The Suburban West Commercial Chapter is excited to be involved with three unique events this Fall. Mark your calendars now and plan to be in attendance at the following events to access timely information, food and drink and quality networking with commercial practitioners from throughout the area:

• Commercial Real Estate Economic Update with Dr. Mark Dotzour - November 2; 3pm-5pm, cocktail reception immediately follows - Valley Forge Casino - Hosted by KW Commercial and sponsored in part by the SWRA Commercial Chapter - Informative and entertaining presentation on the current economic climate from nationally-recognized economist Dr. Mark Dotzour.
• Anatomy of a Development: King of Prussia Town Center - November 8; 3pm-5pm, cocktail reception immediately follows - Sheraton King of Prussia - Hosted by SWRA Commercial Chapter - Panel discussion on how the King of Prussia Town Center development came together.
• Annual TriState Joint Dinner - November 16; 5:15pm-8:30pm - Harry's Savoy Grill, Wilmington - Joint event between SWRA Commercial Chapter, CIRC, PA-NJ-DE CCIM Chapter, SIOR - Philadelphia Chapter, Appraisal Institute - Delaware Chapter.  
  

Stay tuned for more details about each of the above events including how to register.

The Commercial/Investment Marketing Exchange will meeting next Friday (September 8th) beginning with networking at 8:15am at the Suburban West REALTORS Association office in Malvern.

This month's exchange will begin with the presentation, "'The Secret Sauce' to Keep You Top of Mind with Buyers/Sellers/Owners/Investors/Lessees/Bankers" by Norman Simon, President of Essential Strategies, LLC.

Immediately following the presentation will be the Marketing Exchange portion of the program. Bring your 'haves' and 'wants", including flyers for discussion this portion of the session and help best serve your clients.

No registration is necessary and coffee and light breakfast fare will be provided.

Route 202 is a thriving corridor due to years-long development. With more developments underway and proposed transit projects, the Philadelphia Business Journal held a Corridors of Opportunity event on July 27th at Davios in King of Prussia which brought together officials to talk about the thriving 202 corridor.

Highlights of the discussion included:

• SEPTA making moves on King of Prussia Rail project - Focused on extending its Norristown High Speed line, this proposed project would add at least four stops and expand the line into King of Prussia and Upper Merion Township. The goal would be to link the areas three largest employment centers: Center City, University City and King of Prussia. Liz Smith, Acting Director of Strategic Planning for SEPTA said they are "a month or two" from releasing the draft environmental impact statement - "a big milestone in the federal approvals process."
• Vehicular congestion and pedestrian-friendly access remain challenges - Route 202 is by and large still an auto-centric corridor, and one of the criticisms SEPTA gets is the challenge of walking to and from the eventual King of Prussia rail. Beyond this issue, walking in the vicinity of the Mall can be "harrowing," according to Rob Loeper, Upper Merion township planner. As more buildings become occupied, Upper Merion officials will look at how traffic operates and what tweaks have to be made.
• Competition will be a challenge - Competition for a high-quality workforce will be a challenge as Route 202 continues to boost its reputation as a tech hub. "We have to be focused on continuing to prepare students to be cooperative and integral in this high-tech environment," said MaryFrance McGarrity, senior vice president of business development at the Chester County Economic Development Council.
• Amenities - Route 202 continues to thrive and grow because of the addition of new amenities, which makes areas along the corridor more attractive to current and potential employers and employees. Trailways are a common amenity people were looking for along Route 202, according to the panelists. A trail recently opened along the Schuylkill River connecting one of Upper Merion's larger-activity parks to Valley Forge. Further, there are plans to extend the Chester Valley Trail to Bridgeport and connect it to the Schuylkill River trail, on the other side of the river, according to Rob Loeper, Township Planner for Upper Merion.
  

Source: Philadelphia Business Journal; July 27, 2017

Commercial real estate markets continue to improve, with REALTORS specializing in commercial real estate reporting both an increase in member's gross income and sales volume, according to the National Association of REALTORS 2017 Commercial Member Profile.

The annual study's results represent REALTORS who conduct all or part of their business in commercial sales, leasing, brokerage and development for land, office and industrial space, multifamily and retail buildings, as well as property management.

"There has been an uptick in REALTOR members who choose to specialize in commercial real estate at the same time as commercial professionals report improvements in the market and their business activity," said 2017 NAR President William E. Brown. "A stronger commercial market is a good indicator of a growing economy, so the outlook is positive for commercial members in the year ahead."

Click here to access a copy of the NAR 2017 Commercial Member Profile.

Starting this August, we will have six commercial courses that will be scheduled periodically through May 31st of 2018. Below is a list of courses and our dates of our first offerings which will all be held at our new location in Malvern (1 Country View Road, Ste. 101) - unless otherwise noted. Just click on the course name for more details and note that additional dates will be scheduled beyond October:

• 1031 Tax-Deferred Exchanges; September 6, 1:30pm-5pm (at MCAR, Blue Bell)
• Commercial Real Estate Valuation Principles and Procedures; October 3, 9am-12:30pm
• Federal Tax Strategies for Commercial Real Estate; September 11, 1:30pm-5pm
• Fundamentals of Commercial Real Estate; August 15; 9am-5pm; September 28, 9am-5pm
• Millennial Generation and Retail & Housing Markets; Sept. 11; 9am-12:30pm; Oct. 20, 1:30pm-5pm
• Zoning and Land Use; Sept. 11; 1:30pm-5pm; Oct. 20; 9am-12:30pm
  

Save at least $25 on the regular cost of tuition for 14 hours by purchasing the MCE Season Pass. The Pass will allow you to complete any standard continuing education, including the commercial classes listed above, the required PA Rules and Regulations course and any others that might be of interest to you between July 1, 2017 and March 31, 2018. Click here for more information and how to sign up.