Commercial Real Estate Poised to Take Off in 2021, Says Brandywine Realty CEO

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Image via brandywinerealty.com.
Radnor Financial Center.

Brandywine Realty Trust CEO Jerry Sweeney is enthusiastically upbeat about commercial real estate in 2021, writes Ryan Sharrow for Philadelphia Business Journal.

Brandywine Trust is the largest landlord of Class A office space in the Philadelphia region, including the Radnor Financial Center in Radnor.

“The greatest economy in the history of the world was on hold for 10 months. I think there will be a lot of pent-up demand. I think the standards will be even higher. So if you’re a very high-quality landlord, I think you’re going to benefit from the emerging trend lines,” he said.

Companies now see offices as a work in progress, with an expectation of real growth under an economic recovery.

What is trending is a push for higher quality office buildings.

Post-COVID design gives more space per employee, greater circulation areas, more than one kitchen and conference room, more private work areas.

Older or more utilitarian buildings will have a harder time meeting these new demands of today’s tenants.  Sweeney believes many of the Class B and C buildings will be converted to residential.

Read more about the state of commercial real estate as envisioned by Brandywine Realty Trust CEO Jerry Sweeney at Philadelphia Business Journal.

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