Featured Properties of the Week – by Bryan Cole

Week of May 27th

 

Week of May 21st 2013 V2

For More information, please contact Bryan Cole and don’t forget to visit www.Bryan-Cole.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

New Member-Client Only Feature to Bryan-Cole.com

Bryan-Cole.com has added a *NEW* Client and Member only feature to its website.

3-19-2013 12-01-22 PM

The information contained within the Site is built into three separate levels and are all completely FREE!

The 1st level is General Membership Level – and houses the current information.

General Resources

Market Reports
Vendor Lists
Publication Archive
Financial Resources
Government Resources
Real Estate Resources
Social Network Resources
Real Estate Terms Glossary
Calculators

The 2nd level is Vendor Membership Level

This level allows our vendors to place their information into our database which is fully searchable.  It also allows for complete access to the General Membership Level.

The 3rd and Highest Level is Client Membership Level

The client level features access to both Vendor and General along with the following resources.

Client Resources

Forms & Contracts
Templates
Marketing Collateral
Comprehensive Market Info
Detailed calculators
All General Resources

In Addition

We are also adding an individual level per Listing which will allow our Property Owners the ability to Log In and obtain information about their properties including Documents and Marketing.  This will be via the same secure site.

All memberships and subscriptions allow you to:  Manage your Profile, Mailing Subscriptions and e-Mail subscriptions.

The site and its contents are to assist our partners and clients to obtain accurate and valuable information to assist in their day-to-day operations and real estate decision-making process.

Please don’t forget to register at  www.Bryan-Cole.com or by clicking here

Thank you,

Bryan Cole | NAI Keystone Commercial & Industrial, LLC

http://www.Bryan-Cole.com

610.370.8502

Bcole@naikeystone.com

NAI Keystone’s Bryan Cole handles sale of 50,644 sf. Office Building

NAI Keystone’s Bryan Cole with the assistance of John Buccinno and Steve Willems complete the sale of a 50,644 sf. multi-tenanted office building in Wyomissing PA.

The property located at 2001 State Hill Road is a multi-tenanted office building located in the Boro of Wyomissing.  The property consists of 10 total units with an on-site fitness center and large surface parking lot.

The building current has various suites still available for lease; suites are available from 1,200 sf to 18,000 sf.

The building was owned by Berkadia & Bank of America.  NAI Keystone was hired to dispose of the asset for the Bank which was placed under contract in less than 30 days and sold in 90 days.

NAI Keystone handled both sides of the transaction and assisted in the property management prior to the sale.

The buyer was a local investor who intends to hold the property as a long-term investment.

For more information about this sale please contact Bryan Cole of NAI Keystone Commercial & Industrial, LLC

 

Source: www.Bryanecole.wordpress.com and www.Bryan-cole.com

For More Information about Local News, Market Intel, or Commercial Real Estate Opportunities; visit www.Bryan-Cole.com

Bryan E. Cole | NAI Keystone Commercial & Industrial, LLC

direct: 610-370-8502

Bcole@naikeystone.com

Check out my new website at www.Bryan-Cole.com

About Bryan Cole and NAI Keystone

Bryan joined NAI Keystone in early 2004, but before joining NAI, Bryan Cole spent 4 year’s active duty in the United States Marine Corp, including a 6 month deployment in Afghanistan, a 4 month deployment in Kuwait/Iraq, and a 7 month deployment in Japan. Prior to joining the military Bryan was involved in the construction of commercial and multi-unit properties in the Philadelphia suburbs. Bryan has experience working with a diverse group of individuals in numerous countries throughout the world. During Bryan’s time at NAI, he has sold and leased well over $230 Million Dollars worth of Commercial Real Estate. Because of this, Bryan earned NAI gold club status his first year in the business. Bryan is currently working on earning both his CCIM designation and SIOR designation. Bryan has been NAI Keystone’s Top Performer from 2006 – 2011.
NAI Keystone is a full service commercial and industrial real estate firm located in Reading, Berks County.  NAI Keystone manages and handles approximately 4 Million square feet of commercial and industrial space in Berks and Schuylkill County.  NAI is the only firm in Berks County dedicated to strictly commercial real estate.  www.Bryan-Cole.com.
610 779 1400 (o) | 610 779 1985 (f)

Landlords Poised to Regain Upper Hand In Recovering Office Market

Article by Costar Group Research Department

Office space absorption doubled during 2011 as the office-using job base expanded and vacancies declined across nearly two-thirds of U.S. submarkets, CoStar Group reported this week in its Year-End 2011 Office Review & Outlook. The report presented to CoStar clients found that positive momentum in office fundamentals and the continued absence of new construction is expected to result in higher rents for building owners over the next few years.

Office sales increased steadily through 2011 over the previous year as investors sought to get ahead of the curve, with investor interest spreading beyond the safer well-leased investment-grade buildings in top-tier markets and into smaller properties and second-tier markets such as Seattle, Atlanta and Northern New Jersey. Total fourth-quarter 2011 office sales are likely to match or exceed fourth-quarter 2010’s impressive $25 billion once all sales are tallied.

