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’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 

Cole, Willems and Buccinno attend 2016 SIOR Fall World Conference in NYC

Photo from SIOR.com

NAI Keystone’s Bryan Cole, Steve Willems, and John Buccinno attended the 2016 SIOR Fall world Conference in New York City this past week.

The event featured Rudy Giuliani and Tom Brokaw, along with other high profile industry CEOs and Executives.

What is an SIOR?

SIOR Designation

The SIOR designation is a professional achievement for highly qualified commercial real estate practitioners with a strong transactional history in brokerage, fee-based services, or executive management.

SIOR Designees are:

  • Specialists in industrial and office markets.
  • “Transaction Closers” recognized by developers, lenders, and investors.
  • Top producing professionals – closing on average more than 30 transactions per year.
  • The “Best of the Best” – having met stringent production, education, and ethical requirements.

 

Bryan 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

 

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

Greater Reading Office Market Report – End of 1st Quarter 2015

Greater Reading Office Market Overview
1st Quarter 2015 Report
By Bryan Cole, SIOR

Suburban Overview

The Greater Reading Suburban Office Market ended the 1st quarter of 2015 with a vacancy rate for Class A Office buildings at 15.01% percent which includes existing and proposed sites.  The vacancy rate for only Existing Class A Office Buildings is 4.39%.  There were no changes in vacancy rates from the close of 2014, however it is an increase from the same period 2014.   The average rental rates remained unchanged at $17.50 – $22.50 per square foot Modified Gross, which is a decreases in the rates from the same period in 2014.

The Class B Suburban Office Market ended the 1st quarter of 2015 with a vacancy rate of 18.19% for existing and proposed sites.  The vacancy rate for only Existing Class B Office buildings is 15.98%.  This is a slight decrease in vacancy rates from end of year 2014, and it is larger increase from the same period in 2014.   The average rental rates remained unchanged at $12.50 – $15.50 per square foot Modified Gross from the End of 2014 to 1st quarter of 2015 and that is a larger decrease from the same period in 2014, when average rental rates were $12.50 – $17.50 per square foot.

And the Class C Suburban Office Market ended the 1st quarter 2015 with a vacancy rate of 14.28%, which is a slight decrease from the same period 2014.

The outlook for the office market sector going into the 2nd quarter of 2015 is very optimistic due to the high level of interest in the marketplace.  There are upwards of 80,000 sf. of deals in the marketplace.

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).

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 1st quarter of 2015 with a vacancy rate for Class A Office buildings at 22.64%.  It was a slight increases in rates from the end of year 2014.  The average rental rates remained unchanged from 4th quarter 2014 thru 1st quarter 2015 at $11.00 per square foot Modified Gross to $14.50 per square foot Modified Gross.

The reason for the slight decrease in vacancy rates was due to the relocation and expansion of an existing downtown engineering firm.  The Class A market noticed a benefit of the expansion, however Class B space would see a slight increase due to the move.

The Class B Downtown Office Market ended the 1st quarter of 2015 with a vacancy rate of 21.68%.  This was a slight increase in vacancy rates from the end of 2014, and it was a large 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 2014 to $11.00 per square foot Modified Gross, this is similar to the rates from the same period 2014.

Overall Vacancy Rates for Class C buildings remained unchanged at 23.62%.

 

Check www.Bryan-Cole.com for a full and comprehensive Office Market Report.

 

By Bryan Cole, SIOR | NAI Keystone Commercial & Industrial, LLC

Office & Medical Specialist | www.Bryan-Cole.com

Subscribe at www.NAIKeystoneBlog.com

 

Former Reading Kubota in Leesport Sold

NAI Keystone’s Bryan Cole and Steve Willems handled the sale of the Former Reading Kubota property in Leesport PA for $1,250,000.00.  The property was bought by an end user who is expanding their local operations.  The original post for the property listing blog can be found at http://wp.me/px8VU-lL

Greater Reading Economic Partnership’s Pam Shupp and the team at GREP assisted in getting the deal across the finish line.  Check http://www.GreaterReading.com for local resources and contacts.

The property is a 20,886 sf. flex building with 14,886 in the main building and 6,000 sf. in the pole building.  Please contact us for additional information about this deal.

2014-09-23 11.56.39

 

Bryan Cole, SIOR

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

NAI’s Bryan Cole completes sale to Humane Society of Berks

NAI Keystone’s Bryan Cole represented NRJ Tv Philadelphia in the sale of its facility at 1729 N. 11th Street.  NAI listed the property in September of 2014 and was under agreement with Humane Pennsylvania shortly thereafter and closed in January 2015.

2015-02-21_9-35-19

 

Bryan Cole, SIOR

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