ROCK Commercial Real Estate

You have space to lease or a building to sell. You call your favorite real estate broker, ROCK Commercial Real Estate, and ask us how we can help. In challenging times the best advice is sometimes the most obvious advice. When there are fewer potential buyers and tenants and more buildings to choose from in difficult economic conditions, reverting back to the basics may be the best route.

Creating a difference. Pay attention to the competition and price the property in line with other properties. Property attributes should be featured and promoted. Is there a way to market to a specific tenant/buyer segment? Combining or separating spaces can offer an advantage. Checking the list of permitted uses allowed in the zoning ordinance ensures all possible users are being contacted. The age of the property may play a part in the potential occupants’ decision. There is no way to avoid the impact of codes compliance and permitting. Older properties, on average, usually require an investment to make them ADA compliant and to create some life safety protection (panic hardware, exit signs, fire extinguishers, etc.). A budget should be created for these building enhancements so that they are not being negotiated after the fact.

First impressions last. Make sure the building or space is easy to show, the access is convenient, and the appearance is clean and inviting. Make sure any leftovers from the previous tenant are gone. The obvious repairs should be made, don’t let a minor repair impede negotiations with a good potential tenant. Perhaps a little paint or a thorough professional cleaning will help tenants or buyers know they are getting quality space. A recent article from the October 2009 CoStar Advisor Newsletter notes that buildings that had high occupancy rates have gained tenants and buildings with low occupancy rates have gotten even lower. The reason isn’t clear but the article clarified, “The moral to the story is that it is more difficult and takes longer to turn around a building that has a negative history and perception, despite investing significant dollars and doing everything 'right' by a proven developer who is well known in the market.” The CoStar Advisor Newsletter also pointed out, “In a market like we live in today, any prospects that are out there will gravitate to what (they perceive to be) 'successful' buildings with a track record of strong management and ownership. And why wouldn't they? They have their pick of the litter.”

What’s it cost? Come up with a plan for the best way to state the price. For leasing space, we should determine if the rate should be triple net, gross or somewhere in between. Is the CAM cost clear and easily supported? How much will the mortgage be under average circumstances? Everyone is trying to make good business decisions and your broker should be able to convey the price terms clearly for any potential buyer or lessee.

Does detail confuse the offering? We work hard to make sure we have all the relevant data for each listing but that data should not interfere with the base information of the property offering. Keep it simple and have the backup detail ready once serious interest is shown.

In challenging times, a real estate broker needs to do more for you than put a sign on a property and wait for the phone to ring. Your ROCK agent can be your partner in making the best marketing decisions to protect interest in your building, your new purchase or new tenancy.

Office Highlights

AVAILABLE SPACE 1-3 South George Street, York PA 17401

1-3 South George Street, York PA

Derek Dilks, of Dilks Properties of Harrisburg, LLC, specializes and focuses on historic buildings. After successfully taking on several projects in Harrisburg 33-41 West Market Street, York PA 17401

and other markets, Mr. Dilks has set his sights on York County. Recently, he has purchased the Rosenmiller Building in York at 33-41 West Market Street which was constructed around 1909 and the Beechwood Center in Hanover at 118 Carlisle Street which was constructed around 1896. 118 Carlisle Street, Hanover PA 17331

Mr. Dilks’ appreciation, understanding, and respect of these unique and marvelous structures really shows. His plans include maintaining the character of these buildings while giving back to the surrounding communities as mixed use properties.

The Phillips Group leased 1,061 square feet of office space at Sixth Avenue Professional Center, 1600 Sixth Avenue in Spring Garden Township in York County, PA.

33-41 West Market Street, LP bought the historical Rosenmiller mixed use building located at 33-41 West Market Street in York City in York, PA. The site consists of 25,762 square feet and 0.34 acres.

Dorn Electric leased 1,690 square feet of office space at Stonebridge Plaza, 781 Far Hills Drive, Suite 450 in Hopewell Township in York County, PA. ROCK Commercial Real Estate, LLC represented the tenant in this transaction.

Maxim Healthcare Services, Inc. leased 1,700 square feet of office space at 871 Clare Lane in Windsor Township in York County, PA.

Manito, Inc. leased 2,916 square feet of office space at 1681 Kenneth Road in West Manchester Township in York County, PA.

R. Calhoun & Associates, Inc. leased 943 square feet of office space at 871 Clare Lane in Windsor Township in York County, PA.

Advance Realty Heritage, Inc. leased 1,170 square feet of office space at 1150 Elm Avenue in Hanover, PA.

Gary K. Hollenbaugh leased 1,900 square feet of office space at 2756 South Queen Street in Dallastown, PA.

Manito, Inc. leased 10,861 square feet of office space at 1731 West Philadelphia Street in York, PA.

ROCK Commercial Real Estate Newsletter Office & Investment Issue - October 2009

Feature Article Helping Owners in Challenging Times - By Russ Bardolf, CCIM, SIOR

Office Highlights

AVAILABLE SPACE

1-3 South George Street, York PA