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

Considering Office Space in Montgomery County?

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.


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?


Do you plan to expand or downsize your staffing needs over the next 5 to 10 years? Although hard to predict a business usually knows based on sales projections and a working business plan when more staff, or production space will be needed.  This should be a strong consideration in finding new space to be sure that you can grow into it, or have the option to add more space, if or when needed.


Employees, Customers & Prospective Employees. Will your move affect your current employees commute? Will a move to another town improve visibility to prospective employees?


Posted in: Corporate Office Space

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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.” ITRA Global Logo located on the homepage of PG Commercial Real Estate the website of Peggy Gallagher Commercial Realtor in Montgomery County, PA


On Friday, Melissa Meyer President of Bruce International, Inc. (transcending translations) presented and did an excellent job. It was amazing to listen to her Top Ten Questions to ask our customers who maybe relocating out of our country, sending a team aboard, or a company locating in the US from somewhere else. Melissa also cited examples that highlight the reasons for using a specialized company, such as Bruce International, to assist with translations and customs of a culture if you are planning to do business outside of your own country.  There are cases where the  same words in a language can have different meanings or uses varying with the local culture; just think about the differences in the expressions of the British versus the US English.  During the presentation the question of the accuracy of Google Translation came up. This was an excellent example of a great tool that can translate out of context. The lesson we walked away with was, it is not worth it to insult or offend a client and to rely on a human translation vs an automated translation to ensure the translation is accurate to the situation and in context!

Many of the conference speakers were principals of other ITRA Global Affiliates. Other guest speakers included Matt Weirich and Ani Rangarajan, co-founders of ReaLync. On Saturday one of our ITRA Global members, Ron Pollina, Ph.D., shared his valuable experience in completing  Sale/Lease backs transactions.  The transactions  he used as examples were huge, significant sizes, in terms of dollar volume.

I gained a lot of good useful information  by attending the conference.  As an organization (ITRA Global) three new members were accepted to be exclusive ITRA Global Affiliates for Orange County (Corporate Realty Advisors), Los Angeles County (Mazirow Commercial), California, and Salt Lake City (Logical Move), Utah. Congratulations to our newest members, welcome to the team!

Vegas MoutainsWynn Hotel Street ViewTerrible's HotelPoolside Garden - Wynn

Hotel Lobby - WynnTreasure Island HotelWynn Lobby



Posted in: ITRA Global, Peggy's Travels

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What do commercial real estate business women do on the weekends?

Empire State Building

What do some commercial real estate and business women do on the weekends?

Have fun, of course! On Sunday April 14th a group of professional women took a Bolt Bus ride to New York City to see Breakfast at Tiffany’s at the Cort Theatre.  We had a delicious lunch at a fabulous Greek restaurant on 44th Street between 5th and  6th Avenues. We are a group of professional women that work hard and take trips to NYC thanks to our organizer Maureen Mastroieni, President of Mastroieni Associates. Our group included: Nancy Mastroieni from Mastroieni Furniture, Susan Giraldi of The Philomena Construction Group, Eileen Lynn of E, H. Lynn & Associates, Diana Sperle from Unisys, and me Peggy from PG Commercial Real Estate.

Here is a photo from our trip of the Empire State Building and the Hotel New Yorker – 2 iconic locations in NYC.  Do you spend quality time with your professional contacts outside of work?


