PHILADELPHIA-Tenants here, as elsewhere, have the upper hand in today's market. During a session at RealShare Philadelphia yesterday, moderated by Sidney Smith, president, Smith Mack & Co., users shed light on the Philadelphia CBD's distinctions, strengths and drawbacks.

“Of the 17 markets we're in, only two -Bangor, ME and Cherry Hill, NJ – are less expensive. From a tenant perspective, Philadelphia is undervalued in just about every way,” said Mark Brookman, chairman of the real estate department of the locally based Duane Morris law firm. “We have concerns about the quality of the workforce, however, not among lawyers, but within the day-to-day, non-attorney labor pool.”

The pool of knowledge workers here is “enormous,” said Bill Fisher of University Science Center. “We hear companies telling us they're eager to scoop up people from the universities. On top of that, they're amazed at how little its costs to buy a house here versus San Diego, for example. In addition, the quality of life issues here are a big plus. The city wage tax,” he concedes, “is always a problem.”