Unlocking the Doors: Leasing Demand on the Rebound
The improving distribution, manufacturing and retail sectors could be those keys to unlock more growth in the commercial realm, real estate agents said. At the very least, they say their optimism is growing alongside those sectors, which are the potential tenants for empty buildings and plots of land.
There’s a lot of leasing activity in Central Pennsylvania right now, said Drew Bobincheck, an agent with the Cumberland County-based Landmark Commercial Realty. Warehouse properties that were previously empty are starting to fill up, as are retail spaces and a small amount of office space, he said.
In the Lancaster market, industrial leasing continue to see the most activity, but there’s also more redevelopment activity and retail projects, according to NAI CIR.
“We’ve seen a little bit more of a boom,” Bobincheck said. “The landlords have gotten their heads out of the clouds, and tenants have come up to meet them. Everyone’s willing to meet each other in the middle more often now.”
Courtesy of Jim T. Ryan, Central Penn Business Journal.