www.marejournal.com P ennsylvania S potlight C entral PA Jacobs, Rohrbaugh, and Stine represent Montgomery Acq, LLC in retail lease Bennett Williams Commercial brokers 28,180 s/f of leases and 32,782 s/f/162.78 ac of sales Y ORK, PA — Bennett M id A tlantic Real Estate Journal — Central Pennsylvania — December 9 - 22, 2016 — 5C
Equipment & Supply, LLC leased the property from Jin Jou Meighen. Bob Behler of Bennett Williams Commercial represented the tenant and Keith Kahlbaugh of Bennett Williams Commercial repre- sented the landlord. 544 s/f retail space at 1501 Mt. Rose Ave., Spring Garden Twp. Mamdough Zaki and Aiman Salman leased the property from Dino and Ev- elyn Pritsios. Ian Freiert of Bennett Williams Commercial represented the tenant and Abe Khan , Rohrbaugh, and Stine of Bennett Williams Commercial represented the landlord. 1,270 s/f retail space at 1 N. Main St., Hughesville Bor- ough. Majid Syed leased the property from National Re- tail Properties Trust . Khan, Rohrbaugh, and Stine repre- sented both the tenant and the landlord. Sales: 1,402 s/f office building sold at 2126 Columbia Ave., Manor Twp. PMR Investments, LLC purchased the property from Walters Properties, LP. Behler represented the buyer. 10,000 s/f retail building sold at 300 Memorial Hwy., Dallas able rental structures. We remain impressed with the traction in this segment as it has absorbed over 22,000 s/f since the First Quarter of the year. The class B+ segment saw absorption total negative 500 s/f as occupancy rates re- mained unchanged at 92%. Rental rates continue to re- main at favorable levels in spite of pressure from several buildings just out of receiv- ership coming back on the market. We anticipate a solid push toward these properties over the next several weeks and expect further stabiliza- tion to follow. Class B occupancy rates remained stable at 92% as absorption totaled 8,100 s/f .
Borough. SMK Real Estate Dallas, LLC purchased the property from National Re- tail Properties, Inc. Khan, Rohrbaugh, and Stine repre- sented both the buyer and the seller. 71 AC of land sold at 15617 Whitcraft Rd., Shrewsbury. Steven Lightner purchased the property from Roy Morrison. Brian Parrish of Bennett Williams Commercial repre- sented the seller. 90 AC of land sold at 84-90 Zions View Rd., East Manches- ter Twp. Principo Site F, LLC purchased the property from J.G. Leasing Co., Inc. Kahl- baugh represented the seller. 1.78 AC of land sold at Shrewsbury Commerce Park, 549 N. Constitution Ave., Shrewsbury Twp. MBC De- velopment, LP purchased the property fromDAK Properties, LP. Hagerman, Rohrbaugh, and Stine represented the buyer. 21,380 s/f retail building known as Hartzdale Plaza, sold at 3300 Hartzdale Dr., Lower Allen Twp. RYP Prop- erties, LLC purchased the property from Koskap Part- ners. Rohrbaugh and Stine represented the seller. n Over 25,000 s/f has been absorbed in the past three Quarters and projections for the remainder of 2016 appear favorable as smaller users continue absorb inventory and further stabilize East Shore Business District. We expect continued expansion and de- mand should remain intact and we anticipate no signs of a pullback in this segment of the marketplace. The West Shore Business District continues to impress as absorption figures totaled 36,950 s/f in the Third Quarter of 2016. This marks the second con- secutive Quarter of significant gains for the West Shore after negative returns were realized continued on page 8C
Williams Commer- cial has arranged the sale/lease of the following transactions: Leases: 1,800 s/f retail space at Carlisle Commons, 250 Noble Blvd., Carlisle Borough. Fire- house Subs leased the prop- erty from Carlisle Commons, LLC. An agent of Bennett Wil- liams Commercial represented the tenant in the transaction. 2,500 s/f retail space at Chambersburg Towne Ctr., 1025 Wayne Ave., Cham- bersburg Borough. Power Train Sports leased the prop- erty fromGlazer Investments, LLC. Bill Hess of Bennett Williams Commercial repre- sented the tenant. 1,500 s/f retail space at Manor Ctr., 1204 Millersville Pike, Lancaster City. LaXvi Threading & Spa leased the property from Montgomery Acq, LLC. Mark Jacobs of Bennett Williams Commercial represented the tenant and Jacobs, Brad Rohrbaugh, and Chad Stine of Bennett Williams Commercial repre- sented the landlord. 2,250 s/f retail space at Shoppes on Quentin, 1451
Manor Center
Quentin Rd., North Cornwall Twp. Chipotle Mexican Grill of Colorado, LLC leased the property fromPrinicipo Health Ctr., 1, LLC. Rohrbaugh, and Stine represented the landlord. 720 s/f retail building at 4103 Carlisle Rd., Dover Twp. The Finishing Stitch leased the property from Jerry and Ellen Shaffer. Karen Neiderer , Stine and Rohrbaugh of Ben- nett Williams Commercial represented both the tenant and the landlord. 7,250 s/f retail building at 3076 Carlisle Rd., Dover Twp. Credit Connection Auto Sales, Inc. leased the property from Denny’s Self Storage, LLC. Neiderer, Stine and Class A occupancy rates remained unchanged at 92% as absorption totaled nega- tive 3,500 s/f Over 25,000 s/f had been absorbed over the past two Quarters and we anticipate market fundamen- tals to remain favorable going forward. Only a few larger properties continue to lag the market as a number of pending transactions are expected to be consummated in the weeks ahead which should push oc- cupancy rates higher. Class B+ occupancy rates increased one percentage point to 90% as absorption totaled 14,700 s/f available inventory continues to remains high as a number of buildings remain for
Rohrbaugh represented the landlord. 1,358 s/f office space at Ea- gleview Corporate Ctr., 690 Stockton Dr., Uwchlan Twp. Birch Run Investments leased the property from Hankin Group . Hess represented the tenant. 7,000 s/f retail building at 1781 Wilmington Pike, Chadds Ford Twp. Advance Auto leased the property from 9th and Highland, LLC. Adam Hagerman , Rohrbaugh, and Stine of Bennett Williams Commercial represented the tenant. 1,988 s/f retail building at 20 N. Harrison St., City of York. Tri County Medical sale in the Downtown Business District. 20,000 s/f has been absorbed over the past two Quarters as owners are begin- ning to relax pricing in order to move properties rapidly. We anticipate this trend should continue into 2017. The East Shore Business District experienced modest gains in the Third Quarter as absorption levels totaled 7,002 s/f. We expect a further firming of rental and occupancy rates moving into the Fourth Quar- ter and anticipate the possibil- ity of a pullback as remote. Class A occupancy rates remained unchanged at 92% as absorption totaled nega- tive 598 s/f. Opportunities continue to exist for users to upgrade facilities at reason-
Markets advanced in the 3 rd Qtr. of 2016 as absorption totaled 71,652 s/f fueled by solid demand from the West Shore &Downtown tenants requesting a Down- town presence.
CENTRAL, PA —The Third Quarter of 2016 produced posi- tive gains for the Downtown
B u s i n e s s Di s t r i c t as absorption to- taled 27,700 s / f demand has increased i n r e c e n t months from users seeking a Downtown
Thomas Posavec
address and the outlook for the remainder of the year should be strong if activity continues at its current pace. We expect further interest in the Front St. corridor as many proper- ties are undergoing significant renovations at this writing. We have also seen traction in recent weeks from Suburban
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