32A — January 27 - February 9, 2012 — Economic Development — Mid Atlantic Real Estate Journal
MARE journal.com
E CONOMIC D EVELOPMENT
By Gary Brown, P.E., RT Environmental Services, Inc. Commercial Retail Market Heating Up; Brownfields Project Sites Are Rising Again
n the final months of 2011, RT experienced a significant uptick in environmental due diligence I
faculty and students to accel- erate the growth of the region’s technology economy. The Ben Franklin team continues to support TechVentures resident companies with management guidance, business planning, strategic planning, and mar- keting counsel; connections to angel investors and venture capitalists; and assistance in preparing and perfecting fund- ing presentations. The facility provides an entrepreneurial culture that fuels innovation; shared basic office services and access to equipment, con- ference and meeting rooms; high-speed Internet; and other amenities. Ben Franklin will share its new Innovation Institute meeting, learning, and conference facilities space with local corporate partners and programs. “Ben Franklin TechVen- tures 2 epitomizes our work at the Ben Franklin Technology Partners,” said R. Chadwick Paul, president and CEO of the Ben Franklin Technol- ogy Partners of Northeast- ern Pennsylvania. “Like its predecessors, Ben Franklin TechVentures 2 is a job cre- ation factory. Our legacy of innovation continues.” ■ Newly expanded Ben Franklin TechVentures . . . continued from 30A seeing increases, improve- ments in a number of real estate sectors bodes well for an improved 2012 for REAL- TORS, well ahead of 2011, and prior years. Of considerable interest, USA Today, on January 16, indicated in an article that there are even now signs of a housing market uptick. The residential housing market, of course, was the first to decline during the recent re- cession, and news that a resi- dential market turnaround is close at hand, is very good for REALTORS and the U.S. economy. We at RT think that the worst economic times are be- hind us, and that better times are ahead for REALTORS. If we may assist REALTORS to get properties ready for sale, don’t hesitate to give us a call. Gary R. Brown, P.E., RT Environmental Services, Inc. ■
and even a few restaurants are actively seeking good commercial locations to ex- pand their businesses. Although indications are that the office building mar- ket will take longer to re- cover, the apartment market appears very strong, particu- larly as both young profes- sionals and senior citizens, who have raised their family and whose children have left home, have chosen urban ar- eas to live in going forward, either in an apartment or a condominium. It can be said that although all real estate sectors are not
- With at least financial stabilization and/or slow re- covery underway, and with few new announcements of large job losses, confidence seems to be building in buy- ers’ markets. - Banks are clearly lending again, and not just to cus- tomers who don’t really need financing. - With marginal stock mar- ket performance, and with savings interest yields low, commercial properties with a good location, are now con- sidered a good investment option. Pharmacies, fast food restaurants, dollar stores,
(commercial and residential), downtown revitalization and redevelopment project. In one week just before Thanksgiv- ing, we prepared Phase I Environmental Site Assess- ment Due Diligence propos- als for more than 20 sites, and all but one was promptly awarded. Why is there more current interest in certain Real Es- tate sectors? We think: - There are a number of signs that consumers are spending again, and con- sumer debt actually rose in December.
work, par- ticularly at Brownfield sites and at commercial retail sites. In one in- stance, the owner of a n o r t h e r n
Gary Brown
Philadelphia suburbs proj- ect site where work was suspended in 2008, was see- ing interest by two national developers, for a mixed use
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