Lancaster PA Commercial Real Estate

See below for John’s latest article on investment real estate tips:
The Four Secrets to Building Wealth With Investment Real Estate

I am pleased to offer a valuable and rare commercial offering – namely an affordable operating car wash and new/clean restaurant building. Located in picturesque Lancaster County, PA there is tremendous upside potential to this property.
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NAI Global Market Report – 2010

NAI Global Market Report 2010

This report is a comprehensive overview of US and worldwide markets presented as a courtesy to my clients and readers of LancasterCommercial.com.  There is a great deal of data and insight in this 140 page report.  Call me with any questions on interpretation or how to apply these insights to your investing goals.

from the article:

Local real estate experts said they expect more properties to follow in 2010 as owners struggle to repay their debts. But the pickings might not be as rich as some are hoping, said John Thiry, a commercial real estate adviser for NAI Commercial Partners Inc. in East Hempfield Township, Lancaster County.

“The common thinking is that the vultures are circling and waiting for all these properties to go to forced sales,” Thiry said. “But what’s really happening is not quite that dire.”

Lenders are more likely to work with debtors rather than list properties at a sheriff’s sale, where they are likely to take a loss, Thiry said. Banks typically get about 60 cents on the dollar from the sale of delinquent properties, he added.

Thiry cited Red Rose Commons, a Lancaster shopping center owned by Blue Bell-based The Goldenberg Group and Philadelphia-based Pennsylvania Real Estate Investment Trust, or PREIT. With the center facing possible foreclosure, Goldenberg and PREIT managed to refinance their debt last fall.

“The vast majority of those distressed-debt situations are getting worked out,” Thiry said.

Read the full article here:

Sheriffs hold real estate keys – Central Penn Business Journal.

A pair of recent reports presents mixed outlook for 2010

A recent report by CoStar indicates an uptick in sales volume:

“Grubb & Ellis in its annual outlook is predicting an increase in sales volume of 20% to 30% over 2009 levels. However, prices, already down 40% from their peak in October 2007, may decline another 10% to 20% in order to meet buyers’ expectations.” – CoStar – Full report.

Loopnet cites a National Council of Real Estate Investment Fiduciaries’ NCREIF Index that corroborates the outlook of lower values in 2010:

“Property values will continue to fall and investment returns will remain negative through 2010, according to CBRE Econometric Advisors.”  LoopNet – Full Report