The Kiplinger Letter, a weekly newsletter that tracks economic trends for businesspeople, is cautiously optimistic about the commercial property market for 2013.
"We see commercial property improving along with the overall U.S. economy in 2013," Jerry Idaszak, the publication's associate editor, told us—though he thinks the commercial market will make gradual improvements rather than a big acceleration (and all bets are off if Congress can't work out an agreement on the so-called fiscal cliff).
Idaszak says Philadelphia's prices for warehouse space are not what he would call hot, but they're "among the warmer" compared with other metro areas. Philadelphia is faring better than many cities because it's well situated near a number of coastal ports.
A recent survey of investors, said Idaszak, showed that about 25 percent think it's a good time to buy industrial and warehouse property in Philadelphia while another quarter think it's a good time to sell. The remaining 50 percent suggest doing neither—just hold onto a warehouse if you've already got one.
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