View the rest of the data here:
http://www.lancastercommercial.com/resources/industrial-market-lease-and-sale-trends/
http://www.lancastercommercial.com/resources/office-market-trends-lease-and-sale/s/
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Norfolk Southern Corp. said construction on its Rutherford intermodal railyard expansion in Dauphin County will begin before the end of the year and be supervised by township inspectors.
“We’ve been talking with the township since the start of this project, and we voluntarily submitted our construction plan to the township for their engineer to review. We also have invited the township engineer to observe construction of the project,” said Dave Pidgeon, a spokesman for the Virginia-based railroad.
Norfolk Southern has been planning a more than $60 million expansion of its Rutherford railyard in Swatara Township since 2011, which will help the company better address its growing intermodal container business.
Yesterday, Swatara Township said the railroad wouldn’t let it review the plans because railroads are exempt from local and state ordinances.
Paul Cornell, the township administrator, today said Norfolk Southern’s cooperation wasn’t entirely voluntary. When the township asked for plans to review the construction’s stormwater management, Norfolk Southern originally declined, he said. The township suggested it submit the plans directly to the U.S. Environmental Protection Agency for review, since it is the federal oversight agency for stormwater. Railroads are not exempt from federal laws.
Norfolk Southern agreed to submit the stormwater plans to the township. The township also asked for construction plans, because without them it could not properly review the runoff plans for the property, something the township must manage with oversight from the state Department of Environmental Protection, Cornell said.
Norfolk Southern agreed, including paying for the township reviews and inspections, he said.
When the Rutherford expansion begins, township inspectors will be on site to verify the project is meeting all applicable laws and codes, Cornell said.
“Although we didn’t review and approve their plan, they’ll be treated the same as any other construction and development company in the township with their project,” he said.
Intermodal freight, or the combo of moving containerized freight by ship, rail and truck, has been growing at a strong clip for all railroads. The midstate expansions are part of the reason Arkansas-based trucking firm J.B. Hunt Transport Services Inc. built a new facility in the township.
Courtesy of the Central Penn Business Journal. Read the full article here:
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The Dauphin County commissioners today are slated to approve the creation of a land bank authority under Act 153, which was signed into law by Gov. Tom Corbett last fall.
The commissioners’ weekly meeting was scheduled for 10 a.m.
Land banks are designed to acquire, manage and market vacant and tax-foreclosured properties. The goal is to clean up title on these properties — often acquired through tax sales or a county’s repository of unsold properties — and get them back into productive reuse.
The county land bank authority would be composed of seven members — five from the Dauphin County Redevelopment Authority and two members appointed by the commissioners.
Philadelphia, Reading and Altoona also have been considering land banks as a neighborhood revitalization tool, according to recent reports.
Courtesy of the Central Penn Business Journal. Read the full article here:
Dauphin County commissioners set to adopt land bank ordinance | Central Penn Business Journal.
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FedEx,the global logistics and package delivery company, is planning a new building that will expand its distribution facilities in Dauphin County, according to RSR Realtors, which helped broker the land deal for the expansion.
The area marked in red is the parcel FedEx just purchased for $6.1 million. The area in yellow is the parcel still available, according to RSR Realtors. (view the photo here:http://www.centralpennbusiness.com/article/20130514/CPBJ01/130519903/FedEx-buys-$61M-in-land-to-expand-Dauphin-County-hub)Lemoyne-based RSR said today that Indianapolis-based Scannell Development Co. acquired the 50 acres adjacent to FedEx’s existing distribution facility in Lower Swatara Township for $6.1 million to build the new center.
The township commissioners could vote Wednesday on the new 312,000-square-foot facility for FedEx Ground to be built on Fulling Mill Road, said Brenda Wick, the township planning and zoning director. The planning commission has recommended approval for the facility that is adjacent to FedEx’s Freight facility on North Union Street.
FedEx could employ up to 250 people at the site and developers are ready to begin construction as soon as its approved, Wick said.
Courtesy of the Central Penn Business Journal. Read the full article here:
FedEx buys $6.1M in land to expand Dauphin County hub | Central Penn Business Journal.
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East Lampeter Township-based High Construction Co. has been awarded a $2.5 million contract to transform a 35,000-square-foot vacant building in Mount Joy Township into a much larger retail facility and firing range for Trop Elite Equipment.
Trop, which is based in Mount Joy Township, will move from 709 Cloverleaf Road to 910 N. Hanover St. Its current facility is about 8,000 square feet, said Kris Hurley, director of operations.
Demolition of the existing interior space will begin this month. An August opening of the retail space is planned, according to a company news release. The remaining construction will wrap up by the end of the year, according to High.
The indoor firing range — complete with environmentally friendly air-filtration and Savage systems — will feature 12 shooting lanes. Trop will offer a membership club.
The facility also will house a gunsmith area, gaming room attached to the retail store, kitchen, espresso bar and lounge with a fireplace, a gym and fitness area and administrative offices.
