EFTA00301507.pdf

WEST SHORE THOMAS T. POSAVEC. SIOR FIRST QUARTER MARKET LISTINGS MOBILE • 2 ,1'; LAND/NARK COMMERCIAL REALTY INC. THOMAS I POSAVEC. SIOR Vice President 20Edord Road 17043 ri•r l•I l lr•Ll ic•sl Otto Mobile vAinv.landmarku.com 4640 hinge Read. Camp MU PA. riID IrJE Itt1 51 MARKET AVA Ice: 'te .c:'.v -cs dace DESIGN & MARKETING: CAW.n CAW. 1,31 I lay atul ta bt ,WI,l4(11YI iattpary's mathan pa% nith an.eiranr Mgt, RENTAL RATES SURGE msetas Isty rho art Markets showed no sign of a slowdown as absorption totaled 151050 sq. ft. in the First Quarter of 2012. continuing a surge which began early in the First Quarter of 2010. Ames In the past nine quarters more than 450.000 sq. R. of office space has been absorbed. it's second best performace in I8 years. This solid run coupled with 5C71 Louise DIM! I/ iar Jut _rn PA improving inventory levels and rising asking rates are solid indications that market fundamentals have finned and should continue to remain favorable 1000 N. Front Street. Wonnleysinng, PA. NM But Medualcsberg, PA. for 2012. J.. LC:ce .1.3: Hse 16,000SF office building available for sale. I MARKET ANALYSIS 01 - 2012 The absence of significant development coupled with continued high construction 11 1•11 1 IC 13 , ...s SF for lease. Piked to move a costs should benefit the leasing market going forward. The market continues to demonstrate that even with rising rental rates and record low interest rates. 1510 drh 0 Sid 0 2nd 0 1:10 Number 2012 2011 2011 2011 2011 Yen End 1x102012 the flexibility of leasing versus ownership remains the preferred avenue for of Tcaal Total Deep. Ocala. °scup. Octup. Ocoee. Current Absorption Buildings Imentety Available Rate Rale Rate Rale Rate Ashy Rant' in SF consumers at this time. CITY This study now analyzes over 1.000 properties encompassing over 17 million One Sterling Place. Alechanicsbwg. PA Class A 21 1,498,475 106,900 93% 93% 92% 93% 94% $1750423.03 500 sq. ft. and is arguably the most accurate measure of occupancy and rental rates Class 84 59 1.622.742 171.600 90% 89% 89% 88% 90% $15.50-517.50 12.650 available to the Mid State. We are humbled that so many of you rely on the solid Class B 178 1.551.749 143.501 91% 89% 90% 89% 89% 513.00-S15.50 23.300 information which has been prepared in this analysis over the past 18 years. TOTAL 258 4.712.966 422.001 36.450 We will continue to be the only firm to provide quarterly market information on EAST SHORE office and business park properties with unsurpassed accuracy going forward. Class A 46 1,773,672 112,700 94% 93% 93% 92% 94% $17.80422.50 11.000 145 llwiekk Read, New Cumbettaral, PA 20 EMS Read Lame, PA 3 N. 21 Shad, lap MR, M. Class B. 87 1,852,421 185,076 90% 87% 86% 87% $15.95-517.80 13.500 4.500to 14.015SFofficellex evadable. Up to 1500 SF for lease. Cowed parking. 600SF 3.930SF to :ratable. New suites. Class B 144 1884,189 133,000 92% 92% 92% 91% 91% $13.75-515.95 22.600 Easy acess. FHB class finches. Pike to lease. Great rates. Small suites. Immediate exup3nr.,.. Urge mrdoos Covered parkin? Bste. vees Class C 55 417.825 30.650 93% 92% 87% 87% S11.20-$13.75 4.000 THOMAS T. POSAVEC, SIOR TOTAL 332 5.628.107 46t,426 51.100 Vice President 4250 Calms Mill Road. Harrisburg. PA WEST SHORE Landmark Commerical Reality. Inc. Class A 63 2,256,340 122,236 95% 94% 93% 93% 91% $17.95422.50 23,800 Olliee 718 N Front St. FINANCIAL CENTERS Class B. 113 2.427,390 138.944 94% 93% 93% 93% 93% $15.80417.95 24,700 Wormleysburg, PA 17043 CENTRIC Class B 164 1,858.061 101.225 95% 94% 94% 93% 94% $14.25415.80 10,400 Mobile 14 /9. BANK Class C 90 473.028 44500 91% 89% 91% 89% 92% $12.00414.25 4.600 "Serving Central PA Since 1993" TOTAL 43; 7.014.819 406.905 634) ■ Commercial • Industrial • Estate Valuation MI Financing GRAND TOTAL 1,020 17.355.892 1.290.332 •Ercluding interior. uite fanitorkil!mica 151,050 ■ Residential Developments • Tar Assessment • Land • Condemnation I 11S% F R PS )(TON CAMP HILL SILVER SPRING 3605 Varian Way. Harrisburg. PA • Apartments • Litigation Yul is:5 Starlet urns AIM 4 arIlde Pee Iv darxeldwa.wczeidst auldLawn. re nay stunt Mauro ra rditets area nza Nowt, Nenen....t It zed • ••1 • Churches • Easement Evaluation •ten Innis has <3. 