Total CRE sales, which evened out in 2011 across all property types, is estimated at nearly $300 billion, the highest since the peak of the real estate boom in 2007, and well above the historical average of around $220 billion since 2000.

Although office tenants continue to hold the cards in many markets, CoStar reports the outlook appears to increasingly favor building owners in coming years as the cycle continues.


Follow me on Twitter for live news updates or check out my website www.Bryan-Cole.com.


“To sum it up, for the office market, we’re just now getting started. Now is a good time to be an office investor,” said Walter Page, director of research for Property and Portfolio Research (PPR), CoStar’s analytics and forecasting division. “We expect vacancy to continue to decline through 2015, and when you have declining vacancy rates, you can raise rents, returns are better, and for an investor, that’s good news.”

Economy Shows Positive Signs For CRE
CoStar Group founder and CEO Andrew Florance noted that, although overall employment growth has been anemic, the U.S. posted a solid 1.7% gain in office-using jobs, led by technology and energy markets such as Seattle, Boston, San Francisco and Dallas.

Other positive signs abound, including a leveling off in the loss of manufacturing jobs and a bottoming of the housing market, which should be less of a drag on the economy going forward, and likely to be the source for new jobs as replacement demand for single-family and apartment housing fuels expected construction demand.

Meanwhile, corporate profits are off the charts, from $800 billion in 2000 to $2 trillion in 2011.

“Coupled with low-interest rates, companies are in a position to invest aggressively in new facilities and equipment. From a CRE perspective, Corporate America is well positioned to invest in their businesses, plant facilities and equipment,” Florance added.

Challenges remain, including relatively weak consumer confidence, continued high unemployment, a record federal budget deficit and economic upheaval in Europe. Occupancy recovery varies widely between metros, with “have” markets such as supply constrained New York City showing 7.4% vacancy and housing bust “have-nots” like Phoenix lingering at a stubbornly high 20.7%.

However, CRE values have recovered to roughly 2000-year levels, and vacancies declined across the country last year. In a strong indicator of an impending office rebound, vacancy rates declined in 63% of the 2,400 office submarkets tracked by CoStar. That’s the strongest number since 2004-05, which roughly marked the beginning of the last CRE up cycle.

In the fourth quarter, CoStar recorded 18 million feet of net absorption, which drives occupancy rates and other leasing fundamentals, and a total of 49 million square feet for the year, doubling 2010’s absorption.

Despite rising concerns about the darkening economic picture that started last spring and continued through the year, absorption rose sharply in the second half of 2011, said Page, noting that companies are leasing space “and smaller tenants, the lifeblood of the office sector, are back.”

Jay Spivey, CoStar senior director of research and analytics, said that the office recovery, while not feeling very strong so far for many landlords and investors, is actually much stronger than the recovery in the office market following the collapse of Internet companies and real estate downturn 10 years.
“We have seven quarters of positive growth, and at that same point 10 years ago, we were still seeing negative absorption,” Spivey said.

Concessions Starting to Disappear
With improving occupancy and little new supply, concessions like free rent and tenant improvements are burning off in some markets and overall, the long downward slide in average office rents has likely bottomed.

CoStar sees significant upside in office rents, which are currently 11% below their long-term trend, Page said. With office construction at an all-time low, rents will rise and are expected to reach their long-term average between 2015 and 2017.

The analysts singled out “premier” suburban areas located near the urban core in markets such as Bethesda, MD, and West Los Angeles are seeing net absorption recover much more quickly on a rolling annual average compared with CBDs or outer suburban areas. Likewise, a survey of four- and five-star buildings in CoStar’s new Building Rating System, the equivalent of the top Class A properties, shows that the best buildings are absorbing most of the space. One- and two-star buildings, typically Class C, were hammered during the recession and are recovering more slowly.

While national vacancy and availability rates are both trending down, there are vast differences within metros and within the CBD and suburban properties in those markets. In Miami, for example, the CBD vacancy rate is about 22%, while suburban and premier suburban rates are lower. By contrast, Atlanta’s Buckhead premier office suburb, where much new construction came on line as the recession hit, has the highest vacancy at over 20%, more than 6 percentage point higher than the Atlanta CBD.

Investors Explore Secondary, Suburban Markets for Deals
The return of portfolio sales outside the largest markets in 2011 shows that investors, who largely retreated to the safety of well-leased properties in safe core markets like Washington and New York over the last couple of years, are ready to assume risk in certain transactions, with the help of a slowly returning flow of debt financing.

Distressed sales volume as a percentage of total office sale transactions fell during 2011. As distress has abated, prices have begun to rise over the last couple of quarters, spreading from investment-grade properties to smaller general commercial sales, according to the CoStar Commercial Repeat Sale Index (CCRSI).

