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

 

3rd Quarter Office Market Report Update for Greater Reading

Suburban overview

The greater Reading suburban office market ended the second quarter of 2015 with a vacancy rate for Class A, or highest quality, office buildings at 10.93 percent, which includes existing and proposed sites. The vacancy rate for only existing Class A office buildings is 4.57 percent.

This is a decrease in vacancy rates from the end of first quarter this year and a decrease from the same period in 2014, which was at 13.55 percent. The average rental rates      remained unchanged at $17.50 to $22.50 per square foot modified gross (in which the tenant pays the base rent and the landlord covers all costs relating to property + operations), which is a decrease in the rates from the same period of 2014.

The Class B suburban office market ended the first quarter with a vacancy rate of 18.40 percent for existing and proposed sites. The vacancy rate for only existing Class B  Office buildings is 16.19 percent. This is a slight increase in vacancy rates from the end of the first quarter 2015, and it is a decrease from the same period in 2014. The average  rental rates remained unchanged at $12.50 to $15.50 per square foot modified gross from the end of the first quarter 2015 to the end of the second quarter of 2015. That is a  larger decrease from the same period in 2014, when average rental rates were $12.50 to $17.50 per square foot.

The Class C suburban office market ended the second quarter of 2015 with a vacancy rate of 13.97 percent, which is a slight decrease from the same period in 2014 and the  previous quarter.

The outlook for the office market sector going into the third quarter of 2015 is very optimistic, because of the high level of continued interest in the marketplace. Various deals that are finalized were completed in the beginning of the third quarter, including an 18,000-square-foot lease on Berkshire Boulevard, which could help third quarter numbers.

The opinions in the next two paragraphs are from the first quarter of 2015 and remain unchanged:

Cap rates for investment-grade office buildings remain low because of attractive financing. The most important variables are length of leases, credit of tenant(s), type of lease and type of asset (such as single tenant, multi-tenant, medical or back office).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.

 

Downtown overview

The greater Reading downtown office market ended the second quarter of 2015 with a vacancy rate for Class A office buildings at 22.63 percent. It was a slight decrease in rates from the end of the first quarter of 2015. The average rental rates remained unchanged from the first quarter of 2015 through the second quarter of 2015 at $11 per square foot modified gross to $14.50 per square foot modified gross.

The reason for the slight decrease in vacancy rates is because of the new location of a 11,000-square-foot tenant at 501 Washington St. and expansion of various tenants throughout the marketplace. The Class A market noticed a benefit of the expansion of the large lease completed in the first quarter of 2015. However, Class B space is feeling the effect into the second quarter of 2015 because of the large vacancy that was created by the move.

The Class B downtown office market ended the second quarter of 2015 with a vacancy rate of 23.10 percent. This was an increase in vacancy rates from the end of first quarter 2015, and it was a smaller increase from the same period in 2014. The average rental rates remained unchanged at $7.50 per square foot modified gross at the end of the second quarter to $11 per square foot modified gross. This is similar to the rates from the same period in 2014. Overall vacancy rates for Class C buildings remained unchanged at 23.62 percent.

 

Bryan Cole is the real estate office and medical specialist of NAI Keystone Commercial and Industrial LLC. The website is www.Bryan-Cole.com. – See more at: http://readingeagle.com/business-weekly/article/office-space-vacancy-rates-decrease-from-1st-quarter-and-from-second-quarter-of-2014#sthash.Aq2nFSP1.dpuf

www.WyoOfficeSpace.com

New Website dedicated to Office Space for Sale or Lease in Wyomissing/Spring Township Berks County, Pennsylvania.

Bryan Cole of NAI Keystone has developed a website dedicated to the numerous properties being marketed in Wyomissing and Spring Township.

The site offers comps, market information, and property availability.  Below is a newly published Advertisement for the site.  Please visit www.WyoOfficeSpace.com and let us know what you think.

WyoOfficeSpace Ad

Bryan E. Cole,SIOR

NAI Keystone Commercial & Industrial, LLC

direct: 610-370-8502

Bcole@naikeystone.com

www.Bryan-Cole.com | 610 779 1400 (o) | 610 779 1985 (f)

Cole and Willems of NAI Keystone Receives SIOR Designation

Bryan Cole and Steve Willems of NAI Keystone Commercial & Industrial, LLC have received the SIOR designation.

 

The designation includesSIOR Logo the leading professionals within office and industrial real estate brokerage and represents today’s most knowledgeable, experienced, and successful commercial real estate brokerage specialists in the world.

 

There are strict guidelines to obtain the designation including Education, Experience, and High Levels of Income.  There are 2,800 brokers worldwide who have met the stringent qualifications to earn the SIOR designation.

 

And one of the most important aspect is, providing exceptional service with an emphasis on ethics.

