|Camp Hill, PA (April 20, 2022) – Last week, Landmark Commercial Realty, McNees, and Wells Fargo, hosted the inaugural Central Pennsylvania Commercial Real Estate Symposium at the West Shore Country Club.Approximately 100 of the region’s most active real estate principals, developers, and advisors heard from area business leaders and the most prominent deal influencers in South Central Pennsylvania. Topics of discussion included post-COVID macro-economic landscape along with current real estate trends, updates on the latest construction and supply challenges, and submarket forecasts for the remainder of 2022.|
Guest speaker, Senator John DiSanto kicked off the event with a discussion about the Pennsylvania Tax-Deferred Exchange. Landmark’s President Mike Curran moderated a panel discussion; panelists included VP of Operations – Andrew Notarfrancesco from JEM, Managing Principal of Integrated Development Partners – Jonathan Bower, and McNees Land Use Attorney – Charlie Courtney; an economic forecast was presented by Keynote Speaker, Charlie Dougherty, Vice President and Economist at Wells Fargo.
The panel discussion highlighted how pricing volatility continues to trouble all stages of real estate ownership and how development and labor tactics continue to morph in a rapidly changing generational and competitive environment. Additionally, economist Charlie Dougherty indicated the US projects continued growth in 2022 and 2023. Dougherty also expected several interest rate increases throughout 2022 that will allow the market to ‘cool off’ and likely return YoY growth to 2-3%.
“We have already begun planning for next year’s event,” stated Curran. “We are looking forward to making this an annual event.”
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