Philadelphia State of the Market

Wed Sep 18, 2024

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Philadelphia State of the Market

Name: Philadelphia State of the Market
Start: 2024-09-18T10:00:00-04:00
End: 2024-09-18T15:30:00-04:00
Location: One Penn Center

Identifying Key Investment Strategies, Game-Changing CEO Insights, The Rising Opportunity in Retail, Office & Multifamily

Wednesday September 18 2024 @ 10:00 AM EDT

$235.00

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Event Host

One Penn Center

One Penn Center (www.onepenn.com) is an iconic Art Deco office building which occupies a full block in Center City, situated directly above Suburban Station. Its exceptional onsite management team strives to provide a flawless experience for all tenants and visitors. Flexibility exists for tenant spaces to be designed traditionally or in the most modern manner.

In recent years, close to $20 million has been expended on a top to bottom revitalization of the Building, which incorporated the full range of cutting edge technology (Energy Star, distributed antenna system, a sophisticated Tenant Experience App, and a Wired Gold rating). The extensive amenity base includes a multi-functional Conference Suite,Tenant Lounge (with indoor and outdoor seating), Fitness Center, Bike Room and a state of the art Gourmet Commissary - not to mention operable windows and SEPTA trains which still run through the basement.

Speakers and Panels

Brian Berson

Mr. Berson joined Parkway Corporation in 2018 and serves as President of Parkway Commercial Properties, a role in which he oversees Parkway’s growing real estate portfolio as well as development across a national and expanding land bank. Parkway recently delivered a 360,000 SF trophy office building leased by global law firm Morgan Lewis, a multifamily project in Philadelphia’s “old city” which achieved 95% leasing in just three months, and is under construction on another 550,000 SF trophy office building leased entirely by global insurance provider Chubb. Parkway is also in predevelopment for several additional multi-family residential projects in multiple US markets. Prior to Parkway, Brian worked at Brandywine Realty Trust and served as Vice President of Development overseeing development work in New Jersey and Washington DC before which he was Vice President of Leasing and Development at Liberty Property Trust, where he held responsibility for the firm’s leasing, development, and asset management at the Philadelphia Navy Yard. He has 25 years of experience in the industry and has developed over two billion dollars’ worth of real estate. His previous experience also includes development positions in Washington, D.C. at LCOR where he served as Development Manager for the 2.4 million square foot United States Patent and Trademark Office and at Hines where he served as Construction Manager for the 800,000 SF Gannet/USA TODAY Headquarters. Mr. Berson received his Master of Architecture from Columbia University’s Graduate School of Architecture, Planning, and Preservation and his Bachelor of Arts from the Washington University in St. Louis School of Architecture. He holds a Pennsylvania architecture license and National Council for Architectural Registration Board certificate. Mr. Berson sits on the Board of Trustees at NAIOP Philadelphia, at the American Heart Association’s Hard Hats with Heart, and is a Board member at the Central Philadelphia Development Corporation. He has been featured prominently as a guest lecturer, panelist, and instructor at many of the region’s universities.

Parkway Commercial Properties

President

Brian Berson

President, Parkway Commercial Properties

Carl Dranoff

Urban visionary Carl. E. Dranoff has earned national recognition for his game-changing approach to residential development in the urban core. As founder and CEO of Philadelphia-based Dranoff Properties, Dranoff has developed over 1.4 million SF of prime real estate valued at $1 billion with projects ranging from ground-up skyscrapers, adaptive reuse, and mixed-use developments. Developments, built by Dranoff, share a common theme – they are stylish, character-defining, beautifully designed expressions of modern luxury living. Philadelphia's most iconic condominium high rises, including One Riverside, 10 Rittenhouse, Two Liberty, Symphony House, and the under-construction Arthaus, are his work. The uber-luxurious, trend-defying Arthaus is Dranoff’s latest achievement which recently welcomed its first residents. Located across from the Kimmel Center and designed by international A-list architect Kohn, Pedersen Fox, the condominium residences feature expansive skyline and river views and floorplans and finishes worthy of a magazine spread. The resort-style amenities, green spaces, gardens, and white-glove service make every day feel like a vacation. Over his career, Dranoff has had a steady stream of development achievements that have raised the bar on luxury living and changed the equation for urban living. His game-changing apartment and condominium developments are credited with turning around many declining Philadelphia neighborhoods, the Camden, NJ's Waterfront, Newark, NJ's art district, and the Ardmore PA's business district. Dranoff earned his B.S. in Civil Engineering at Drexel University and his MBA at Harvard University. He was also awarded an Honorary Doctorate in Engineering from Drexel University, which cited him as "a nationally recognized civic leader and entrepreneur…whose work has brought a renewed sense of history to Philadelphia and urban Americans throughout the country".

