Zahniser Joins Cresa's Philadelphia Office as Managing Principal

A major commercial real estate services firm has hired a veteran in national industrial property as managing principal.

Eric Zahniser has joined Cresa's industrial services group in Conshohocken, Pennsylvania.

Cresa is expanding its presence in the burgeoning greater Philadelphia market. In October, the brokerage opened a new office in Center City.

"Eric’s arrival supports and accelerates our growth plan on the East Coast," Tony Juliano, Cresa’s Philadelphia market leader, said in a corporate statement announcing the move. "We grew our local workforce by over 40% in 2022, bringing in talented advisers to bolster our regional service offering and address our clients’ many requirements. We are off to a great start in 2023 and look to maintain that momentum throughout the year."

So far this year, the Philadelphia industrial market continues to lead the region, outperforming the New York City, Baltimore, Scranton, Lehigh Valley and Washington, D.C. industrial markets, with the most completed inventory in the past 12 months at nearly 16 million square feet, the most inventory under construction at 25.4 million square feet, and the highest annual absorption — measuring the difference between move-ins and move-outs over the past year — at 11 million square feet, according to CoStar market analytics.

Zahniser most recently served as a principal with Lee & Associates Commercial Real Estate Services.


View the full article on CoStar News.