ROCK Commercial Real Estate, LLC
Susquehanna Commerce Center West
221 West Philadelphia St. Suite 19
York, PA 17401-2992
717-854-5357 / Fax: 717-854-5367

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ROCK Commercial Real Estate Newsletter Industrial Issue - August 2010

Feature Article

Seven Keys to Help Move Your Property by David Keech, CCIM, SIOR

Commercial Real Estate tends to follow the businesses that use it. As companies look to cut costs, reduce overhead, work forces and expenses, they place excess real estate on the market for sale or lease.

Consumer and business confidence in the government handling of finances to help our nation pull through the recession is at an all time low. As a result, most people in need of commercial real estate for their business are looking to lease versus buy for their immediate needs. Leasing has remained steady over the last two (2) years, however, properties are becoming available faster than they are being absorbed causing an abundance of available properties.

For those of you that project a long term need for your business, NOW is the time to buy. Prices and lease rates are the lowest they have been in five (5) years.

But what do you do if you own real estate for sale or lease?

Here are seven suggestions that will help position your property to make it attractive for those looking to buy or lease.

Price your property to compete with the current market. Buyers and tenants are more cost conscious than ever. Be aware of competing asking rates.
Keep your property clean and landscaped. Cobwebs and dust are never attractive and first impressions are important when there are other options.
90% of real estate problems come from roofs or heating, ventilation and air conditioning (HVAC) systems. Make sure your roof and HVAC system is in good shape and your building will be one of the first considered.
If your property is for lease, make functional improvements to electrical, mechanical, access, entrances, and restrooms to meet municipal code requirements. Do it now, if possible. Government approvals for tenants can take 30 to 90 days just to get an occupancy certificate. Unfortunately, many tenants start looking only 30 days before they need to find space. Properties that are ready to occupy will get the tenant.
Be prepared to make tenant improvements. Know how much you can afford to upgrade going into the lease negotiations.
Don't lock into long term leases without rental adjustments. The commercial real estate market will hopefully improve in the next 12 to 18 months. Then will be the time to adjust rental rates.
Hire a professional commercial real estate broker. A broker that knows your market and has the research and marketing capabilities to get your property in front of all prospects from local to national in all types of media.

In today’s Real Estate Market, success comes to those who focus on their goals, make sacrifices to meet their goals, and take action to move toward their goals. Those who sit and wait will fail.

Spotlight Industrial Property

180 Roosevelt Avenue - York, PA

SMALLER HEAVY MANUFACTURING BUILDING. For Lease. Located in the Industrial Plaza of York off Roosevelt Avenue in the City of York. First floor is 22,235 total square feet. 180 Roosevelt Avenue, York PA 17404

Bridge cranes (5 & 10 ton)
3-phase electric, 1,600 amp, 480 volt
Two recessed docks
One drive-in door

Email Kevin Hodge, CCIM, Cami Spiridonoff, CPM

2nd Quarter Vacancy Report

Local industrial vacancy rates remained significantly lower than the national average.

The York County industrial market is comprised of 70.5 million gross square footage. The overall industrial vacancy rate for the 2nd quarter of 2010 was 7.68% with a total of 5,420,026 SF of vacant space.

Market statistics from this summary have been gathered and analyzed by the Research Department of ROCK Commercial Real Estate.

Click here to read the full report.

Recent Transactions

Michael L. Streavig leased 10,730 square feet of industrial space at 435 East Locust Street in Dallastown Borough in Dallastown, PA. ROCK Commercial Real Estate, LLC represented the landlord in this transaction.

SMDJ, LLC bought the industrial property located at 33 North Market Street in Mount Joy, PA. The site consists of 28,967 square feet on 1.26 acres of land. The tenant using this space will be Up Front Footwear. ROCK Commercial Real Estate represented the buyer in this transaction.

Cascade Orthopedic Supply, Inc. has leased 19,800 square feet of industrial space at 360 Steel Way, Lancaster, PA. ROCK Commercial Real Estate, LLC represented the tenant in this transaction.

Perform Group, LLC. sold the industrial property located at 555 Willow Springs Lane in East Manchester Township in York, PA to International Brotherhood of Electrical Workers Local 229. The site consists of 18,800 square foot and 6.13 acres.

Fashions Unlimited, Inc. has leased 9,936 square feet of industrial space at 60 South Prospect Street in Hallam, PA.

Idea Tree, Inc leased 2,325 square feet of industrial space at 34 West Clarke Avenue, York, PA.

Keystone Weaving Mill, Inc. sold 1320 West Market Street, York, PA to Redevelopment Authority of the County of York. ROCK Commercial Real Estate, LLC represented the seller in this $1 million dollar transaction.

415 Zarfoss Road, York County Transportation Authority Susquehanna Real Estate, LP sold 415 Zarfoss Drive, York, PA to York County Transit Authority. ROCK Commercial Real Estate, LLC represented the seller and the buyer in this $6.4 million dollar transaction.

Kline’s Services, Inc. leased 10,750 square feet of industrial space at 715 Willow Springs Lane in York, PA.

Syncreon.US,Inc. leased 216,000 square feet of industrial space at 515 Zarfoss Drive, York, PA. ROCK Commercial Real Estate, LLC represented the Landlord in this transaction.

Robert Foltz sold 15,716 square foot warehouse building and 2.34 acres at 5 Interchange Place located in York, PA to The Nutrition Group. ROCK Commercial Real Estate, LLC represented the seller in this $725 thousand dollar transaction.

View ROCK Recent Transactions

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ROCK Industrial Team

Photo by: The Susquehanna Photographic

Left to Right: Lonna Miller, Jason Turnbull, Dave Keech, Ted Turnbull and Kevin Hodge