12C — May 13 - 26, 2016 — Pennsylvania — M id A tlantic
Real Estate Journal
www.marejournal.com
P ennsylvania
NGKF Capital Markets represents owner in the $41.25 million sale
Remmel of Landmark Commercial Realty inks 8.17 acre sale
all. I understand the challenges and how long the entire process may take. I recognize it can be a roller coaster ride at times, but I can make it less jarring.” John has broad historical knowledge of area properties. An expert in acquisitions, disposals, “green fields” management and reno- vations, John’s real estate and business skill sets make him a unique and versatile resource for commercial real estate buyers and sellers who can efficiently determine what is needed to complete a deal efficiently. His grandfather was a promi- nent Realtor in the Central Pennsylvania region back in the 1950s and 60s. “I have grown to thoroughly enjoy the property and facilities transac- tion arena of the auto industry. I guess you could say I have both real estate and the auto- motive business in my blood.” Landmark Commercial Realty specializes in com- mercial, investment, office, land, andmulti-family hous- ing in central PA. n Tradavo Inc. recently leased 14,485 s/f of flex warehouse space on a long term lease at 381 Independence Ave. in Upper Allen Business Park. Grace, CCIM, SIOR negotiated the transaction on behalf of the landlord, Independence Avenue Investments, LLC. n & Design Corp. Locust Lane LLC has re- cently acquired a 13,500 s/f office building located at 4601 Locust Lane, Harrisburg from Lamando and Shives Part- nership. Posavec, SIOR and Brenner handled the transac- tion on behalf of both buyer and seller. FTD Companies Inc. located in San Diego, California recent- ly negotiated a buyout of their 108,750 s/f warehouse lease at 1225 S. Market St., Mechanic- sburg that previously served as their east coast processing and fulfillment center. senior vice president, Jason Grace, CCIM, SIOR of Landmark Commercial Realty, Inc. negoti- ated the early termination be- tween the tenant and landlord, Allen Distribution Inc. Power Component Systems, Inc. recently signed a large term lease at 801 Spangler Rd., Camp Hill. Grace, CCIM, SIOR negotiated the transac- tion on behalf of the landlord, 801 Spangler Rd. Associates, LP. Brenner represented the tenant.
Chevrolet, Monro Muffler and Sheetz Markets. And returning back to his roots, in early March of this year, John represented his former employer, Sutliff En- terprises, to help close a $3.6 million deal. PinnacleHealth System purchased the former Sutliff Capital Ford property located at 1000 Paxton Street, Harrisburg (Dauphin County, PA). The property, located on the corner of Cameron and Paxton Streets, includes 7.6 acres of land, along with a 50,000 s/f fa- cility. It was on the market for about two years and owned by Sutliff Enterprises since 1999. PinnacleHealth’s immediate plans are to utilize the property for fleet maintenance and the relocation of their Community Life Team. John knows from experience he can easily walk his commer- cial real estate clients through the, often times, overwhelming process fromboth the buyer and seller sides. “I experienced it Oatman Properties, LLC recently purchased a 25,000 s/f industrial flex facility lo- cated at 5885 Grayson Rd. in Swatara Twp. ChuckHeller of Landmark Commercial Realty, Inc. represented the buyer and Brenner and Posavec, SIOR also of Landmark represented the seller, Electronic Services HAMPDEN TWP., PA — Smith Packet / Med-Com, LLC has purchased 8.17 acres in the Cumberland Technology Park in Hampden Twp. Plans are to construct an 185,000 s/f, 192 unit, senior living facility. The sale transaction was handled by Dan Alderman of NAI CIR and David Remmel , president at Landmark Commercial Realty , APR Supply recently pur- chased a 31,000 s/f industrial facility located at 207 Lynn- dale Court in Hampden Twp. Eric Ravine of NAI CIR represented the buyers and Thomas Posavec, SIOR and Roy Brenner of Landmark Commercial Realty represented the seller, Patton Properties. 225 Brew & Pizza, LLC pur- chased Anthony’s Microbrew- ery & Pizza located at 225 N. 2nd St., Harrisburg from Tony Panuccio. Bo Mangam of Landmark Commercial Realty, Inc. represented the seller and Craig Dunkle from Marcus & Millichap represented the buyer.
