12C — July 15 - 28, 2016 — Pennsylvania — M id A tlantic
Real Estate Journal
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P ennsylvania
Markward Group inks sale of 36,716 s/f office/flex
Land is in Shippensburg, immediately off I-81 at Exit 24 MatrixDev. acquires 205 acres at United Business Park
S HIPPENSBURG, PA — Matrix Develop- ment Group has ac- quired 205 acres of industrial land in United Business Park from the Cumberland Valley Regional Development Cor- poration (CVRDC) . The land is located in Shippensburg, immediately off I-81 at Exit 24, and has been approved for the development of two warehouse facilities totaling 2,700,000 s/f. According to Dave Thomas , vice president of industrial development for Matrix, the site represented a great oppor- tunity for the firm to expand its development portfolio in central Pennsylvania. “The land in United Business Park represents one of the few sites along the I-81 corridor where large-scale industrial develop- ment is truly feasible, with great access to I-81, utility infrastructure in place, and a strong workforce,” said Thom- as. Matrix is currently among the most active industrial de- velopers in the Pennsylvania and New Jersey marketplace having developed more than 30 million s/f of industrial prop- erty. The addition of United Business Park to Matrix’s growing Pennsylvania portfolio allows the firm to offer various leasing and/or build-to-suit options. CONSHOHOCKEN, PA — Edward Ginn , a principal with Equity Retail Brokers in Conshohocken announced that he and a group of like- minded real estate practitio- ners have formed the Capi- tal Markets Real Estate Network to serve investor clients nationwide in all the commercial real estate indus- try verticals including office, industrial, retail, multifamily, self-storage and others. Several years in the making and at a time when a handful of national brokerage firms are competing fiercely with one another to dominate the commercial real estate ser- vices industry, Ginn and his colleagues are certain that the network will allow them to win business in the institu- tional and non-institutional sectors of commercial property investing, 1031 exchanges and financing. The new network is launch- ing with five firms and plans to identify and recruit broker/
UNITED BUSINESS PARK MATRIX DEVELOPMENT GROUP LOT 1D
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Group, represented the buyer, 54 SCW, LLC. Phil Schenkel , VP of JLL Bethlehem, represented the seller, 54 S. Commerce Way Associates. The building is 100% leased. n
BETHLEHEM, PA — Markward Group concluded the sale of a 36,716 s/f office/ flex building at 54 S. Commerce Way, LVIP IV, Bethlehem (shown above). Ann Kline , VP of Markward
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continued from page 4C Shell Chemical Appalachia announces finalization . . .
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20 EAST BURD STREET SHIPPENSBURG, PA 17257 BURDSTREETCENTER &ASSOCIATES CARLBERT SURVEYORS&ENGINEERS
717-532-9470
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T.L.B. PLAN: CBA NO. F-S-15-03 / C014
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NOVEMBER 24, 2015
unique. The ease of access to Interstate 81 is really remark- able, and Matrix has been very smart in the way they’ve pro- grammed these sites with tons of parking and great onsite circulation”, said Van Buskirk. He added “There just aren’t many opportunities of this caliber for building footprints at 1,200,000 s/f and 1,500,000 s/f in the Philadelphia market. We expect the sites will be highly competitive as more and more companies like Procter & Gamble (1,700,000 s/f) and Georgia Pacific (1,500,000 s/f) continue to draw on the efficiencies of scale offered by well-located large buildings able to effectively serve the Northeast and Mid-Atlantic populations.” n Said Ginn: “I know from years of experience and net- working, that networking works if you work at it and with the right group of people. The $2 million to $25 million investment and financing space is highly fractionalize and a competitive marketplace for all the vertical categories we intend to cover. However, after extensive research, ana- lytics and talking to many people in our business, my new partners and I are certain that we can offer tremendous value to investors, sellers and ex- changers to help them achieve their investment goals.” Ginn has been and remains an active participant in the Retail Brokers Network, a national network with over 60 offices dedicated to all the seg- ments of the retail brokerage business. He has previously served as president, North- east Executive Committee Member, Board of Directors, Treasurer and Investment Sales Council Leader. n