 

About SIOR:

Thee SOCIETY OF INDUSTRIAL AND OFFICE REALTORS® is the leading professional commercial and industrial real estate association. With more than 3,000 members in more than 630 cities in 34 countries, SIOR represents today’s most knowledgeable, experienced, and successful commercial real estate brokerage specialists.

SIOR has certified thousands of members with the prestigious SIOR designation, a professional symbol of the highest level of knowledge, production, and ethics in the real estate industry. Real estate professionals who have earned the SIOR designation are recognized by corporate real estate executives, commercial real estate brokers, agents, lenders, and other real estate professionals as the most capable and experienced brokerage practitioners in any market. SIOR designees can hold the following specialty designations: industrial, office, sales manager, executive manager, or advisory service.

SIOR also consists of associate members who include corporate executives, developers, educators, and others involved in the commercial real estate industry.

A professional affiliate of the NATIONAL ASSOCIATION OF REALTORS®, SIOR is dedicated to the practice and maintenance of the highest professional and ethical standards. SIOR maintains a commitment to business and industry by providing outstanding professional services, publications, and educational programs.

Transaction Data shows the success of SIOR members:
On average from 2008-2012 SIOR members reported that he or she leased or sold an average of 1 million square feet of space for a total dollar volume of $31 million in 30 transactions.

As a group, SIOR designees closed more than 78,000 transactions.

SIOR maintains and promotes a professional designation of the highest quality for the benefit of its members and their clients. The SIOR designation stands unchallenged for excellence in the performance of real estate services, and is universally recognized as the prerequisite in the selection of a commercial real estate broker, agent, or consultant.

– See more at: http://www.sior.com/about/sior-overview#sthash.nJpVtErv.dpuf

 

 

Don’t forget to visit www.Bryan-Cole.com or my clients/members site atwww.NAIKeystoneMembers.com

Bryan Cole, SIOR | Sr. Associate

Bcole@naikeystone.com

NAI Keystone Commercial & Industrial, LLC

3970 Perkiomen Ave, Suite 200 Reading, PA 19606

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

Direct +1 610 370 8502 |Main +1 610 779 1400 | Fax +1 610 779 1985

Blog | LinkedIn  | Twitter  | Main Website | Office Space Site

Wyomissing Office Properties for Lease

List of Properties for Lease / Sale in Wyomissing Pennsylvania.

By Bryan Cole of NAI Keystone

Wyomissing Office Property Cover

You can click the photo above to take you to the Wyomissing Office Mailing, or click here.

If you are looking to lease office space in Wyomissing or Spring Township, be sure to check out www.WyoOfficeSpace.com.  If you are looking for office space in any other market, please give us a call or visit www.Bryan-Cole.com.

Thank you,

Bryan Cole | Sr. Associate

Bcole@naikeystone.com

NAI Keystone Commercial & Industrial, LLC

3970 Perkiomen Ave, Suite 200

Reading, PA 19606

www.Bryan-Cole.com or www.WyoOfficeSpace.com

Direct +1 610 370 8502 |Main +1 610 779 1400 | Fax +1 610 779 1985

Blog | LinkedIn  | Twitter  | Main Website | Office Space Site

Year End 2013 – Greater Reading Office Report

Year End 2013 Full Office Report

By Bryan Cole of NAI Keystone

Year End 2013 - Cover

Please join my Client/Member site to access all market reports.

You can click the photo above to take you to the current report, or click here.

 

Bryan Cole | Sr. Associate

Bcole@naikeystone.com

NAI Keystone Commercial & Industrial, LLC

3970 Perkiomen Ave, Suite 200

Reading, PA 19606

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

Direct +1 610 370 8502 |Main +1 610 779 1400 | Fax +1 610 779 1985

Blog | LinkedIn  | Twitter  | Main Website | Office Space Site

Bryan Cole of NAI sells White Pines Professional Center

By Bryan Cole

NAI Keystone’s Bryan Cole completed the sale of a 10,000 sf. multi-tenanted office building in Flying Hills.  The property is located at 2433 Morgantown Road, Reading PA, and is considered a Class A office building with quality tenants.  The building is situated on 4.7 + acres which will allow for three additional building lots.  The lots should allow for three 5,000 sf. buildings.

The existing building has one suite for lease totaling approximately 1,500 sf.White Pines Professional Center

For more information about the sale or information on the avail-abilities.  Please give us a call.

Don’t forget to visit www.Bryan-Cole.com or my clients/members site atwww.NAIKeystoneMembers.com

Bryan Cole | Sr. Associate

Bcole@naikeystone.com

NAI Keystone Commercial & Industrial, LLC

3970 Perkiomen Ave, Suite 200

Reading, PA 19606

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

Direct +1 610 370 8502 |Main +1 610 779 1400 | Fax +1 610 779 1985

Blog | LinkedIn  | Twitter  | Main Website | Office Space Site