10D — January 25 - February 7, 2019 — 2019 Forecast — M id A tlantic
Real Estate Journal
www.marejournal.com
I ndustrial CRE
t Sheldon Gross Real- ty, we’ve represented the owners of com- By Jonathan Glick, Sheldon Gross Realtors Forecast for 2019: Multiple reasons for optimism, beginningwith vibrant industrial sector A estate values. • Medical office space pristine condition and price them appropriately, based on the current market.
dustrial real estate remains our industry’s strongest sec- tor – both in terms of demand and value. From the largest to smallest facilities within a one-hour drive of New York City and the Port Author- ity shipping terminals, com- panies are currently hard pressed either to lease or purchase properties that ad- equately address their needs. Barring some unforeseen negative economic develop- ment or a geopolitical event with unpleasant repercus- sions for the U.S., 2019 will be another banner year for real
owner’s willingness to devote time, energy, and the neces- sary financial resources to clients. Owners who’ll follow this advice typically secure a long-term tenant with above- average credit. • Office As 2018 was wrapping up, we saw significant renewed interest from companies look- ing both to lease and purchase office space. This particular sector has been sluggish for quite some time, and the land- lords and/or sellers who enjoy the most success will be those who keep their properties in
Transactions are getting done in this sector, though not with the same frequency as was the case prior to the Affordable Care Act – and I believe this will continue to be the case in 2019. Multiple dynamics enter into play when negotiating a transaction with the primary players here, which include individual practitioners, medical groups, surgery centers, and emer- gency centers. Aside from location, the primary indica- tor of success is a property
mercial prop- e r t i e s and bus i ne s s e s for nearly 70 year s , and we ’ r e c on - fident 2019 will see a con- tinuation of the positive momentum from 2018. Here are some highlights: • Industrial There’s no doubt that in- Jonathan Glick
I’m comfortable forecasting favorable things for 2019, and look forward to getting the very best possible outcome for each of our clients in the commercial/corporate real estate sector. It’s going to be a good year. Jonathan Glick is ex- ecutive vice president at Sheldon Gross Realtors. Colliers facilitates sale of last land site in Forks Industrial Park IV EASTON, PA — Ryan Dietrick and Kelly Berfield of Colliers International’s Allentown office facilitated the sale of the last remaining 6.6 acres of raw industrial zoned land known as Conroy Place Lot 6 in the Forks Industrial Park IV on Conroy Place and Uhler Rd. in Easton. Colliers represented both the buyer and the seller in the $625,000 sale. Buyer, Triple Net In- vestments LII LLC intends to construct a build-to-suit industrial facility for a future occupant on the site. With construction of the property, the park will be considered fully built out. Tenants include Martin Gui- tar, Easton Coach, Daniels Health, Kensington Home Fashions, TorcUP Inc., Kadco Ceramics and Curries. The site is just two miles from the Charles Chrin Interchange and the adjacent Chrin Com- merce Centre, an area eco- nomic driver home to Amazon, Mondelez, Porsche, FedEx and others. In a separate transaction, Berfield and Dietrick facili- tated the sale of 29.5 acres of land in Bethlehem Twp., Pennsylvania. The team rep- resented both the buyer, River Hills Estates LLC, affiliated with Cahill Proper- ties, and seller Joanne Turocy in the sale which occurred on January 4th of 2019. The parcel enjoys quick access to Route 33, I-78 and Route 22 and is just minutes to St. Luke’s 500 acre Anderson Campus which features a108- bed hospital, state-of-the-art cancer center and medical office building. The site allots multiple uses under zoning and future plans for the site have not been finalized.
We Have The Perfect Location For Your Business
KEYPORT – INDUSTRIAL SITE
EDISON – FOR LEASE
FOR SALE
WAREHOUSE SPACE AVAILABLE 57,000 +/- Square Feet – 5 Loading Docks 1 Drive-in Door / 22 Foot High Ceilings / Excellent Location
14.5+/- Acre – Multiple Bldgs - 73,400 +/- Sq. Ft. Secure Fenced Site with outside storage
OCEANPORT – FOR LEASE WAREHOUST SPACE AVAILABLE 5,607 to 40,848 +/- Square Feet - Will Divide Perfect for a “Last Mile” distribution hub
CLARK – OFFICE SPACE SUBLEASE
4,139 +/- Sq. Ft. Office unit available for sublease Excellent location minutes from GSP & NJ Turnpike
The information contained herein has been obtained from sources considered reliable, but no guarantee of its accuracy is made by this company. Subject to errors, omissions or withdrawal without prior notice.
SHELDON GROSS REALTY, INC. REALTORS ● Corporate Real Estate Services 80 Main Street, West Orange, NJ 07052 Tel.#973-325-6200 - Fax.#973-325-9090 www.sheldongrossrealty.com
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