Kellie McGowan Discusses the Latest Trends for Commercial Real Estate in Delaware Valley Journal
Kellie McGowan, a partner in Obermayer’s Business & Finance Department and co-chair of the Land Use and Zoning team, shared her perspective on commercial real estate trends in 2023 in an interview with the Delaware Valley Journal. The article, titled “Real Estate Lawyer Shares Optimistic Outlook for 2023,” published on January 10, 2023, discusses the impact of the predictions of an economic slowdown on the real estate market.
“We’ve certainly been hearing for a while now that there’s going to be an economic shift in 2023,” said Kellie. “I have not seen things slow down with my clients on the commercial side. People are still looking for property. Industrial clients are still moving forward with projects. I really think when you say it’s going to impact real estate, it’s really sector by sector.”
Kellie also shared that in her opinion, the suburbs are still extremely attractive to commercial developers, especially areas in Chester, Montgomery, and Bucks Counties that are farther from Philadelphia and are now farms or woodlands.
“Developers are looking further out in the counties for development opportunities,” added Kellie. “The suburbs are a good market, so we’re optimistic even if there is a softening.”
Read the full interview here.