On November 14th, ULI Philadelphia Young Leaders will host the second annual Shark Tank.  We asked Tony Rimikis to share some insights and why he is excited to return as moderator.

ULI:What do you look forward most about this year’s Shark Tank event?

I enjoy listening to the presentations of the developers and gauging their expertise, commitment, and excitement for the development challenge.

 ULI: What are some of the driving factors that are affecting the Philadelphia real estate market today?

The neighborhood growth brought on by young people wanting to stay in the city for the diversity and cultural experience and the proximity to jobs.

 ULI: Which are Philadelphia’s hottest neighborhoods for development, urban or suburban, and why?

In the suburbs: Narberth, PA, Collingwood, NJ, Cherry Hill, NJ

In the City: University City, Port Richmond, Powelton Village, Mt Airy

 ULI: What factors matter most when you evaluate a prospective Project / Loan / Equity Investment?

Both

 ULI:What are the ‘not-so-obvious’ design and/or construction hurdles (specific to Philadelphia) which may not exist in another city for a similar project?

Poor public schools. High cost of construction, zoning issues, neighborhood opposition to change

Tony Rimikis Biography 

Mr. Rimikis recently retired as the Senior Vice President for Urban Development at Brandywine Realty Trust. He was responsible for the company’s downtown Philadelphia development and construction activities and has over thirty years’ experience in the field of real estate. Since joining Brandywine in 1997, Mr. Rimikis has been responsible for the development of over ten million square feet of commercial and industrial space.
For over ten years, he has been an Adjunct Assistant Professor at the Drexel University College for over ten years and the recipient of the 2010 Part Time Faculty Service & Leadership Award. He served on the Drexel University Construction Management Advisory Council, and is a frequent panelist and guest lecturer for numerous educational and real estate organizations.
Mr. Rimikis holds undergraduate degrees from Temple University and the Wharton School of the University of Pennsylvania, and a Master of Business Administration degree from LaSalle University. He holds the Certified Commercial Investment Member (CCIM) designation from the Realtors National Marketing Institute, and is a licensed Real Estate Broker in the State of New Jersey.
Sara N. Doelger
Sara Doelger is a Vice President with Argosy Real Estate Partners. Ms. Doelger is responsible for deal sourcing, due diligence, and transaction closings. She is also responsible for asset management, financings, and dispositions within the existing portfolio. Ms. Doelger has more than 12 years of experience in real estate finance and development across a variety of asset types. Prior to joining Argosy, Ms. Doelger developed retail and multifamily properties with firms including Pennsylvania Real Estate Investment Trust, Buckingham Companies, and Taco Bell. Ms. Doelger began her career as an Urban Retail Specialist with Kravco Company.
Ms. Doelger is the Assistant Chair of the Commercial & Retail Council of the Urban Land Institute and was a co-founder of the Indiana District Council of ULI in 2007. Since 2001, Ms. Doelger has served on a variety of nonprofit boards in the Philadelphia area and is currently a Director of the Passyunk Avenue Revitalization Corporation (PARC).