Kreider, a 30-year veteran of the real estate industry, discussed some of the opportunities and challenges facing commercial Realtors®. He provided some fascinating insights regarding how the COVID-19 pandemic has affected different segments of commercial real estate, from office, industrial, retail and hospitality.
Since the shutdown, large online retail companies have been acquiring as many e-fulfillment warehouses as possible, not only in Pennsylvania, but across the country in order to meet the growing demand for online purchasing. Kreider, who specializes in industrial real estate, said since earlier this year, Amazon has leased more than 4 million square feet of space in the Philadelphia region, from Berks County to Hagerstown, Maryland.
To hear more of our conversation, watch the interview.
Kreider said SIOR offers networking opportunities to its members, not only in Pennsylvania, but across the country and around the globe.
When asked why he became involved in SIOR, Kreider said, “I have always respected SIOR members as being at the top of the industry. Not only do members meet production requirements but we are required to take educational and ethics training in order to obtain the designation.”
To learn more about the SIOR Philadelphia chapter, visit siorphila.com.
“The industrial sector was the undisputed commercial real estate champ in 2020 and expect it to remain strong in 2021 together with medical office and data centers,” said Joel Kreider, president of the Philadelphia Chapter of Society of Industrial and Office Realtors®. “Investors will be chasing opportunities throughout those three sectors this year and look for a trend toward smaller warehouse deals with expanded parking ratios as e-commerce fuels the need for last mile logistics.”