Lancaster PA Commercial Real Estate

• 22Dec

  Sechan Electronics awarded $78M in DOD contracts

  Industrial No Comments

  CPBJ reports:  Sechan Electronics Inc. in Lancaster County on Monday was awarded a $64.2 million contract by the U.S. Navy, according to the U.S. Department of Defense.

  The Warwick Township-based company will produce signal data processor-Sierra systems and provide engineering support services for the Navy’s Cooperative Engagement Capability program, according to a statement.
  
  The program provides regular sensory data tracking for early detection of air threats, according to a news release.

  Sechan Electronics awarded $78M in DOD contracts – Central Penn Business Journal.

  
• 11Oct

  Bedding Manufacturer Signs 10-Year Lease in Philly

  Industrial No Comments

  CoStar Reports:  Kassie Bedding Manufacturing, Inc., a bedding distribution and manufacturing company, signed a ten-year lease with SRP Management for its 60,000-square-foot warehouse at 401-437 E. Erie Ave. in Philadelphia, PA.

  The Herbach & Rademan building was completed in 1945 and renovated in 2006. The property totals 60,000 square feet on 2.5 acres, and is located about three miles from I-95.

  Bedding Manufacturer Signs 10-Year Lease in Philly – CoStar Group.

  
• 15Sep

  Central PA Green M&A

  Industrial No Comments

  CPBJ reports:

  Lebanon County-based solar installer Energy Systems & Installation Inc. has acquired MJ Barrick Heating & Cooling, a Perry County firm.

  The acquisition bolsters ESI’s ability to sell and service solar hot water systems and help clients improve their energy efficiency, CEO Corey Wolff said in a statement. It also will allow ESI to add heating, air conditioning and electrical services to its core solar business.
  
  Terms of the deal were not disclosed.
  
  Founded in 2008, ESI is a regional commercial-scale solar company based in Union Township. Its notable projects include the solar canopy that debuted this summer at Hershey’s Chocolate World.

  Central Penn Business Journal.

  
• 11Jul

  York’s BAE continues to win defense contracts

  Industrial No Comments

   

   

   

   

   

  CPBJ reports:  The U.S. Army has given BAE Systems a $165 million contract to build 43 Hercules vehicles at its York County facility, according to the Department of Defense.

  The Hercules are armored track vehicles used for hoisting and towing other vehicles and materials in support of the Abrams tank and Paladin mobile artillery fleets, according to the Army. BAE — and previously United Defense — has built the Hercules for the Army since it was introduced in 1997. BAE acquired United Defense in 2005 for more than $4 billion.

  full article Central Penn Business Journal.

  
• 07Jul

  Philly Suburbian Industrial Lease Up – Centurion Inks 97,200-SF

  Industrial No Comments

  CoStar reports: Centurion Medical Products signed a long-term lease for 97,200 square feet in the industrial building at 2001 Gehman Rd. in Harleysville, PA.

  The 97,200-square-foot manufacturing building was built in 1989 and is located in the East Montgomery County Industrial submarket. The tenant will take occupancy of the entire building by the end of this year.

  Centurion Inks 97,200-SF Industrial Deal – CoStar Group.

  
• 22Jun

  York, PA Dentsply to acquire AstraZeneca implant business for $1.8B

  Industrial No Comments

  CPBJ reports:  York-based dental products maker Dentsply International Inc. has signed a definitive agreement to acquire Astra Tech, a Sweden-based provider of dental implant products and other items, for about $1.8 billion in cash, Dentsply said this morning.
  Astra Tech is a subsidiary of AstraZeneca and contains the Astra Tech Dental and Astra Tech Healthcare divisions, the latter of which is a leading provider of hydrophilic intermittent catheters, according to a news release.
  
  The deal is subject to antitrust approvals and is expected to close before the end of this year, Dentsply said. The company has committed financing for the deal and plans to acquire Astra Tech with a combination of cash on hand, long-term debt and commercial paper.
  
  Astra Tech recorded worldwide revenue of about $535 million in 2010, according to the release.