HILADELPHIA, PA — NGKF Capi ta l Markets has success- fully completed the sale of 2.0 University Place in Philadel- phia. The NGKF Capital Mar- kets team comprising of Dave Dolan, Brett Segal and Mike Margolis , along with area ex- perts, Craig Scheuerle, Jack Soloff and Matt Guerrieri , represented 2.0 University Place Associates (“UPA”) in the $41.25 million sale of 2.0 University Place to a member company of Zurich North America (“Zurich”). Zurich was advised by Zurich Al- ternative Asset Manage- ment LLC (“ZAAM”) , its al- ternative investment adviser. The ZAAM team was led by Roy Rosenbaum , director of acquisitions and Sean Ban- non , managing director and head of U.S. Real Estate. 2.0 University Place is the first double platinum (LEED Platinum Core & Shell v2.0; commercial interior – LEED v2009 Platinum certified), multi-tenanted office building in the United States. It not only appeals to environmen- tally-conscious tenants, but to economically-influenced tenants as well. The building produces an energy savings of approximately 60 percent when compared to the exist- ing nationwide office building stock greater than 100,000 s/f. 2.0 University Place gar- P CHAMBERSBURG BOR- OUGH, PA —Salt Creek Part- ners LLC purchased an 11,400 s/f warehouse building at 540 Hollywell Ave., Chambersburg Borough. Daniel. Alderman and Ryan Murray of NAI CIR represented the sellers, Universal Developers, Inc. Bob Hickey and Tom Mongold of RE/MAX Realty Agency rep- resented Salt Creek Partners LLC. Salt Creek Partners LLC also purchased a 1,712 s/f multi- family investment property at 29 West North St, Carlisle Borough. Alderman and Mur- ray of NAI CIR represented the sellers, Stanley N. Dye and Susan E. Dye. Hickey and Mon- gold represented Salt Creek Partners LLC. Hoffman Ford Sales, Inc. has purchased 3.68 acres of land in Lower Paxton Twp The Bill Gladstone Group of NAI CIR , handled the transaction. Columbia Ancillary Services has relocated and leased 3,561 s/f of flex warehouse space at 5351 Jaycee Ave., Lower Pax-
2.0 University Place
nered significant interest from the institutional investment market due to its stable roster of tenants, dynamic Univer- sity City location and future growth potential. At a price of $420 per foot, the 2.0 Uni- versity Place acquisition is the highest price paid to date for a multi-tenanted office building in Philadelphia. This pricing highlights not only the strength of the underly- ing rents, but also the build- ing’s excellent fundamentals, which include a 100% occupied tenant roster, LEED-related operating efficiencies, strong tenant credit and over twelve years of average remaining lease term. “NGKF sourced a buyer with the same perspective and sustainable investment thesis Perplex Gaming Group, LLC, has leased 2,250 s/f of retail space at 7340 Derry St., Swata- ra Twp. McMurray CCIM, SIOR handled the transaction. 101 S. 17th Street LLC, pur- chased a 10-unit, multi-family investment property on Derry St. in Harrisburg. Ryan Mur- ray and Nathan Kranz , of NAI CIR, represented the sell- er. Timothy Norris , of Select Realty Services , represented the buyer. Duquesne Light Company has leased 876 s/f of office space at 800 N Third St.in the City of Harrisburg. Duquesne Light Company provides energy ser- vices to southwestern Penn- sylvania. The Bill Gladstone Group of NAI CIR represented the property owner, Associ- ated PA Constructors. Patrick Sentener, SIOR of Colliers International , Pittsburgh, represented Duquesne Light Company. Ida McMurray, CCIM, SIOR of NAI CIR handled the transaction.
as UPA. Zurich is a perfect fit because of their long-term vi- sion and forward thinking. 2.0 University Place is Zurich’s first investment in Philadel- phia, and we are thrilled they chose the University City sub- market,” said Dave Dolan and Brett Segal, who facilitated the transaction on behalf of UPA. 2.0 University Place is locat- ed at 30 North 41st Street and is one of the newest delivered trophy buildings located in the vibrant University City sub- market of Philadelphia. This booming submarket currently holds a vacancy rate of 1.9 percent according to Newmark Grubb Knight Frank research and is the hub of Philadel- phia’s bustling technology and biomedical research sector. n Robin Zellers, SIOR , presi- dent and Broker of Record, of NAI CIR, was invited to present commercial real estate trends at the Pennsylvania Economic Development Association’s 2016 Spring Legislative Confer- ence. The conference was held from April 11-April 13, 2016. Zellers discussed trends in the commercial real estate (“CRE”) markets. The factors affecting commercial real es- tate markets include continued job growth, the shift towards e-commerce, and evolving de- mand for office space. Zellers stated that “36% of the U.S. commercial real estate debt matures in the next three years. Something will happen to one in three of every CRE buildings in our markets. It may be a refinancing or it may be a sale, but changes will happen.” The presentation was opened and moderated by Steve Wil- lems, SIOR , business director and principal, of NAI Key- stone Commercial & Indus- trial, LLC . n
Recalculating: Commercial real estate . . . continued from page 2C
NAI CIR handles 11,400 s/f at 540 Hollywell Ave., Chambersburg ton Twp.
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