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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.
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03Sep
Tags: landlords, Lease accounting, tenants
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19May
Cedar Shopping Centers Inc. said on Tuesday it has entered a joint-venture agreement to purchase a shopping center in Berks County for $53 million.
The 361,000-square-foot Exeter Commons occupies 37 acres in Exeter Township. Construction was completed in 2009.
The agreement is a joint venture between Cedar and RioCan Real Estate Investment Trust, a Canadian firm. The deal, which is expected to close by Aug. 1, involves New York-based Cedar as the manager of the property.
Click here to read full article.
Tags: commercial real estate, Retail, retail shopping center
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08May
NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, and Chesterfield Faring Ltd., a leading real estate restructuring group, today announced a joint venture to assist clients in need of financial restructurings.
Click here to read the full article:
Tags: commercial, Lending, nai global
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29Apr
John Thiry provides the Lancaster, PA commercial listing brochure as a courtesy to his clients:
Lancaster PA commercial listings – 2010 Spring
Tags: commercial real estate
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17Mar
Rachel Irving from CoStar reports: The Shoppes at Landis Valley to Break Ground in the Fall
LMS Commercial Real Estate purchased 9.2 acres in Lancaster, PA, for $5.45 million, or $587,000 per acre, for redevelopment. BJP Associates Inc. sold the property, located at 2363 Oregon Pike, after being under contract for approximately 18 months.
The new project, known as The Shoppes at Landis Valley will consist of three retail outparcels and more than 30,000 square feet of office and retail space. The property currently contains a former Quality Inn and Suites, which is scheduled to be demolished. New construction is slated to begin in the fall.
Both parties were represented in-house in the deal.
Please refer to CoStar COMPS # 1874678 for more information on this transaction.
via LMS Commercial Plans Redevelopment in Lancaster – CoStar Group.
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08Feb
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22Jan
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.
870WMainStBrochureMap powered by MapPressTags: Car Wash, For Sale, Investment, Restaurant, Retail
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20Jan
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.
Tags: Central Penn Biz Journal, Foreclosure, Lending, Press
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10Dec
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.
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04Dec
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 AdvisorNAI Commercial Partners, Inc.
930 Red Rose Court, Suite 200
Lancaster, PA 17601Office: 717-283-0600 x108
Mobile: 717-413-1457
Fax: 866-354-1923 (toll free)Showcase Properties
NAI Profile
LinkedIn ProfileTags: Broker, John Thiry, Lancaster PA, NAI Commercial Partners, NAI CPI
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