Cole Represents Penn State Health St. Joseph in Robesonia

NAI Keystone’s Bryan Cole represented Penn State Health St. Joseph in leasing a new facility in Robesonia PA.  NAI’s John Buccinno represented the Landlord, Mr. Vince Giannotti.  The site was home to Giannotti’s Italian Kitchen restaurant.

 

The site is a 6,000 sf. Free Standing Building at a lighted intersection in the heart of Robesonia at 410 E. Penn Ave.

 

For More Information call:  Bryan Cole @ 610.370.8502 or Bcole@naikeystone.com.

 

By Bryan Cole, SIOR | Principal

NAI Keystone Commercial & Industrial, LLC | www.Bryan-Cole.com

Bcole@naikeystone.com

 

New Sublease Opportunity in Wyomissing

NAI Keystone’s Bryan Cole has been hired to represent a 5,045 usf. sublease at 30 Commerce Drive in Wyomissing PA.  Due to the expansion needed by the current tenant, this prime single story office building is available for lease.  The suite is set up for a financial user and has higher end interior finishes with large offices and open workspace.

Call for Details.

 

By Bryan Cole, SIOR | Principal

NAI Keystone Commercial & Industrial, LLC | www.Bryan-Cole.com

Bcole@naikeystone.com | 610.370.8502

NAI Keystone is excited to have a part in VF’s Redevelopment and Various Projects within the Wyomissing Area.

Bryan Cole and John Buccinno of NAI Keystone are excited to be part of the rapid progress in West Reading and Wyomissing and are involved in a number of large public projects along with a few projects that sometimes fall below the radar. These projects consist of both existing buildings and future redevelopment opportunities and have contributed considerably to the areas growth.

Completed projects in just the past few years:

  • the Sale of the Former Arrow International Building in Wyomissing
  • the Sale of the Former Narrow Fabric Building along Hill Ave in West Reading
  • the Leasing of the Martins Flooring Space along Park Road
  • the Leasing of the A to Z Vacuum Space along Park Road
  • the Leasing of Rentokil’s corporate offices along Berkshire Blvd.
  • the Leasing of up to 95,000 sf. of Office Projects within the former Glen Gery Site now known as the Wyomissing Corporate Campus
  • the Leasing of 40,000 sf. of Office / Medical deals along State Hill Road
  • the Leasing of 67,000 sf of Office to C.N.A. Insurance at 1 Meridian Blvd.
  • the Lease of 15,000 sf. To UGI Utilities Inc. at 1 Meridian Blvd.
  • nearly 100,000 sf. of lease renewals in Wyomissing and Spring Twp.
  • and most notable the representation of UGI Energy Services into their new HQ at the VF Outlets which is being led by Buccinno

We are excited to be part of these projects and look forward to watching the market continue to grow during these exciting times.  The projects outlined above and the future projects shown below proves Berks County has a lot going on, especially when you have local municipalities that work together to make the area business friendly and understand the need for redevelopment projects.

In addition, we are pleased to have a number of available sites within the same areas outlined above.

  • a 66,000 sf. building for sale or lease directly across from the VF Outlets at 200 N. Park Rd
  • a 12,000 sf. two story office building for lease at 420 N. Park Road
  • various suites for lease at 2001 State Hill Road including prime 1st floor area
  • various suites for lease within the Wyomissing Professional Center, Wyomissing Corporate Campus, and the Spring Ridge Corporate Campus
  • a large open lot within Berkshire Court and another office pad site along Meridian Blvd.
  • a 11,000 sf. retail building along State Hill Road for Sale or Lease
  • up to 9,000 sf. of new space available at Granite Point
  • various suites available along the Berkshire Blvd. corridor

We look forward to any individual or companies interest in learning more or wanting to become part of the exciting times in Berks County and we welcome any questions.  We at NAI provide a market report on a quarterly basis which is published by the Reading Eagle Newspaper via the Business Weekly section and can be obtained from our website at www.Bryan-Cole.com or www.NAIKeystoneBlog.com

 

Thank you to all of our partners who have had a hand in getting these deals across the finish line.

 

Call or Email for Details

Bryan E. Cole, SIOR | Principal

NAI Keystone Commercial & Industrial, LLC
875 Berkshire Blvd., Suite 102
Wyomissing, PA 19610
Bcole@naikeystone.com

www.Bryan-Cole.com or www.NAIKeystone.com 

NAI Keystone Asset Management – Commerce Qtr. AD

Check out our New Ad in Commerce Quarterly Winter 2017 – http://www.KeystonePropertyMgmt.com

pm-ad-2017

 

Bryan E. Cole, SIOR | Principal

NAI Keystone Commercial & Industrial, LLC
875 Berkshire Blvd., Suite 102
Wyomissing, PA 19610
Bcole@naikeystone.com

www.Bryan-Cole.com or www.KeystonePropertyMgmt.com 

NAI’s Bryan Cole assists The Water Guy in its expansion locally

NAI Keystone’s Bryan Cole assisted a local organization in its expansion into a 20,000 sf. Industrial Building in Muhlenberg Township Berks County.

