Town Hall Meeting Generates Bullish Outlook

[IMGCAP(1)]PHILADELPHIA-As insiders all over the country discuss the possibility of a recession, due to a turbulent capital market environment and residential fallout, Philadelphia experts believe that the Philadelphia region doesn’t always follow in lock-step with the rest of the country. Approximately 500 attendees joined RealShare’s Philadelphia conference Thursday, looking for answers during a time filled with a lack in clarity.

[IMGCAP(2)]During the general session Town Hall Meeting: The State of the Philadelphia Market, moderator Robert Walters, a senior managing director of CB Richard Ellis looked to panelists Jeff DeVuono, SVP and regional manager of Brandywine Realty Trust, David Fahey, president of the commercial division at Binswanger, Bill Glazer, president and founder of Keystone Property Group, James Mazzarelli, SVP and regional director of Liberty Property Trust, for their outlooks on where Philadelphia stands going forward.

[IMGCAP(3)]“Clearly there is a discussion about the recession and tough times, but I would love to remind everyone that it was less than a year ago—July of ’07—when everybody in the market was walking around complaining bitterly that there was nothing to buy,” said Glazer. “The complaint today is that there is nothing to buy because there is no money. Pick a complaint. I like this market, because we are back to blocking and tackling, fundamentals.”