Dave Sciamanna , executive director of CVRDC added “We are excited to have a devel- oper of Matrix’s quality associ- ated with the United Business Park. They did a phenomenal job with the World Kitchen property in southern Franklin County, and their presence in the park brings highly competi- tive, large scale, vertical devel- opment capability to the table.” Matrix was represented by Lee & Associates of Eastern Pennsylvania in the transac- tion, led by Brian Knowles and John Van Buskirk . Recently tapped by CVRDC to handle the marketing on the remainder of the park, Knowles and Van Buskirk will also be promoting the Matrix sites for lease. “These sites are • Equity Retail Brokers (Philadelphia)a retail focused brokerage firm; Edward Ginn, Ken McEvoy and Bart Delfiner • Bennett Williams Com- mercial (York and Lancaster – full service commercial bro- kerage, NNN Multi-Tenant Retail Sales specialists); Chad Stine and Brad Rohrbaugh • The Flynn Company (Philadelphia – full service commercial brokerage and office/industrial specialists); Colin Flynn • Duquesne Commercial Funding (Philadelphia – mort- gage brokerage services); Ge- rard O’Malley and Tim Mc- Ginley • May Realty Advisors (Los Angeles, CA – NNN Multi-Tenant Retail Sales specialists); Matthew May
said Joseph Otis Minott, the council's executive director. The governor said Shell would do the right thing. "They're not in this to do something in the short run," Wolf said. "They're making a long-term commitment to Pennsylvania. I think they are as aware and as sensitive to the environmental concern as anybody is in Pennsylvania." Source: Andrew Maykuth Philadelphia Inquirer – 6-8-16 RT is proud to have played a part in a number of proj- ects which will help move the cracker plant along. A pipeline is ready to be extended from Beaver County to Washington and in the Washington area, we have worked to obtain permits for gathering lines which are likely to feed the wet gas which is prolific in the Washington area, near our office, through the pipeline northward to the new cracker plant. Pipeline materials for the project are being received at one of the sites we have worked on in Bea- ver County as part of a major Brownfields Redevelopment project. Furthermore, Brown- field Act 2 activities are being wrapped up at a site along a major railroad in the region, so that materials and equipment to build the plant can be stored and used daily to facilitate cracker plant construction. RT appreciates the opportunity to help move Pennsylvania for- ward and use cleaner energy to support large scale manu- facturing, which Pittsburgh has always been known for. RT’s key project personnel include Justin Lauterbach (ph: 215- 909-0056, email: jlauterbach@ rtenv.com) and Chris Blosenski (ph: 724-674-9089, email: cb- losenski@rtenv.com). Gary R. Brown, P.E.is President of RT Environ- mental Services, Inc. n
to manifest itself in ways we can't envision right now," said David N. Taylor, president of the Pennsylvania Manufactur- ers' Association. Shell said the plant's location, within 700 miles of more than 70 percent of North American polyethylene customers, was a deciding factor. As the only plant in the east, Shell could have a logistical advantage over Gulf Coast competitors. Shell Chemicals announced in 2012 it had identified the 340-acre former Horsehead zinc plant site on the Ohio River, but delayed making a final investment decision while it completed its due diligence and studied its options. It has committed more than $100 mil- lion to buying and remediating the site. Similar projects have been delayed or canceled in the last year because of the plunge in oil and commodity prices. "Shell's decision to move for- ward with this world-class facil- ity, which will put thousands to work across our region through utilizing clean-burning domes- tic natural gas for decades to come, is welcomed news, es- pecially given the challenging market conditions," said David Spigelmyer, president of the Marcellus Shale Coalition. Shell's ethane cracker, whose energy needs are so great it will require its own power plant, will become a major source of air pollution, a sore point with environmentalists. The Clean Air Council ap- pealed state permits issued last year that do not require Shell to install air monitors at the plant's perimeter. "Shell has even installed fence-line monitoring at other facilities it operates, but has so far refused to use it at the proposed cracker facility here in Pennsylvania,"
Capital Markets Real Estate Network goes live members in dozens of primary, secondary and tertiary mar- kets nationwide in the next few years. The founding firms and members are:
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