'Frs.. s ...s....s.lowlarcesterawlsweacleamtv/u1r st&odtd VI, ,,fteme Wit< • Mahan...bun. PA I 'WO ci 111 ••••••••imom man tress O w,. <atria Loynd Cornz.i Si. Itr ein. remold* armed d aialI' dere Mei litit*VONI.,,r1,34.”011.14.4.44),IMP, ),,Caln s un mwdmeszedidrolerill f•dc• Id al fawarted how tail IS reirit.• • • COIMPIIIIka MittINrine&et is. Yo Landmark Commerical Realty, Inc. • 20 Ertord Road, Lemoyne, PA 17043 • mvw.landmarkccco 1oral Knouledge... Local Relationships. Building tr ust. EFTA00301507  THOMAS T. POSAVEC, SIOR EAS HORE POSAVEC S MARKET SUMMARY POSAVEC S FEATURED PROPERTIES MOBILE • MARKET LISTTINS GS DOWNTOWN BUSINESS DISTRICT EAST SHORE BUSINESS DISTRICT WEST SHORE BUSINESS DISTRICT After a difficult 2010 and 2011 which produced staggering losses.activity After a solid Fourth Premier properties continue to outpace much of the remaining segments improved sharply in the First Quarter of 2012 as absorption totaled an Quarter in 2011 which on the West Shore Business District as the -Right to Quality" continues. impressive 36,450 sq. ft. fueled by excellent demand from users in Class produced terrific ad- Absorption totaled a remarkable 63.500 sq. ft. in the First Quarter of 2012. B+ and Class B segments. Demand for Downtown properties increased vances totaling nearly Occupancy rates for Class A properties rose to 95% in the Fast Quarter of significantly over the past several weeks, a positive sign for a makes 71.000 sq. ft.. the 2012 and absorption totaled an impressive 23.800 sq. ft. The Lack of large which has received much hod press in recent months. East Shore Business availabilities and the continued increase in expansions help push figures District continued its Activity from Class A tenants was less apparent in the First Quarter higher. Few large suites remain and severaldeals arc in the works to occupy surge as absorption as absorption totaled only 500 sq. ft. Occupancy rates remain at 93%. these first class offices. Prices have finned substantially in recent months totaled 51.100 sq. ft. Demand for these premier properties remains inconsistent and the and unless a building is troubled. this should be the trend throughout the 3601 Vane, Way. Hunan, M. 2745 N. Front Strout, Ihrldmq, PA 4WI7-4313 Mutes Road, Imebburg, PA. 2M01ita Nu, Nathan, PA. Gains were realized departure of Buchanan Ingersoll from the M & T Bank Building located remainder of 2012. 14.000 SF r sale or lease. Owner will divide. Terrific location in the Approximately 6.600 SF available for immediate 1.050 to 2,100 SF available. Tenific smai suites. 15.000 to 50.000 SF available immediately. across the board from at Second and Market Streets later this year should put additional pressure heart of the East Shore. Spectacular windows. Ample parkng. occupancy. Great views. Free parking. WM aide. Rare opportunity for signage. Upgraded finishes. Close to all areas. Great rates. Excellent padog all segments of the marketplace with the Class B segment showing some of the Demand for Class on first class properties throughout the remainder of 2012. strongest momentum. B+ properties on The Class B+ segment showed signs of improvement in the First Quarter the West Shore Occupancy rates for Class A properties rose to 94% as absorption totaled II.00O of 2012 as occupancy rates rose to 90% and absorption totaled 12.650 sq. continued to sq. ft. Demand for the former Crump Insurance property helped fuel these ft. Demand for high rise towers fueled much of this activity as tenants ttrnain vibrant as advances as over 44.000 sq. ft. has been re-leased since the firms departure flocked to some of the best B+ product in the market. Furthermore. absorption totaled last October. Rental rates are firming, concessions fading and occupancy levels several historic properties remain available for those who can make a 24.700 sq. ft. and rising as demand continues to impress. substantial commitment