The Water Guy is a locally owned and operated bottling company.  The facility is a free-standing 20,000 sf. industrial building along Tuckerton Road in Muhlenberg Township formally occupied by Goodman Vending Machines.

To learn more about Industrial Real Estate or deals taking place in the area, give us a call.

NAI’s Bryan Cole provides local market reports.

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Call or Email for Details

Bryan E. Cole, SIOR | Principal

NAI Keystone Commercial & Industrial, LLC
875 Berkshire Blvd., Suite 102
Wyomissing, PA 19610
Bcole@naikeystone.com

www.Bryan-Cole.com or www.NAIKeystone.com 

Keystone’s Buccinno & Cole Handled sale of 4634 Penn Ave

NAI Keystone’s John Buccinno & Bryan Cole represented the Seller of 4634 Penn Avenue.  The property was a 9,750.00 sf. Free Standing Retail/Flex Facility located along Penn Ave in Sinking Spring.  The building was previously utilized as a showroom and warehouse distribution center for ProSource.

 

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Bryan E. Cole, SIOR | Principal

NAI Keystone Commercial & Industrial, LLC
875 Berkshire Blvd., Suite 102
Wyomissing, PA 19610
Bcole@naikeystone.com

www.Bryan-Cole.com or www.WyomissingOfficeSpace.com

Suburban Berks County Office Report – 3Q16

Suburban Berks County Overview – End of 3rd Quarter 2016

The Greater Reading Suburban Office Market ended the 3rd Quarter 2016 with a vacancy rate for Class A Office Buildings at 8.94% which includes existing and proposed sites. The vacancy rate for only Existing Class A Office Buildings is 3.00%.  This is a negative in vacancy rates from the end of 2015, and an overall decrease from the same period in 2014.  The average rental rates went up slightly and are now at $19.50 – $24.50 per square foot modified gross, which is a larger increase in the rates from the same period in 2014.

The Class A Product has 185,120 sf. as being proposed within the market and another 28,165.00 sf. that is available for sub-lease.   There was a major reduction in proposed square footage after the Spring Township Corporate Office Campus; which is now being proposed for a different use.

The Class B Suburban Office Market ended 3rd Quarter 2016 with a vacancy rate of 17.35% for existing and proposed sites.  8-17-2014 9-56-21 PMThe vacancy rate for only Existing Class B Office buildings is 15.11%.  This is a slight decrease in vacancy rates from the end of 2nd Quarter 2016 and an increase from the same period in 2015.   The average rental rates had a much-needed increase in the 2nd quarter of 2016; however they remained relatively flat ending out the 3rd quarter of 2016 with rates at $15.00 – $19.50 per square foot modified gross.

The Class B Product has 73,000 sf. as being proposed within the market.  These are subject to change as well, since one of the office sites was on/off again for a hotel development.

The Class C Suburban Office Market ended the 3rd Quarter with a vacancy rate of 14.99%, which is a larger drop from same period 2015 and a slight drop from 2nd Quarter 2016.

The overall Suburban 3rd Quarter Office Market noticed continued growth due to several lease renewals that contained expansions.  The majority of the growth has been from within the county.

The EOY report should contain positive news in an entire market review; however, going into 2017 the belief is, there will be large blocks of space added to the market which will affect the numbers, specifically the announcement by Teleflex to sell their facility.

Landlord concessions are being removed from offerings since the market has stabilized, which is also pushing rental rates upwards.

Cap Rates for Investment Grade Office Buildings remains low due to attractive financing.  The most important variables are length of leases, credit of tenant(s), type of lease, and type of asset (I.E. Single Tenant, Multi-Tenant, Medical, Back Office).  The primary issue within the investment market is the lack of quality product.

Overall activity continues to come from within the local marketplace.  The majority of the transactions taking place are companies that already call Greater Reading home.  However, most of these deals have resulted in larger footprints and longer commitments.

 

Bryan E. Cole, SIOR | Principal

NAI Keystone Commercial & Industrial, LLC
875 Berkshire Blvd., Suite 102
Wyomissing, PA 19610
Bcole@naikeystone.com

www.Bryan-Cole.com or www.WyomissingOfficeSpace.com