
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The Cities are Hot, The Suburbs are Not

ITRA Global

The Cities are Hot, The Suburbs are Not

The Cities are Hot, The Suburbs are Not The world of commercial office space is changing. The questionsis not only how it’s changing but where? In the 1940’s and 1950’s, returning GI’s left the cities to buy their dream homes in the suburbs. The developers were more than happy to accommodate and thus began the suburban sprawl. Office buildings were built to accommodate companies that wanted offices near their owners, employees, and customers. For over 50 years, this cycle repeated itself throughout the country and suburban office markets boomed. This changed in the first decade of the new millennium. The millennials, raised on digital social connectivity, wanted social connection in real life and a lifestyle incorporating working, living, and playing, in the same proximity. They moved to cities, both large and small, that could accommodate their lifestyle: New York City, Los Angeles, San Francisco, Chicago, Boston, Denver, Salt Lake City, [...]

By Peggy Gallagher|2016-10-28T15:26:12-04:00October 28, 2016|ITRA Global|

Low Ceiling with Gray Skies, or Blue Skies caused by FASB Rule Changes?

In the Spring 2016 Issue of National Association of Realtors magazine, Commercial Connections, in an Advocacy Article titled “A Look at Several of The Issues Important to your Business” under “Lease Accounting” there is information on the new FASB Standards that were released in February 2016. This is a reference to the Financial Accounting Standards Board, FASB Accounting Standards Update No. 2016-2 February 2016, Leases (Topic 842). This is the first big change in something like 40 years to the standards for Lease Accounting. It does apply to all leases, not just commercial real estate leases. For companies that use GAAP accounting it goes into effect December 15, 2018. Most private companies have until 2019 for fiscal years beginning December 15, 2019 to transition to the new rules. There is a lot to digest. And I suspect companies that use GAAP accounting [...]

By Peggy Gallagher|2016-10-24T13:54:05-04:00October 7, 2016|Commercial Real Estate|

Montgomery County Office Trends 2016

Let’s look at trends in the office markets in Montgomery County mid year to the Fall 2016. Vacancy in the overall market is just under 12%. The average gross rent is $24.00 psf per year, BUT quality matters. Looking at vacancy and rental rate trends in Class A Office Space in Montgomery County PA you now see a vacancy in 7.3% and rates average $28.00 psf, please see the graphs below. Office Montgomery County PA Vacancy & Rental Rates Just shy of $24.00 Class A Office Space in Montgomery County PA Within Montgomery County vacancy and rates vary by location within the county. It is broken down into towns and A, B, C class office space. Office Market Mid-Year 2016 CLICK TO ENLARGE Montgomery County Class A, B, C

By Peggy Gallagher|2016-09-21T10:42:23-04:00September 21, 2016|Uncategorized|

Hiring a Commercial Real Estate Agent

With the advent of the internet and the wealth of information available online…. do I really need a commercial real estate agent to assist with my commercial real estate transaction? Yes, and here is why. As you can imagine finding a business location and/or a lease renewal for a location is a process. It is not just identifying a building and zip code it is more, and for those purchasing, it is a long term investment. It is most efficient if you select a commercial real estate broker who can help you do the following: See the Big Picture Understand the Value of your Purchase Negotiate the Best Terms Possible Devote the Manpower and Time to Achieve all your Goals Most commercial real estate agents work on a contingent basis, meaning they will get paid upon the purchase, or signing of the lease, which is usually paid by the Seller, [...]

By Peggy Gallagher|2013-11-11T15:24:47-05:00September 18, 2013|Corporate Office Space|

Tenant Representation or Personal Shopper?

Tenant Representation is like being a personal shopper for a very large and complicated purchase; an industry term is Transaction Manager for the Tenant. The women of C.R.E.W., Commercial Real Estate Women, might agree this is one reason women make great commercial real estate brokers. Women know what they want, how to find it and are excellent negotiators. Peggy Gallagher, owner of PG Commercial Real Estate and a woman real estate professional weighs in on the benefits of Tenant Representation and the value it has to a Business. What makes an office space purchase, or lease, a complicated purchase? For starters the multiple layers from identifying the properties, to financing, to space layout, to taxes and orchestrating the move itself. Knowledge of the language in contracts and the business terms associated with it Distinguishing factors and expectations of different property classes: A, B etc Setting expectations and help to compare [...]

By Peggy Gallagher|2013-11-27T14:48:53-05:00August 30, 2013|Corporate Office Space|

Considering Office Space in Montgomery County?
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Considering Office Space in Montgomery County?

Corporate Office Space

Considering Office Space in Montgomery County?

Is your business considering new office space in Montgomery County, PA? If you have not does so already there are a few things you can do before you start hunting for properties. First things first. Assess and summarize your current use of office space. Here are a few topics and ideas you may want to consider when choosing to look for new office space. This will help guide you to what you might need or want to look for that you may not have already considered. CURRENT SPACE USE Start with a basic list of PROS and CONS of your current office space. What do you like? What do you not like? How is the office layout? Where are the problem areas? Is the office layout conducive to the work environment and individual or team dynamics? COMPANY GROWTH Do you plan to expand or downsize your staffing needs over the [...]

By Peggy Gallagher|2013-11-11T15:24:47-05:00August 23, 2013|Corporate Office Space|

Las Vegas ITRA Global Conference 2013

Las Vegas ITRA Global Conference - April 5th to 7th, 2013 So far 2013 has been a busy one, here is a quick recap from my trip to Las Vegas! April 5th to 7th I attended the ITRA Global Conference hosted in Las Vegas. A special thanks to Banner Travel in Rockledge, PA for assisting me in making my travel arrangements for this trip via Southwest Airlines and the Wynn Hotel. When I arrived I was able to get tickets to the Cirque Du Sole show, KA at the MG M Grand. Ka was a spectacular show, if you get a chance to see it, go! Ka has been described as the following: "Ka... signifies life-force, consciousness, duty and destiny. In the vulgate, or low speech, it also means a place to which an individual must go." CONFERENCE NOTES: On Friday, Melissa Meyer President of Bruce International, Inc. (transcending translations) presented and did an excellent [...]

By Peggy Gallagher|2013-11-11T15:24:48-05:00April 22, 2013|ITRA Global, Peggy's Travels|

About Peggy Gallagher