WP Realty, a real estate investment, development, management and leasing company based in Bryn Mawr, Penn., has three promotions among key personnel effective immediately:
*Timothy Herb has been promoted to vice president of development. Herb oversees the planning, coordination and completion of all development and redevelopment projects for properties in WP Realty's portfolio.
*Jason Hess, Esq. has been promoted to vice president and associate general counsel. Hess is responsible for the negotiation and preparation of all leases in the company's portfolio and handles construction related documentation for the company's various development projects
*Gordon Powley has been promoted to regional property controller. He oversees a team of property accountants and administrative staff to provide accounting and reporting services, cash flow projections, budgets, audit and tax return preparation for a portfolio of the properties.
Wallingford, CT O,R&L Commercial has completed the $3.8 million sale of a mixed-use investment property located at 33-39 North Main St. and 24-25 Wallace Ave. in the town center.
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.