On Friday June 8th, Penn’s Northeast hosted the inaugural Northeastern Pennsylvania Real Estate Summit. The event was attended by nearly 200 business people, commercial realtors, developers, builders, and site selectors who shared their outlook on current and future real estate trends locally and nationally.
Penn’s Northeast president/CEO John Augustine, welcomed the crowd and served as moderator for the various panels. The forum focused on commercial, industrial and office markets — including the growing medical sector as well as downtown development, housing, retail, and office.
“The region’s nearest competitor is the Lehigh Valley, which Mr. Augustine said is filling up, leaving Northeastern Pennsylvania as the next logical location. In addition, “A lot of companies are leaving the New York-New Jersey metro area due to costs. And we have seen an increase in international inquiries as well.”