Pricing has risen in most markets and is approaching replacement cost for some buildings, Spivey noted. Higher occupancy buildings are fetching a higher price premium currently than in 2007, possibly opening a window for investors on opportunities in select vacancy challenged properties.

Source Costar Group

For More Information about Local News, Market Intel, or Commercial Real Estate Opportunities; visit www.Bryan-Cole.com

Bryan E. Cole
NAI Keystone Commercial & Industrial, LLC
direct: 610-370-8502
Bcole@naikeystone.com
Check out my new website at www.Bryan-Cole.com

About Bryan Cole and NAI Keystone

Bryan joined NAI Keystone in early 2004, but before joining NAI, Bryan Cole spent 4 year’s active duty in the United States Marine Corp, including a 6 month deployment in Afghanistan, a 4 month deployment in Kuwait/Iraq, and a 7 month deployment in Japan. Prior to joining the military Bryan was involved in the construction of commercial and multi-unit properties in the Philadelphia suburbs. Bryan has experience working with a diverse group of individuals in numerous countries throughout the world. During Bryan’s time at NAI, he has sold and leased well over $200 Million Dollars worth of Commercial Real Estate. Because of this, Bryan earned NAI gold club status his first year in the business. Bryan is currently working on earning both his CCIM designation and SIOR designation. Bryan has been NAI Keystone’s Top Performer from 2006 – 2010.
NAI Keystone is a full service commercial and industrial real estate firm located in Reading, Berks County.  NAI Keystone manages and handles approximately 4 Million square feet of commercial and industrial space in Berks and Schuylkill County.  NAI is the only firm in Berks County dedicated to strictly commercial real estate.  www.Bryan-Cole.com.

The Greater Reading Market Snapshot

A snap shot of the Berks County Marketplace by The Reading Eagle

Greater Reading market place statistics graphic

 

For More Information about Local News, Market Intel, or Commercial Real Estate
Opportunities; visit www.Bryan-Cole.com

Bryan E. Cole

NAI Keystone Commercial & Industrial, LLC

direct: 610-370-8502

Bcole@naikeystone.com

Check out my new website at www.Bryan-Cole.com

NAI Keystone is a full service commercial and industrial real estate firm located in Reading PA; We handle buyer, tenant, and landlord representation throughout Pennsylvania and with the association of our global partners we can assist in locating product throughout the country.

Consolidation Accelerates Ahead of Market Recovery

Since the beginning of 2011, there has been a torrid level of M&A activity in the commercial real estate services industry. Recently announced deals include CBRE’s acquisition of the ING Real Estate fund management business; the sale of Newmark to financial derivatives house BGC; Colony Capital’s loan and exclusive look period with Grubb & Ellis; the recapitalization of DTZ by investment group SGP and the possible follow on merger with BNP Real Estate; and the hotly rumored takeover of King Sturge by JLL. And that is just on the services side. On the information side, Argus is selling to Altus and Costar is acquiring Loopnet.

That big money is being deployed to acquire and expand existing platforms is a clear sign that the commercial real estate market is in the early stages of recovery. Key metrics show both sales and leasing volume are up and in the major markets both rental rates and asset prices have recovered sharply for core assets. But there is a long way to go for secondary markets and non-core assets. As commercial real estate climbs out of the depths of the credit crisis, industry leaders are now looking to expand their depth and breadth of coverage in order to capitalize on opportunities.

There is little doubt that the big will get bigger and more consolidation will follow. The real question remains “how best to provide service?” Is it through a large corporate bureaucracy, best-in-class local providers or some combination that provides the requisite global infrastructure, quality control and support with the best local talent and client-centric approach? Clearly some of the recent M&A activity is following familiar strategic patterns, while others are dramatic course changes.

Over the past 40 years the commercial real estate industry has grown from a local business to a global industry with each economic cycle accelerating the transformation. Now more than ever global resources and reach are critical to serve commercial real estate clients at the local level. The trick is to be able to deliver local service at the global level. Finding the balance between entrepreneurial local market expertise and the institutional strength of a global company is the key to optimizing global real estate services. In the quest for scale and market share, the customer is often lost.

As the largest global managed network of commercial real estate firms we are committed to be a driver and leader in this industry transformation, evolving to serve the ever-growing needs of our clients without sacrificing the local touch and customer care we have been known for.  Contact NAI Keystone Commercial & Industrial, LLC who is the Reading’s premier commercial and industrial real estate firm.  visit www.Bryan-Cole.com for more information.

 

For More Information about Local News, Market Intel, or Commercial Real Estate Opportunities; visit www.Bryan-Cole.com

Bryan E. Cole | Team Leader
NAI Keystone Commercial & Industrial, LLC
direct: 610-370-8502
Bcole@naikeystone.com

Check out my new website at www.Bryan-Cole.com

NAI Keystone is a full service commercial and industrial real estate firm located in Reading PA; We handle buyer, tenant, and landlord representation throughout Pennsylvania and with the association of our global partners we can assist in locating product throughout the country.