Lancaster PA Commercial Real Estate

• 17Jan

  NRC Occupies 80,000 SF in King of Prussia, PA

  Office No Comments

  CoStar Reports:  The U.S. Nuclear Regulatory Commission leased 79,764 square feet of office space for 15 years at 2100 Renaissance Blvd. in King of Prussia, PA.

  Located in Renaissance Park, the 102,095-square-foot Class A building sits on over six acres of land, in central King of Prussia.

  Bruce Hartlein with Liberty Property Trust represented the building owner in-house while Todd Valentine of Studley represented the tenant.

  Nuclear Regulatory Commission Moves To Renaissance Park – CoStar Group.

  
• 05Dec

  Lancaster’s Select Security buys Fire Systems Inc.

  Office, Retail, Universal No Comments

  CPBJ Reports: Lancaster-based alarm systems firm Select Security has acquired Fire Systems Inc., a fire sprinkler company based in Ephrata, and renamed it Fire Systems Integrated.

  The acquisition moves Select Security toward being “a single-source provider for all security and fire protection,” company President Patrick Egan said today in a statement.

  Terms of the deal were not disclosed.

  Select Security sells burglar alarms, fire alarms, video surveillance and emergency alert systems through offices in Altoona, Franklin, Lancaster, Stroudsburg, Sayre and Williamsport

  via Lancaster’s Select Security buys Fire Systems Inc..

  
• 18Nov

  Shadow Lawn Pays $9.75M for Lancaster Industrial Bldg – CoStar Group

  Industrial, Investment, Office No Comments

  CoStar reports – Shadow Lawn, a Pennsylvania-based property investment firm, acquired the City Line Business Center in Lancaster, PA, from Thermal Solutions Products, LLC for $9.75 million, or about $60 per square foot.

  The fully leased manufacturing building located at 1175 Manheim Pike in Lancaster, PA was delivered in 1989. The property totals 161,000 square feet and sits on eleven acres.

  Tim Shreiner of Prudential Homesale Services represented the buyer, while Dan Berger of NAI Commercial Partners, Inc. represented the seller.

  
• 12Nov

  Cedar Shopping Centers Pays $13.4M for IRS Bldg – CoStar Group

  Investment, Office No Comments

  CoStar reports – Cedar Shopping Centers, Inc. acquired the 230,000-square-foot IRS office building in Philadelphia for $13.38 million, or about $58 per square foot, from 11501 Roosevelt Partners, LP.

  The single-story office building was delivered in 1969 at 11501 Roosevelt Blvd. It totals 230,000 square feet and sits on 9.7 acres in the Northeast Philadelphia submarket

  via Cedar Shopping Centers Pays $13.4M for IRS Bldg – CoStar Group.

  
• 10Nov

  John Thiry completes Buyer’s Agency assignment

  Investment, Office, Retail No Comments

  John Thiry represented Kitchen Design Specialists in purchasing their new showroom and office location at 2126 Columbia Avenue, Lancaster, PA.

  
• 22Oct

  Lancaster Stockyards – Office Park Transformation Under Way

  CRE Blog, Office, Retail, Universal No Comments

  Central Penn Business Journal reports on Lancaster Stockyards progress. 

  Waiting for opening ceremonies to begin at the Lancaster Stockyards office park, former site co-owner Zane Kauffman remembered the glory days.

  “We had so many cattle at times, we didn’t have housing for all of them,” said the 86-year-old, who began working there in 1946.

  The Lancaster Stockyards, opened in 1895, once were the largest in the East. Cattle, sheep and pigs were brought in by the thousands and sold in daily auctions. But by the early 2000s the stockyards had become a defunct, decaying eyesore, the victim of a changing economy and competition from much larger Western operations.

  To read the entire article, click here.

  

  Tags: Office, Retail

• 07Oct

  Lancaster Refocusing Revival Efforts

  CRE Blog, Industrial, Investment, Office, Retail, Universal No Comments

  More than $1 billion in investment has been announced, begun or completed in Lancaster since 2005.

  The result has been a new crop of city landmarks, such as Clipper Magazine Stadium, the Lancaster County Convention Center and Lancaster Marriott at Penn Square, and the early components of the northwest corridor.

  To read the entire article, click here.

  
• 04Oct

  Mixed Use South Square Project Plans Halted in Lancaster

  CRE Blog, Office, Retail, Universal No Comments

  Central PA Business Journal reports that developers pulled the plug on South Square, envisioned as a $15 million mixed-use project to revitalize the 100 block of downtown Lancaster’s South Queen Street.

  To read the entire article, click here.

  
• 03Sep

  New Lease Accounting Rules May Affect Tenants and Landlords

  CRE Blog, Industrial, Investment, Office, Retail, Universal No Comments

  The CoStar Group reports that Northrop Grumman Corp.’s decision in July to relocate its corporate headquarters from Los Angeles to a 14-story, 334,385-square-foot building it acquired in Falls Church, VA, was a huge economic development victory for Fairfax County and the state of Virginia. But the defense contractor’s decision to buy rather than lease its headquarters building at 2980 Fairview Park Drive has also drawn renewed attention to a major international proposal that could effectively end off-balance-sheet treatment of leases.
  To read the entire article, click here.

  

  Tags: landlords, Lease accounting, tenants

• 14Jul

  Commercial Real Estate Acquisitions Expected to Increase through 2012

  CRE Blog, Industrial, Investment, Office No Comments

  Morningstar analyst Todd Lukasik expects a flurry of purchase activity in the commercial real estate space, starting now and then intensifying in 2011 and 2012.

  It’s not so much that the commercial real estate market is healthy, but rather that there will be massive amounts of distressed properties as many property owners’ untenable debt burdens come debt.

  Click here to read the entire article.

  

  Tags: commercial real estate, investors, Purchases

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