to the marketplace. Prices for these properties occupancy rates continue to adjust and activity should increase in the upcoming months. Absorption for the Class B+ segment totaled 13.500 sq. ft. in the Firs Quarter rose even higher of 2012 pushing occupancy rates to 90% in the process. Only a few properties to 94%. Some Class B occupancy migration from the continue to undermine this segment and activity on these office buildings has rates rose sharply in been brisk in recent weeks. Demand from new firms is a welcome sign going Downtown Business District can be attributed to these gains coupled with the First Quarter of forward in 2012. Several new limn have opened small to medium sized offices an improved marks in general. With few new availabilities anticipated 2012 as absorption ova the next quarter. the immediate future remains stable. Rental rates are 210.2040 limitation bad, Nanishum, PA. 4587 N. Frost Strut, Ituddirg, PA 271M Comma WS, Narrlabuq, PA. 4201 dams 1111Read, Nantsburg, PA. in the mid-state in recent weeks and based on current activity levels this trend totaled 23,300 sq. 1.000 to 6,000 SF available. Various sizes. New suites with 2200 to 12.000 SF available for immediate occu- 8.000 SF medical office side. Approved surgical 2.200 SF available for lease. Healy should continue. reaching levels not seen in neatly four years as options for users dwindle. n. Occupancy rates fast class finishes. Great puking Close load areas. pancy at this first-class office. Spectacular vine. center. Thousands in finishes. Priced below medal. renovated. Great windows. Head of Colonial Park. reached 91%. their Solid demand from Class B users pushed absorption to 22.600 sq. n. in the First The Class B segment reached their highest levels in years closing the First highest levels in Quarter of 2012. Occupancy rates remained at 92% as availability continued Quaver of 3312 at a remarkable 95%, up significantly from the previous several quarters. as to dwindle and large suites became more scarce. Much of the remaining Class year. Absorption totaled a healthy 10.400 sq. n. as users flocked to well demand from less B inventory consists of suites from LON sq. ft. and below. Underwhelming maintained properties with solid locations and amenities. If demand premier users finally properties with poor management will continue to underperfonn and get passed pasists.construction remains limited and no significant availabilities come surfaced. Fewer ova as sophisticated landlords make deals. on line, the segment can continue to thrive. large suites remain, The demand for ClassCpropenies on the East Shore was more modest in the First The Class C segment managed to absorb 4.600 sq. ft in the First Quarter of most under 3400 sq. ft.. and as owners make necessary concessions Quarter of 1312. Absorption totaled 4100 sq. ft. and occupancy rates reached 2012. Occupancy rates climbed to 91%. Excellent values remain for users tenants should continue to respond. The outlook, while uncertain. can 93%. Fewer availabilities remain at these less sophisticated properties as buyers looking to enter the office market at rates far below higher priced, more continue to stabilize should pent up demand remain at current levels and an: acquiring buildings. utilizing remaining availabilities and creating value. modem properties. no si eni 'leant new vacancies arise. Wail - 6645 IMsy bhp, Cap ROI, PA. 3706 Emma Idea, linridng, PA 614 N. Front Street, Ibraderg, PA 22MYutal Way, Parishes, PA. 12,030 to 50.000 SF for immediate occupancy. Owner will divide. 15,574 SF available for sale or lease. IT firm's 1.300 to 10.000 available. On-site parking. 1.190 to 4.850 SF for immediate occupancy. Terrific location in the Man of Camp Hill. Abundant on-site parking. - Infrastructure for fechookigy company. Spectacular finishes. Across horn YMCA. Execptional location. Ample parking Lays 011iceN of ----- Cabling Requirement Customized Solutions. fare. Si* 1(0 Pt 1711 GATES, HALBRUNER, A- rdAti -GUISE, P.C. 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