Chambers & Associates, based in Manheim, designed the facility.
Courtesy of the Central Penn Business Journal. Read the full article here:
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Elmerton 909 LP, a Dallas-based investor, has purchased the 13.3-acre property leased by the state Department of Environmental Protection in Susquehanna Township for $7.3 million, according to Lemoyne-based RSR Realtors, who brokered the deal.
The 73,101-square-foot building sits on 13.3 acres. Photo/SubmittedThe 73,101-square-foot building at 909 Elmerton Avenue — home to DEP’s Southcentral Regional Office — was purchased from Berks County-based New Morgan Municipal Authority, according to county property records.
The transfer will provide an estimated $160,000 in annual real estate tax revenue to the township, school district and county, according to RSR.
DEP has a long-term lease and will remain in the three-story building, which was constructed in 1998, according to RSR. The agency chose the location because of its brownfield designation and had the building constructed to Leadership in Energy and Environmental Design, or LEED, certification standards.
Elmerton 909 LP plans to make improvements to both the building and the surrounding landscaping, according to RSR.
Courtesy of the Central Penn Business Journal. Read the full article here:
DEP building on Elmerton Avenue sold for $7.3M | Central Penn Business Journal.
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Cumberland County-based Vibra Healthcare LLC has signed a definitive $187 million purchase agreement to acquire the operations of 17 facilities from Kindred Healthcare Inc.
The facilities are 15 long-term acute care hospitals containing a total of 1,052 licensed hospital beds; one inpatient rehabilitation hospital containing 44 beds; and one skilled nursing facility containing 135 skilled nursing center beds. They generated revenues of approximately $289 million and earnings before interest, income taxes, depreciation and amortization of approximately $20 million (including the allocation of approximately $9 million of overhead costs) for the year ended Dec. 31, 2012.
“This transaction will expand our specialty hospital and post acute continuum of care operations in several new markets while creating expanded services in markets that Vibra already serves. The scope of this acquisition furthers our strategic plan of positioning Vibra for the evolving integrated delivery model and creating scale to better address the dynamic changes in regulatory and reimbursement policy,” Brad Hollinger, Vibra’s founder, chairman and CEO, said in a news release. “We are confident this acquisition will enhance our long-term objectives while adding value immediately upon close of the transaction.”
Vibra and Kindred expect to complete the transaction through multiple closings in the third and fourth quarters of 2013, pending regulatory and other approvals. Those include Vibra finalizing its financing for the transaction and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976.
Five of the LTAC hospitals will be operated by Post Acute Medical LLC, which is also based in Cumberland County and owns and operates eight LTAC hospitals and three IRF hospitals in an existing joint venture arrangement with Vibra.
Kindred is based in Kentucky and describes itself as the largest diversified provider of post-acute care services in the United States. In a separate news release, Kindred described the sale as part of its own repositioning strategy, noting that each of the facilities is outside Kindred’s 21 designated integrated care markets. Kindred plans to put the proceeds into its integrated care markets and growing home health and hospice business.
Courtesy of the Central Penn Business Journal. Read the full article here:
Vibra Healthcare to purchase 17 facilities for $187 million | Central Penn Business Journal.
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A wholly owned German subsidiary of York-based P.H. Glatfelter Co. has entered a loan contract worth about $55.6 million for certain capital expenditures and other related manufacturing facility investments, according to a regulatory filing.
The agreement is between Glatfelter Gernsbach GmbH & Co. KG and IKB Deutsche Industriebank AG, Düsseldorf.
P.H. Glatfelter will be unconditionally guaranteeing the loan, the filing stated.
The amount must be borrowed by April 26, 2014, according to the filing.
Glatfelter’s Composite Fibers business unit is based in Gernsbach, according to its 2012 annual report. Shares of P.H. Glatfelter are traded on the New York Stock Exchange under the ticker symbol GLT.
Courtesy of the Central Penn Business Journal. Read the full article here:
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How I Spoke In Public and lived to tell the tale…
So you’ve been asked to give a presentation to your (insert your social/professional organization name here)! Flattering – absolutely.Terrifying – undeniably!
At this point most people agree that there are three valid options:
1. Purchase a one way ticket to Jakarta – when you go to ground there, you’re off the grid for sure…
2. Hire/bribe/blackmail a friend to give the speech
3. Actually go through with itIf you picked #1, get your shots and pack light. If you picked #3 – it is time to get serious. Here’s how:
Have a Point
It also helps if your point is relevant, interesting and timely to the audience. Spend some time thinking about what you can deliver that will make the majority of your listeners believe their time was better spent at your presentation than on the receiving end of a root canal (no offense to the endodontists in the group)
Rehearse
9 out of 10 audience members agree that it is much more enjoyable to listen to a presenter that has prepared and knows what she is going to say. Diagram your speech – use outline note style, don’t write it out word for word (reading a speech is illegal in some states). Practice it until you can run through your major points without hesitation. Some people use note cards to remind them of their major points and clutch them like Linus does his blankie; don’t be one of these people.