Dranoff Properties

CEO

Carl Dranoff

CEO, Dranoff Properties

Michael Flanigan

EVP, The Michaels Organization

Bennett Lomax

CEO, Lomax Companies

Leslie Smallwood-Lewis

Co-Owner, Mosaic Development Partners

Prema Gupta

CEO, Center City District

Ashish Parikh

CFO, Hersha Hospitality Trust

Matthew Pestronk

Co-Founder, Post Brothers

Sara Doelger

Principal, Argosy Capital

Brian Cohen

Managing Director, Ensemble

Lauren Gilchrist

EVP, Market Leader, Newmark

Ernest Hanna

Senior Principal, GZA GeoEnvironmental

Uchenna Okere

Founder & CEO, RevitGods

Sean Edwards

President, Rittenhouse Communications Group

Gowtham Reddy

CEO, Genesis Capital

Moderator

Jake Reiter

President, Verde Capital

Joy Barrist

Joy A. Barrist offers a full range of commercial real estate law services involving the finance, acquisition, sale, lease and development of complex multimillion-dollar real estate projects throughout Delaware, Pennsylvania, around the country and internationally. She regularly represents banks and lending institutions, private equity firms, non-profit organizations, investors, developers, owners, landlords, and tenants. Joy consistently represents both lenders and borrowers in various types of commercial real estate financing transactions, including acquisition, development and construction lending. Her experience also includes CMBS and mezzanine debt transactions, as well as municipal bond transactions. She handles finance and other real estate matters for all asset classes including multifamily, hospitality, office, retail, industrial, mixed-use, medical and education. Joy represents financial institutions as lead lenders and participants in syndicated loan transactions. Her practice also includes the representation of lenders in workouts, financial restructuring, loan sales and the purchase of loan pool portfolios. Joy’s practice also includes representations with respect to other real estate and general business matters such as easements, lot purchase agreements, sale and purchase of business assets and ownership interests in business entities, the formation of Delaware entities and the rendering of legal opinions in finance and other commercial transactions. In addition to real estate finance, her experience extends to asset-based finance (including equipment, inventory and receivables financing), working capital lines of credit and various other complex commercial loan facilities. She is a frequent speaker on topics of commercial real estate and in particular, real estate finance and construction lending. The current edition of Chambers USA includes her in the top tier of Delaware real estate practitioners, highlighting positive client feedback: "She's a very fine attorney — a good technician and a good drafter." "Joy is top notch and her work is second to none." Joy is actively involved in a number of community organizations in and around Wilmington, Delaware, including I Am My Sister’s Keeper, The Teen Warehouse, Inc., Jumpstart Wilmington, REACH Riverside and the Kingswood Community Center. Joy is the vice practice group leader of the firm's Transactions and Corporate Counseling Group as well as chair of the firm's Women's Initiative

Potter Anderson & Corroon

Partner

Moderator

Joy Barrist

Partner, Potter Anderson & Corroon

Bradley Korman

Mr. Korman is Co-CEO of Korman Communities, Inc. The Company is one of the largest owners and managers of multi-family properties in the region with a portfolio of 24 properties, and total market capitalization in excess of $2 Billion. The Company operates throughout major markets in the United States, and is based outside of Philadelphia, PA. The Company was the innovator of short-term furnished apartments in the United States over 50 years ago, and Mr. Korman is a member of the fourth generation to lead this company. The Company operates three brands, including its ARK and AVE properties which feature full service multifamily operations at prime, infill locations. The Company introduced its AKA brand in 2004, an upscale, urban high-rise concept with properties located in New York City, Philadelphia, PA, Washington, D.C., Beverly Hills, CA, and London. Mr. Korman has lead the acquisition, development and financing program of all new properties by the Company, including the entrance into new markets such as New York City, Beverly Hills and London. This growth has allowed Korman Communities to establish relationships with some of the largest and most respected financial and lending institutions in the country. Mr. Korman oversees all new business development, including debt and equity relationships, throughout the Company. Mr. Korman serves on the Board of Trustees of The Philadelphia Police Foundation, Germantown Academy and the Duke University Library Advisory Board. He is also a member of the JFRE Executive Committee, President’s Leadership Council at Jefferson, Zell/Laurie Real Estate Center of The Wharton School of the University of Pennsylvania, and is a licensed Real Estate Broker in Pennsylvania and New York. Mr. Korman received his B.A from Duke University in 1987, and his M.B.A. from The Wharton School of the University of Pennsylvania in 1992.

