MARLTON, NJ—On the heels of its South New Jersey office report, Jason Wolf, principal of Wolf Commercial Real Estate (WCRE), based in Marlton, NJ, tells GlobeSt.com in an exclusive interview that the market is getting stronger and showing signs of growth, but it's not too crazy yet. Wolf spoke to his about his thoughts on Southern Jersey and Philadelphia.
GlobeSt.com: We just wrote about 6.8% cap rate deal in Atoona. Is that a sign the market is overheating?
Jason Wolf: The investment market is active and showing signs of overheating. When you can go borrow money and leverage that deal at 3.5% interest rates, it will appear as a much more attractive deal, so your cash return might be a little bit higher. But you can't write about many good credit tenanted 8.6% retail deals in the Philadelphia region. They don't exist. There are multiple parties now also bidding on owner occupied assets and we are seeing many user sale deals in bidding wars, especially locally here.
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