Plan and Prepare
Scout out the venue ahead of time. Where will you stand? Where will your media projector be? Is there a podium? Is a microphone required? Lapel or hand-held? Some of the many great questions you don’t want to ask 10 minutes before your speech.
Bring a backup to your slide deck. Ignore this advice at your peril. Reference the 50-50-90 rule which states, there is a 50-50 chance that your computer will work with the venue A/V, and 90% of the time it won’t. Just go with me on this one. Plug your backup USB stick in the venue laptop and smile like you’ve done this before.
Use Humor
Breaking the ice – good. Offending people – bad. Don’t be bad.When you use this method, you will be prepared. And if it is the first time you’ve spoken in front of people, you will be nervous. There are no remedies for this without a prescription. The good news is, however, that it does actually get easier. So challenge yourself to go out and give some presentations – before you know it, people will be thinking, “I wish I was as comfortable in front of an audience as that guy!” Be that guy.
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After several abortive attempts, Millersville is about to get a business development at Route 741, Barbara Street and Wabank Road.
Construction will soon start on Millersville Commons at Route 741 and Wabank Road in Millersville and Lancaster Township. The project has an estimated cost of $7 million and will feature a Sheetz convenience store and gas station; developers are recruiting businesses for the remaining 10 spaces, including a bank drive-thru. Illustration/SubmittedDubbed Millersville Commons, the project will include a Sheetz gas station and convenience store; a bank with drive-thru lanes; and a 15,000-square-foot strip center with room for up to nine retail, restaurant and service locations.
“I think it’s going to be a winner for them,” said Borough Manager Ed Arnold. The area has a lot of people, thanks to several nearby residential developments and Millersville University. And currently, he said, the borough has just one gas station and few restaurants.
“There has always been a need for more restaurants,” Arnold said. “That came out in the comprehensive plan updates, loud and clear. The gas part of it, the food part of it, and whatever else they may work in there, I expect it to be popular.”
Arnold also wants the project to thrive for the borough’s sake. There’s minimal commercial land in the borough, he said, and not much space left for development. With the university and Penn Manor schools being tax-exempt, that leaves the onus for taxation mostly on residential properties.
“We really are attempting to increase our commercial exposure activity and exposure as much as we can,” he said, estimating the yearly property taxes that will come from Millersville Commons at nearly $35,000. “We look at the needs of the community and hope that the developer has businesses that the community will be interested in.”
Arnold said there were two previous attempts to put similar commercial projects on the site. One was before his tenure but, according to what he has heard, both “were up against costs that were recommended to be incurred by them.”
“Only five or so years ago, Turkey Hill envisioned a similar project and then backed out at the last minute because of some complications,” Arnold said. “Prior to that, Wawa had a plan that they were bringing forth for the same site — this goes back 10 to 15 years.”
The Commons has been in the works for close to two years and is about to break ground, Arnold said: “I think what has helped them is the fact that the prior applicant sort of carved out which direction to go with this thing.”
The Commons site is nearly 6 acres, roughly triangular and partially over the boundary of neighboring Lancaster Township — which added to the complexity of the project. The structures will all fall on the borough’s side of the line, but the Wabank Road extension that the project requires will be on the township’s side.
William Laudien, the township manager, said a deal was worked out in which the developer, borough and school district have arranged to cover seasonal maintenance on the road and its first major repair so the township doesn’t have to bear that cost.
Laudien and Arnold agreed that they expect the project to be of regional benefit.
“We’re built out as well,” Laudien said, noting that there is a lot of potential for redevelopment. The township has two main shopping centers and then mixed commercial along King Street and Columbia Avenue, but he said the southern end is a bit underserved and the Commons should help address that.
The Commons is a project of Millersville Road Partners LP, which consists of LMS Commercial Real Estate and Blackford Development Ltd.
“The previous developer was trying to do a similar project but with three separate owner/users,” said Donna Deerin Ward, who with her brother Joseph R. Deerin owns LMS. “By developing the site as a whole, it enabled us to spread the costs of development and the cost of constructing the new Wabank Road over the entire project.”
“There has been a tremendous amount of growth in the Route 741 corridor and little new retail development,” she said. She said Sheetz identifying the need for a gas and convenience store was the catalyst for the project, and the retail center and bank will provide alternatives for restaurants and retail stores and services.
Deerin Ward estimated the cost of the project at $7 million. Most of the work will be completed this year, she said, with the final wrap-up in 2014.
The layout was designed by Wilbur McMichael, Deerin Ward said, with Palmyra-based Light-Heigel & Associates Inc. providing civil engineering and Traffic Planning & Design Inc. handling the traffic engineering.
“This will be similar to our project at the corner of Landis Valley Road and Oregon Pike,” Deerin Ward said, referring to the Shoppes at Landis Valley in Manheim Township.
Courtesy of the Central Penn Business Journal. Read the full article here:
Millersville area looks forward to commercial development | Central Penn Business Journal.
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