16B — May 25 - June 7, 2012 — Industrial / Distribution Centers — Mid Atlantic Real Estate Journal www.marejournal.com I ndustrial R eal E state & D istribution C enters
By Steve Willems, NAI Keystone Commercial & Industrial Greater Reading Area on the move —>
T
he Greater Reading area is trending up for occupancies in both
pre-recession levels. The numbers are also aided by two building disappearing from the market; the 750,000 s/f Armorcast Building was razed and Salient Technolo- gies 250,000 s/f plant is gone too. Scrap steel prices in the + $350/ton range have helped turn these two projects from lemons to lemonade. The Greater Reading Eco- nomic Partnership reports two sites at the Berks Park 78 which are now under letter of intent. The infra- structure is substantially complete to allow for up to 3 million feet of new industrial
product at this 323 acre site. The Economic Partnership is also working closely with the Berks County Commission- ers who are spearheading a new pre-approval process which will be called JEAP (Joint Express Approval Pro- cess). Quicker approvals for complicated deals is welcome in my world! Look for details to be released soon. While our market rates (sale & lease) lag lower than in many adjacent markets, the quality of our build- ings, workforce and positive business environment make the greater Reading area a market to watch. We invite you to be part of this exciting change. Steve Willems is princi- pal of NAI Keystone Com- mercial & Industrial. n
“While our market rates (sale & lease) lag lower than in many adjacent markets, the quality of our buildings, workforce and positive business environment make the greater Reading area a market to watch. We invite you to be part of this exciting change.”
the Industri- al and Office sectors. This is welcome news for cer- tain. M e d i c a l buildings are the strength of the Office
rumors of contract awards in the offing which will drive even more vacancies out of the market. Developer Kin- sley Construction has taken notice and has erected two spec buildings -one 34,000 s/f building is fully leased- and is now planning another. Spec construction has not
happened in the last several years. The absorption is wel- come but the rates are still tracking at 2010 levels. Due in part to several large tenants ( Crossroads Bever- age with 324,500 s/f and East Penn / DEKA with 200,000 s/f), the Industrial vacancy rates have dropped to the
Steve Willems
growth with a limited nega- tive byproduct: the increas- ing vacancy of the small old fashioned Family Physician offices. Several high tech com- panies have expanded with
NAI Hanson secures 9,600 s/f indus. lease
Muhlenberg 8,700 SF - LEASE
Lebanon 55,632 SF - SALE /LEASE
Reading 41,938 SF - LEASE
St Lawrence Borough 44,643 SF - SALE /LEASE
Reading 8,000 SF - LEASE
Blandon 53,172 SF - LEASE
Reading 36,757 SF - LEASE
Reading 5,706 SF - SALE /LEASE
697 Rahway Avenue
Leesport 36,000 SF - SALE/LEASE
UNION, NJ — NAI James E. Hanson announced that the firm completed a 9,600 s/f industrial lease transaction at 697 Rahway Avenue in Union. NAI Hanson senior vice presi- dent ThomasW. Ryan and sales associate Russell J. Verducci represented the landlord, Rum- mel Fibre Co., Inc. Weichert Commercial Brokerage vice president David R. Williams represented the tenant, Ca- nary Custom Closets, which is relocating from 1474 Ridgeway Street, also in Union. The building totals 30,000 s/f and features a 26-foot clear ceiling height with one drive- in, oversized 20-ft. door. The landlord is building out 1,200 s/f of office space for the ten- ant. “Canary wanted to stay in Union and this property had many of the features they were looking for such as ceil- ing height and heavy power,” Verducci said. “The tenant is currently in two locations and this unit gives him the space to put his operation under one roof.” n
Reading 124,796 SF - SALE
Womelsdorf 120,000 SF - SALE/LEASE
Reading 38,505 SF - SALE
Hamburg 63,025 SF - SALE
Reading 19,254 SF - SALE
Hamburg 85,276 SF - SALE/LEASE
Robesonia 226,326 SF - SALE/LEASE
Muhlenberg 24,000 to 185,425 SF - LEASE
Pottsville 12,750SF - SALE/LEASE
Reading 16,067 SF - SALE /LEASE
We Have Industrial Land Too !
Call 610-779-1400 to arrange a tour www.NAIKeystone.com Covering Berks & Schuylkill Counties
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