South Jersey firm looks to hire after securing $20M contract to test Navy weapons systems
EHS Technologies has been awarded more than $100 million in federal contracts since November 2019.
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EHS Technologies has been awarded more than $100 million in federal contracts since November 2019.
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Amazon will open its first East Coast grocery stores in the near future, including a location in Warrington Township, Bucks County. The tech giant has been rumored to have plans for additional markets in the Philadelphia area, including potential locations in Northern Liberties and Bensalem.
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Amazon will open its first East Coast grocery stores in the near future, including a location in Warrington Township, Bucks County. The tech giant has been rumored to have plans for additional markets in the Philadelphia area, including potential locations in Northern Liberties and Bensalem.
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The Yardley-based can manufacturer sold off most of its business in Europe, the Middle East and Africa to a New York private equity firm.
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There’s so much to hate about the Philadelphia Parking Authority (PPA). The tickets they put on your car after your meter just expired. The awful […]
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Discarded Personal Protective Equipment used to stop the spread of COVID-19, such as face masks and gloves, are turning up on beaches around the world.
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The companies are located less than a block apart on Market Street in University City.
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REITs Seen Benefitting from Economic Recovery, Unleashing of Pent-Up Demand
Sarah Borchers…
Apr. 8 2021
The REIT sector has remained resilient throughout the pandemic and is ready to take advantage of the recovering economy and unleashing of pent-up demand that is expected to characterize the rest of 2021 and beyond, according to the NYU Schack Institute of Real Estate’s 25th Annual REIT Symposium: REIT Leadership in a Post-Pandemic World.
Adam Emmerich, partner at Wachtell, Lipton, Rosen & Katz, opened the symposium by making several predictions, including: work from home, or some version thereof, is here to stay; ESG is at an inflection point; 2021 will be the year of the “REIT mega deal”; and, the REIT universe will continue to expand.
In a panel titled The Bull Case for REITS Post-Covid, and How to Play It, Mike Kirby, co-founder and director of research at Green Street, argued that there is indeed a strong bull case for the industry at this time. “REITs have not looked this cheap in 15 years,” he said.
Kirby said it does appear that the stock market overreacted during the course of the pandemic. The recovery in REIT share prices “has been for the right reasons,” he said, given the “very favorable” economic news.
During a keynote lunch session, Prologis, Inc. (NYSE: PLD) chairman and CEO Hamid Moghadam, noted that a key development to come out of the pandemic is the realization that supply chains have been “so stretched and fine-tuned for efficiency that they have no resiliency.” The trend of declining inventories has “turned a corner,” he added.
And while the pandemic has accelerated the penetration of e-commerce, Moghadam said he expects there might be some leveling off of that penetration once the economy fully reopens. However, e-commerce will keep growing off of a higher base, he added.
During a fireside chat, Debra Cafaro, chairman and CEO of Ventas, Inc. (NYSE: VTR), said the broader economy is poised for a “break-out to the upside.” While the economy will benefit from increased infrastructure spending and pent-up consumer demand, corporate activity, such as business travel, is likely to stay muted, she added. Cafaro stressed that in order for the economy to reach its full potential, there must be a strong uptake of the new COVID vaccines.
Cafaro also commented on investment in life science real estate, noting that inflows into the sector have never been greater. For its part, Ventas invested $1.3 billion into the sector during the pandemic, she pointed out.
Meanwhile, Sam Zell, founder and chairman of Equity Group Investments, said getting everyone back to work is “very, very important.” However, he added that the process could be “difficult, and will operate in spurts.”
During a keynote lunch session on day two of the conference, Zell said there is probably still upside potential in industrial real estate given the scale of conversion to online business, while the office sector faces “significant over-supply.” Price discovery in the retail sector is likely to occur once liquidations begin—which will probably be in the next six to eight months, he predicted. “There’s a lot of over-priced retail,” Zell said.
Barry Sternlicht, chairman of Starwood Capital Group, also participated in the conference. Asked if capital will keep flowing in the real estate sector, he said that it would. “We’re available to produce yield in a world that’s yield-less.”
He also noted that there hasn’t been a lot of distress yet in real estate, given that rates are low and banks are not eager to foreclose. As the economy re-opens, Sternlicht expects to see more distress and sales.
Among other observations made during the conference:
In March, Adidas announced its latest piece of footwear: a meter-long sneaker designed in collaboration with Estonian rapper Tommy Cash. Billed as “the longest shoe […]
The post Did Adidas Just Rip Off a Nike Sneaker Sculpture Made By Two Philly Artists? appeared first on Philadelphia Magazine.
A winning MONOPOLY 100X scratch-off lottery ticket worth $3 million was sold at Lucky 7 Deli in Willow Grove, located at 425 W. Moreland Road. It’s the second $3 million winning lottery ticket sold in the Montgomery County, Pennsylvania neighborhood in less than a month.
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