Posted in: Peggy's Travels

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Montgomery County, PA

Montgomery County’s Office Market appears relatively stable based on a survey of 214 A class office buildings. In the September 2012 survey there was a vacancy of 14% and an average rental rate of $25.67 per SF per year. There has been some new construction. The first new Hospital to be built in the past ten years in S. E. PA opens this month in East Norriton, Montgomery County, PA. Einstein’s new Hospital is a 363,000 square foot LEED certified hospital building with 146 private beds and an adjacent medical office building, 100% leased on a 87 acre campus with about 30 acres dedicated to open green space. United Sates history is very visible in Montgomery County. PA Visitors’ Guide says: “Montgomery County was created on September 10, 1784 from part of Philadelphia County. Norristown, the county seat, was named for Isaac Norris, who owned land there. The vistas at Valley Forge Historical Park are especially breathtaking, both in fall foliage and later in the season as snow turns rolling hillsides into the perfect place to go sledding, or cross-country skiing. It was here that General Washington forged his Continental Army into a fighting force, during the difficult winter encampment of 1777-78. America’s past echoes through countless historic sites and homes in the Montgomery County area which trace the nation’s growth.”

Posted in: Newsletter Articles

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Why I LOVE Philadelphia….

Philadelphia is the city of “brotherly love,” location of the signing of the Declaration of Independence, home of the Philadelphia Phillies, Eagles, Flyers and Sixers, along with home to many of the top companies in the nation and world.  Not only do I work in the Philadelphia area but I grew up here. I have spent my career in all things (commercial) real estate including helping companies relocate out of the area with my many ITRA Partners. It is my job to know local markets, communities and trends and I look forward to sharing how Philadelphia can be the home office to your business.

There are so many reasons why I LOVE Philadelphia, this short video highlights a few of my favorites.

– Peggy

Posted in: Philadelphia

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For 2013 Look Back at 2012 & 2011 Office Market

According to recent CoStar Group and PPR reports the Office Market in 2012 performed as expected… Office jobs increased 2.1%, the same as in 2011. Office sales were up 8% and the price of buying an office building increased 4.8%. Due to the correlation between job growth and demand for office space they compare the growth of employment in Total Non-Farm Employment to Office Using Employment, and the Office Use job growth was 1% more than the total non-farm job growth. Office Vacancy fell 50 basis points to 12.3%. Construction starts for Office are way down…Therefore the prediction is that 2013 will be similar to 2012 for the office market with some slow growth in demand and increases in rents. Of course these numbers are references to a National picture. Each region has different growth patterns depending on the local economy. The changes in rental rates year over year (2011/2012) provides an example of the differences. In San Francisco the year over year change in office rents was an increase of 14.6%; in the Philadelphia Region that change was 0.1%, and in Saint Louis a decrease of 1.6%. In most areas demand is increasing although slowly, construction is down, and rental rates are increasing.

For companies that use office space it is important to know you are striking the most reasonable and fair terms of a lease or lease renewal. As the office market cost increase in 2013, and beyond, good market intelligence, excellent insights into the local Office Market, and efficient design of the office are key to obtain the best possible terms of a lease.

PG Commercial Real Estate, Inc. | ITRA Global Philadelphia

Posted in: Newsletter Articles

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Lines Blur between Office and Retail Properties

Lines Blur between Office and Retail Properties

While there is very little new office building construction in the Philadelphia Region it sounds like there is new competition for Suburban Office Landlord’s coming from Retail Landlord’s. At a Philadelphia Retail Summit on February 16th representatives from Federal Realty Investment Trust, The Goldenberg Group, Wal-Mart Stores, Regency Centers, PREIT, Brixmor Property Group, RAS Brokerage, A & E Construction moderated by Jerald Goodman of Drinker Biddle & Reath. It was mentioned several times that the retail spaces were being redeveloped-reused for other purposes such as office space and medical office space. With this new competition there still were over 2.3 + million square feet of office space absorbed in the Philadelphia region in 2011. Will this new competitor reduce rental rates? Doubtful — because there is very little new construction of office buildings in the region. For example the vacancy rate for Office space in Montgomery County is approximately 12%. From a recent survey of Office Buildings in that county it appears that the trend for rental rates is that they are stable, not trending up yet. Using the Montgomery County office market as an example, even with this added competition from retail properties the office market in Montgomery County PA will most likely continue a stead slow improvement for 2012 following the employment picture.

Posted in: Newsletter Articles

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