14A — March 29 - April 11, 2019 — M id A tlantic
Real Estate Journal
www.marejournal.com
M id A tlantic R eal E state J ournal By John Buccinno, CCIM SIOR, NAI Keystone Commercial & Industrial, LLC What’s Happening in Wyomissing and West Reading?
he Boroughs of Wyomiss- ing and West Reading, PA are getting a positive jolt to their already vibrant main street Avenue scene as amassive redevelopment referred to as The Knitting Mills at Wyomiss- ing is happening at the former VF Outlet site. Equus Capital Partners, headquartered in Phil- adelphia, started looking closely at the site in tandem with NAI Keystone who, as the Tenant Representative of UGI Energy Services, identified the area as a potential opportunity for their new headquarter relocation as- signment. In a spectacular plan to preserve as much of the iconic look and feel of the original buildings, approximately half of the existing building area has been taken down to open up parking, green space and pedestrian circulation, with UGI occupying about 146,000 s/f of the former “Blue” building T The idea of simplicity in our interiors continues to resonate with the many of us and is ab- solutely reinforced in our living spaces - the way we live and function; what our environment looks like; and what pieces we surround ourselves with. From an interior design perspective, the increasingly popular mod- ern style addresses this idea of simplicity and highlights elements like streamlined fur- nishings, natural materials, and lack of clutter. Traditionally, architects com- municate modern design in a simple form. Clear views of structures with open spaces are developed with no decorative details. Concrete and struc- tural beams are left exposed. Elements like glass, wood, and steel show off the design while supporting the concept of form follows function , (the shape or attractiveness of a design element should come from the search for the function rather than the use of the decoration). So, what do we see today? Living spaces and home set- tings have become a retreat from the commotion both politi- cally and environmentally. The characteristics of the modern style are still prominently used, only now, the interior living environments are designed with materials that are organic and provide a casual, comfort- able aesthetic. Materials such
Brewery. Approximately 24,000 s/f remain that are targeted for supportive retail, such as restaurants and a particularly high priority, a specialty grocer geared toward gourmet style prepared foods, fresh produce and desirable staples. As the delivery of modern office space occurs, profession- als, support staff and upper management employees will start to swell the day time population which in turn will provide patrons for local busi- nesses and spur the opening of additional local amenities. Discussions are already under way with restaurant operators, brew houses, café’s, general mer- chandise shops and health and wellness centers to locate their businesses within walkable dis- tance to the main Penn Ave. and N. Park Rd. intersection. The retail landscape of the area will continue to improve and add to In addition to an experiential, modern style, here are some ad- ditional Best of design features: - White kitchen cabinetry re- mains most popular; as well as the use of cabinetry with warm wood tones, or accent colors like blue and gray. - Mixing metal finishes are still prevalent; we now see a combination of finishes with different sheen and texture; we enjoy the combination of matte black, antique brushed gold, and honed stone. - Geometric patterns have moved from fabrics and art- work to tiles and wall covering. - Black is the new Black. Black accents are trending from painting a focal wall, (in a well-lit room), to appliances and hardware. Try matte black fixtures in kitchens and baths. - Don’t forget the fifth wall. Ceilings are painted and pa- pered. Also designed with ex- posed beams, ship lap and millwork patterns. - Greenery in color and plant form help us reconnect to na- ture. More use of Living walls and live plants is evident; we also see the use of green up- holstery, wall covering prints and fabrics. Gacek Design Group is a leading interior design and architectural consulting firm for those who value expertise and partnership in design.
the already impressive features currently available along Penn Ave. in West Reading and fur- ther west at The Works, Bldg. 24, Brickstone’s Mighty Fine Food & Spirits, and Russo’s in Wyomissing. Along with the office and retail segment there’s additional excit- ing news for the immediate area. Currently over 250 higher end apartments are either proposed for construction or recently com- pleted within walking distance, some in West Reading and some in Wyomissing. The new supply of apartment units are coming from the re-purposing of two iconic buildings, the former Narrow Fabrics building in West Reading and the former Arrow International building in Wyomissing. The conversion of these buildings into high end, professionally managed apart- ment complexes will contribute to a true live, work, and play
opportunity. In today’s quest for talented employees, businesses have placed a high priority in providing a comprehensive living environment to attract and retain a modern work force that can meet the challenges of a rapidly changing world. As more millennials opt out of commuting, even driving at all, a greater emphasis is placed on public transportation and walkability to their jobs, shop- ping and entertainment centers. Berks has so much to offer in the form of recreation, comfortable living environments, and good proximity to major metro centers that adding good jobs in a work, live, play environment could be a game changer for the future of these communities. John Buccinno, CCIM SIOR is Senior VP Client Services at NAI Keystone Commercial & Industrial, LLC.
The Knitting Mills redevelopment facing Penn Ave. as the stand alone “anchor” to the project. The other major tenants at this location include Tower Health administrative headquarters along with VF Corp that com- bined make up approximately 180,000 s/f of high-end office space. Four smaller “annex” buildings along Hill Ave are mostly committed to with local firms such as Orthopedic Asso- ciation of Reading and Sly Fox as raw woods, leathers, and natural fibers that are light in tone, coupled with a neutral earthly color palette to bring nature to the indoors. Reflective surfaces like chrome and glass are simple and clean. Simple linen or woven blinds, (or little to no window coverings), bring warmth and natural light into the space. Furniture with mini- mal detail, straight lines, and few curves; and a less is more approach to accessories like vases, collections, pillows, and blankets complete the look. Simplicity, harmony, and well- ness are integrated to create both residential and commer- cial designs that resonate. Commercial interiors have also taken a more prominent role in the development pro- cess. From retail stores with coffee shops and spas, to shared workspaces that look like liv- ing rooms, the lines between work and leisure are becoming increasingly blurred. Amenity and hospitality spaces are more elaborate, well thought out, and designed based on lifestyle pref- erences. Successful commercial interiors tell a story and offer an experience...this concept has been something that we at Gacek Design Group have been touting for a few years now. In 2018, we see this Experiential Design as a trend that supports a differentiated product in the marketplace.
Gacek Design Group: Best of 2018 in Interior Design
The Kislak Company, Inc. sells 37 units in Newark, NJ
32 Dayton St.
377 Clinton Place
rate of 7.1%. The Dayton Street property is a four-story brick apartment building of recently renovated apartments across from We- equachic Park. The property houses 19 one-bedroom and 2 two- bedroom apartments with onsite laundry. The former owner had made several capital improvements to the building including new kitchens, win- dows, electrical panels, boiler and roof. The Clinton Place property is a two-story brick apartment building with 12 one-bedroom, 3 two-bedroom, and 1 three- bedroom units, housed under a newly replaced roof. Both properties are ideally situated in a prime location in the Day- ton neighborhood of the South Ward section of Newark.
NEWARK, NJ — The Kis- lak Company, Inc. announced the recent sale of two multifam- ily properties with a total of 37 residential units in Newark for $2.46 million. The sale included a 21-unit property at 32 Dayton St. and a 16-unit property at 377 Clinton Place. Kislak marketed the proper- ties on an basis with sales asso- ciate Michael Salomon han- dling the assignment. Salomon also procured the purchaser. The parties’ names were not disclosed. “This sale exemplifies the continued strength of the New- ark multifamily market,” said Salomon. “The city’s renais- sance continues and, as a re- sult, multifamily investments remain strong.” The properties sold at a cap
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