8C — February 23 - March 15, 2018 — Commercial Office Properties — M id A tlantic

Real Estate Journal

NAI CIR By Casey Khuri, NAI CIR Harrisburg: Thinking Regionally

T he Greater Harrisburg area office submarkets are often simplified to

were not submarket specific, rather they were driven by visibility, access and overall regional convenience. The East and West Shores played on equal footing in the search. The Hospital Association of Pennsylvania sold a signature suburban headquarters office building on the East Shore to relocate complete operations to Downtown Harrisburg. Immediate proximity to the State Government, associated services and an appropriate floorplate drove this relocation. Pillar+Aught, a newly es- tablished law firm of well- regarded Downtown based local attorneys, chose to plant

exist in the Union Deposit and Paxtonia areas. Downtown, while always offering many smaller Class B vacancies, currently has substantial inventory of larger blocks of class A space along Market Square and in Mid- town. While parking is always part of the Downtown discus- sion, these larger availabilities offer alternatives to assist in mediating the parking cost impact. The West Shore continues to provide larger floorplate opportunities, particularly in the Erford Road area. Aggres- sive pricing will continue to redeploy office assets that are targeted for redevelopment with potential new ownership. Regional perspective seems to be coming of age in the Greater Harrisburg area office market discussions. The recent massive regional expansion of the UPMC Pinnacle footprint drives ongoing recognition of our regional identity. East Shore, Downtown and West Shore have specific advan- tages in current availabilities and office users are focusing more on product attributes within the region rather than predetermined submarket location considerations. For more information on of- fice properties in the Greater Harrisburg market, call us. We have a team of agents ready to help you navigate our shores. About NAI CIR NAI CIR, based in Lemoyne, is Central Pennsylvania’s old- est and largest exclusively commercial industrial real estate full service brokerage firm. Founded in 1970, the firm is consistently ranked as the top producing commercial in- dustrial sales and leasing firm by the Central Pennsylvania Business Journal and by Real Capital Analytics. The firmhas been honored as a Philadelphia Region CoStar Power Broker for 15 consecutive years. NAI CIR is the Central Pennsylvania representative of NAI Global, an interna- tional organization of real estate professionals with con- nections literally all across the world. Our transaction and management professionals are among the most experienced and successful in the business, and our platform ensures that our expertise directly benefits our clients. Casey Khuri is Vice Pres- ident of NAI CIR. n

fragmented and we, as real estate professionals, occasion- ally added to this fracture by focusing solely on searching inventory in a predefined submarket. With companies relocating between submar- kets and larger users taking a regional approach to office planning, agents and clients have reshaped the typical Har- risburg office search. Centric Bank, with an exist- ing East Shore headquarters, recently secured a new, addi- tional corporate and adminis- trative location along I–81 on the West Shore in Hampden Township. Centric’s search pa- rameters for a suitable location

their new headquarters in the suburban East Shore. The firm was seeking convenience, ac- cess and visibility, which they found along the Union Deposit corridor. Given the accelerating movement across, not just within, submarkets, where are the greatest opportunities for office users in the Greater Harrisburg area? Let’s take a look by submarket. The East Shore offers the smaller (less than 10,000 square feet) office user many opportunities, particularly in highly efficient and economi- cal class B single story space. Many excellent opportunities

East Shore, Down t own a n d We s t Shore . For decades, the Susquehan- na River has served as a line of divi- sion, with lo-

Casey Khuri

cal legend suggesting an East Shore business would never relocate to the West Shore. Most would also believe a suburban office user would never relocate to Downtown. The Region was considered

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