6B — March 16 - 29, 2012 — Pennsylvania — Mid Atlantic Real Estate Journal
www.marejournal.com
C ENTRAL PA
By Russell J. Bardolf, Jr., CCIM, SIOR, ROCK Commercial What does it take to bring a property back to life?
I
magine yourself, as a real estate broker, in the following scenario:
The 62,000 s/f building at 210-236 York Street in the City of York in Pennsylvania dates back to the early 1940’s with various ownership and uses. This list includes a publishing and typesetting company, a youth center that didn’t come to fruition, then changed into the hands of a residential developer, and finally landed with local inves- tors that bought the building in 2008. These investors were able to rent some of the space in the building and searched, with the help of ROCK Com- mercial Real Estate, for more potential tenant and buyer
opportunities. The key to the recent sale of this particular building and its future redevelopment was found outside of the normal marketing efforts. Creative thinking, an interest in their hometown, and the ability to invest substantial money in the building were the in- gredients that Think Loud Development, made up of former “Live” band members and current “The Gracious Few” band members, brought to this project. It is the home- town investor’s connections; along with input, motivation and vision that will bring this
York Street property back to life. The times are a changing and companies from across the country may be buying the building right down the street. Investors that have a larger field of vision can see redevelopment on a scale at which we are not accustomed to seeing at a local level. Think Loud Investments used their global connections to make this project a reality for their vision and the City of York. The lesson learned is that the professional real estate broker of today is firmly con- nected to the immediate area
it serves and at the same time is able and willing to use all the dynamic technology and marketing tools available to reach a borderless market of buyers and tenants. Some- times you create your own good luck. Russell J. Bardolf Jr., CCIM, SIOR is director of sales at ROCKCommercial Real Estate. Russ special- izes in office and invest- ment real estate sales. He has over 30 years experi- ence working in several positions in the real estate and the development in- dustry. ■
Wh a t d o y o u d o t o m a t c h a buyer with a 6 2 , 0 0 0 square foot former man- u f a c t ur i ng building in d o w n t o w n
Russell Bardolf
setting that has limited park- ing, has been mainly vacant, and missed the bubble of op- portunity for conversion into residential living spaces? You hope to get lucky.
RELY ON ROCK
ROCK leased 7,394 s/f in 3 transactions
250 Fame Avenue
CENTRAL, PA — ROCK Commercial Real Estate, LLC leased 7,394 s/f to fit location and space needs for a local HVAC and Plumbing company, insurance agent, and orthopedic and spine specialist. Please see the detailed transaction infor- mation below. Axel Mechanical, LLC. leased 3,230 s/f of light man- ufacturing space at 1569 West King St. in York, in West York Borough. ROCK Commercial Real Estate, LLC represented the land- lord and the tenant in this transaction. ASK State Farm agent Damon Garon leased 2,154 s/f of of- fice space at 2139 Industrial Highway in York, in Sprin- gettsbury Township. ROCK Commercial Real Estate, LLC represented both the landlord and the tenant in this transaction. Orthopaedic & Spine Spe- cialists, P.C. leased 2,010 s/f of medical office space at Hillside Medical Center at 250 Fame Ave., Suite 204 in Hanover, in Penn Township. ROCK Commercial Real Estate, LLC represented the landlord in this transac- tion. ■
The Power of Team . For in-depth market research . For fast service that saves time and money . For timely and accurate information . For a unique team-based approach to commercial real estate
ROCK Commercial Real Estate, LLC, Susquehanna Commerce Center West 221 West Philadelphia St. Suite 19, York, PA 17401-2992 717-854-5357 Fax: 717-854-5367 www.rockrealestate.net
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