  Central Penn Business Journal.

  
• 22Jun

  U.S.A. is #1 for Data Center Locations

  Industrial, Office, Universal No Comments

  NREI reports:  Data centers support business-critical information technology systems, and any downtime can cost millions in lost revenue and even threaten the viability of a business.

  Against that backdrop, the United States ranks as the top choice for companies seeking low-risk data center locations, reflecting the country’s relatively low cost of energy and favorable business environment, according to a new study.

  Cushman & Wakefield and engineering consulting firm hurleypalmerflatt released details of the Data Center Risk Index on June 15.

  The index, which evaluated risk in 20 leading and emerging markets and across key regional centers, scored India the least favorable with China also near the bottom of the rankings (see table).

  “Despite their status as engines of global growth, China and India score poorly as a result of strict foreign ownership regulations and other barriers to investment,” says Stephen Whatling, global services director at London-based hurleypalmerflatt.

  U.S. Ranks As Top Choice for Companies Seeking Low-Risk Data Center Locations.

  
• 13Jun

  Philadelphia’s Industrial Vacancy Decreases to 9.2%

  Industrial No Comments

  CoStar reports:  The Philadelphia Industrial market ended the first quarter 2011 with a vacancy rate of 9.2%.

  The vacancy rate was down over the previous quarter, with net absorption totaling positive 2,784,849 square feet in the first quarter. Vacant sublease space decreased in the quarter, ending the quarter at 3,345,275 square feet.

  Tenants moving into large blocks of space in 2011 include Bay Valley Foods moving into 602,500 square feet at Key Distribution Center, The Clark Group moving into 252,000 square feet at Blue Mountain Park-Bldg 3, and Packaging Corporation of America moving into 220,875 square feet at Premium Distribution Center.

  Rental rates ended the first quarter at $4.44, a decrease over the previous quarter.

  A total of three buildings delivered to the market in the quarter totaling 215,000 square feet, with 1,483,535 square feet still under construction at the end of the quarter.

  Market Trend: Philadelphia’s Industrial Vacancy Decreases to 9.2% – CoStar Group.

  
• 09Jun

  West Chester, PA Flex Bldg Sells for $4M

  Industrial 1 Comment

  CoStar reports: 1230 Wilson Drive in West Chester, PA was a part of the assets and products that were recently purchased by Kensey Nash Corp. from Norian Corp. The 37,000-square-foot building was sold for $4 million, or about $108 per square foot.

  This flex building is located in the Brandywine Business Park on 4.5 acres with an adjacent three-acre lot. The building is in close proximity to Routes 202, 322 and 100.

  West Chester Flex Bldg Sells for $4M – CoStar Group.

  
• 27May

  Lemoyne Sleeper to close mattress factory and stores

  Industrial, Retail No Comments

  Penn Live Reports:  After struggling for months, Lemoyne Sleeper owner Andy Pearlman made the decision to close the mattress company his father started in 1964. Hit hard by the downturn in the economy and a housing market that has been depressed since the end of 2007, Pearlman saw the situation for what it was: bleak.

  “I didn’t want to wait until they came after me,” Pearlman said of his creditors. “The decision had to be made. It was a very difficult one. We would rather do it our way with integrity: take care of employees and our customers.”

  Although Pearlman has no set date in mind for the closing, the factory where the mattresses are made will be shuttered first. The three company-owned stores in Lemoyne, Lebanon and Lancaster will follow as soon as inventory is sold off.

  In all, about 45 people will lose their jobs once the company closes its factory and its stores.

  Pearlman said that he is not sure what will happen to the Lemoyne Sleeper stores in Carlisle, York, Hanover, Chambersburg and State College. Those stores are franchises. Those franchise stores will have to find another mattress supplier, he said.

  Scott Burkholder, the owner of Lemoyne Sleeper stores in Hanover and York, said his stores will remain open, and he will search for a new mattress vendor.

  Lemoyne Sleeper to close mattress factory after struggling through economic downturn | PennLive.com.

  

« Previous Entries