Korman Communities

CEO

Moderator

Bradley Korman

CEO, Korman Communities

Why You Should Attend This 2024 Philadelphia State of the Market

What You'll Learn:

Gain insights into the current state of the market and the opportunities present across different asset classes.
Learn the impact of the $2.5B master plan project for South Philly Sports Complex, which will create a year-round live, work, play community destination.
Understand the landscape of multifamily housing in Philadelphia and discover creative financial solutions catering to a range of housing needs.
While malls may be struggling across the country, discover why retailers are flocking to Philly and why King of Prussia Mall is 98% occupied.
Understand the impact of the developments alongside the river connecting more people to 30th Street Station.
Learn how developers are securing construction financing despite continued economic headwinds.
The rapid development of Philadelphia's waterfront and the effect it will have as a thriving mixed-use destination.
Hear from top CEOs about visionary leadership, embracing innovation and tackling industry-wide challenges in today's ever-changing real estate market.
Understand how 300K SF of build-to-suit office space was developed for the first time since 2019 in Center City.
Foot traffic into office buildings has reached 90% of 2019 levels, while Class-A continues to dominate leasing activities. Understand what amenities tenants are prioritizing in today's market.
Understand creative strategies developers are employing to fill the capital stack and understand how the capital bucket has shifted in today's market.
Gain insights into the unique design and architectural features that contribute to the appeal of Philadelphia's waterfront as a mixed-use destination.
Learn from CEOs about cultivating a company culture that fosters innovation and performance, as well as strategies for attracting and retaining top talent in the competitive real estate industry.

How you'll do more business:

Learn valuable insights into the current state of the Philadelphia real estate market across various asset classes. Hear from Philadelphia's biggest owners, developers investors, tenants and CRE experts about their facility expectations and patient care outlook. Gain a stronger understanding of Boston's hospital, medical office and ambulatory care landscape.

Who attends:

Philadelphia's top commercial real estate CEOs, CFOs, COOs, property management professionals, investors, developers, architects, contractors, urban planners, brokers, financial professionals and policy makers.

Why should you attend:

Bisnow events bring together the biggest power players in the industry to help you identify opportunities, build your network and expand your business. With the largest audience of commercial real estate professionals in the world, no one knows how to help your business better than we do.

For questions, recommendations, comments or press inquiries, please email Bisnow Event Producer Joshua Piquion at joshua.piquion@bisnow.com. To request disability-related accommodations, please contact ally.araco@bisnow.com no later than seven business days prior to the event.

Venue

One Penn Center
1617 John F Kennedy Blvd
Philadelphia, PA 19103

Get Directions

Agenda

Time	Activity
10:00 AM 11:00 AM	Pre-Event Networking
11:00 AM 11:45 AM	Exploring Creative Projects: Inside Look at Major Innovation Trends in Tech, Design and Development 1.) Understand how to maximize your asset to attract tenants and residents. 2.) Learn key design and tech trends shaping new developments.
11:45 AM 12:30 PM	CEO Round Table: Navigating the Current Climate
12:30 PM 1:15 PM	Lunch & Networking
1:15 PM 2:00 PM	State of Capital Markets: Identifying Deal Opportunities and Making Deals Pencil 1.) Analyze how the capital bucket has shifted and where anchor investment is coming from. 2.) Understand the deals that are penciling in today's environment and best ways to stack capital.
2:00 PM 2:45 PM	Live, Work, Play: Assessing Retail & Mixed-Use Development 1.) Analyze the opportunity available to turn previously industrial zoned areas into vibrant lively communities. 2.) Understand the impact of development along the Delaware and Schuylkill rivers and the need for more retail.
2:45 PM 3:30 PM	Post-Event Networking

PHILADELPHIA'S 2024 PROJECTS, ARTICLES & CURRENT EVENTS

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