Lancaster PA Commercial Real Estate

The Patriot News reports parent company of Harrisburg-based Graystone Bank to acquire First Chester County Corporation.  This action strengthens the widely held notion that Graystone Bank is currently one of the few local banks looking to do deals.  In a recent conversation, a Graystone LO recently remarked to me that “we are here and healthy” and that they are looking for deals that make sense.

These statements highlight what I see as the current commercial lending climate in Lancaster County:  You can get financing for your commercial deal if your project pencils (debt coverage ratio greater than 1.2), you have sufficient down (20% or greater) and a track record of previous success.

via Parent company of Harrisburg-based Graystone Bank to acquire First Chester County Corporation | Breaking Midstate News with The Patriot-News -.

Loopnet reports that:

The delinquency rate for commercial mortgages held by four of the five major investor groups surveyed by the Mortgage Bankers Association continued their climb in the third quarter. Only Freddie Mac didn’t see an increase in delinquency. The rate for loans more than 90-days late stayed flat at 0.11%. That compares with 0.09% at the end of the first quarter and 0.01% in the third quarter a year ago. CMBS loans ended the quarter with a 4.06% delinquency

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John is now able to provide clients with a valuable new information tool:

Retail Market Potential

The Retail Market Potential report offers a comprehensive look at the number of adults or households expected to consume products or services in a variety of retail categories.  A market potential index (MPI) measures the relative likelihood of the adults or household in a specified area to exhibit certain consumer behavior compared to the U.S. average.  Retail categories include, but are not limited to, food, health, computers, beverages, travel, apparel and entertainment.

Click here to view a sample

The Commercial Leading Indicator for Brokerage Activity1 rose 0.9 percent to an index of 102.4 in the third quarter from 101.5 in the second quarter, but is 11.1 percent below a reading of 115.3 in the third quarter of 2008. The index in the second quarter was at the lowest level since the first quarter of 1994; NAR’s track of the commercial leading indicator dates back to 1990.

via Commercial Real Estate Forecast Uncertain.

Hello and welcome to Lancaster Commercial. My name is John Thiry and I am a Commercial Real Estate Advisor in Lancaster PA with NAI Commercial Partners, Inc. As a Transaction Manager, I facilitate a wide variety of commercial real estate transactions, but focus on commercial/industrial brokerage, leasing and investment properties.

Transaction Manager

My role as a Transaction Manager is to assist investors and users in the acquisition, development and disposition of real estate. In practice this role can manifest in four different ways:

Transaction Management Roles

No matter which phase of a commercial real estate transaction you may be in, you can, and should be represented by a Realtor©. Our team has the training and local market experience to ensure that not only will you achieve your immediate requirements, but that you will optimize your real estate assets.

Mission Statement

I help companies and investors align their real estate assets with their business goals. From acquisition to leasing to disposition, I provide an effective mix of market knowledge and analytics to help optimize the real estate component of my client’s business.

Next Steps

Click here to try out my free property report service.

Click here to get the details on my listings.

John Thiry, NAI Commercial Partners

John F. Thiry
Commercial Real Estate Advisor

NAI Commercial Partners, Inc.
930 Red Rose Court, Suite 200
Lancaster, PA 17601

Office: 717-283-0600 x108
Mobile: 717-413-1457
Fax: 866-354-1923 (toll free)

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South Central PA economists weigh in on how the economic recovery is likely to proceed.  Today’s headline of much lower unemployment is on track for an employment bottom and subsequent recovery in early 2010.  Below find and excerpt and link to the full article.

Dye, vice president and senior economist for The PNC Financial Services Group, said the recovery likely would be a gradual “U-shaped recovery,” rather than a sharper “V-shaped” one. Basu, however, noted about one-third of economists are predicting a “double dip,” a second downturn.

via Two economists predict recovery, question endurance – Central Penn Business Journal.

CoStar reports that the Pennsylvania Real Estate Investment Trust PREIT has sold the 16-acre ground lease, currently occupied by a 117,000- square-foot Lowes, at 1845 Hempstead Road in Lancaster, PA, for $10.2 million, or about $633,500 per acre.

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Read full article:  PREIT Sells Lowe’s Ground Lease in Lancaster – CoStar Group.