NAI Keystone's Bryan Cole - November Newsletter Publication - A Publication by Bryan Cole or NAI Keystone Commercial & Industrial, LLC, Information about the Berks and Schuylkill County market, and properties for sale or lease.
Greater Reading Providing information and resources for the area's business and commercial real estate decision makers. A Publication by Bryan E. Cole of NAI Keystone Commercial & Industrial, LLC November 2009 STRAIGHT FROM THE NAI BLOG Retail Land Sale Douglassville PA NAI Keystone handles the sale of a prime lot in Douglassville PA fronting Route 422. The site fronts both 422 W and E. The new owner is currently in talks with a end user. The site is directly next to McDonalds and was part of a real estate owned portfolio of Park Ave Funding. Warehouse/Office Flex Space Shoemakersville, PA Tenant and Landlord Representation – When you need someone on your side! By Bryan Cole, Industrial and Office Specialist for NAI Keystone Tenant and Buyer Representation – You need representation too! Your primary objective is running your business. While everyone has a little bit of knowledge of the current market conditions, it is always good to be represented by someone who is well aware of and understands all aspects of the current market climate: i.e. rental rates, availabilities, incentives in the market, etc. In most instances, your primary business is not leasing or buying real estate. However, most property owners have leased space numerous times and some do it each and every day. Most of the time owners hire brokers to represent them in leasing/selling and marketing their facilities. These brokers are known as Listing Brokers. The brokers representing these properties have the owner’s best interest in mind. Do they have an advantage? Absolutely! The Listing Brokers are well aware of the market, they are familiar with the competition, and they know what to do to get the most favorable terms for their owner. Many tenants believe engaging a Tenant Rep will result in paying a higher rental rate. Or, you may have heard from Tenant Reps that engaging a broker to represent you will not cost you anything. So what should you believe? In most instances, especially when there is a Listing Broker involved, there is already a brokerage fee incorporated into the rental rate. This fee will be paid to the Listing Broker even if you are not represented. You are not saving money by going into the deal alone, regardless of what you are told. A knowledgeable Tenant Rep could be extremely valuable in buying or leasing a facility. They can provide you with the best case scenario between buying versus leasing. You would be surprised to know, when you add up all of the variables involved, it may end up being much cheaper to purchase a building rather than lease a building and vice versa. A lot goes into a proposed deal: improvements, moving costs, professional fees, operating costs, tax advantages, and much more. These can all be factored in! Be sure to ask your Tenant Rep questions. When it comes to buying or leasing real estate, having a good Buyer or NAI Keystone sells the 28,000 SF warehouse/office building at 1450 Main Street, Shoemakersville PA. The new owners, Wall Enterprises, LLC will operate Wiring by Wall, Inc. in a little over half the building. There is 13,000 SF of insulated, open-span warehouse for lease at very competitive rates. In This Issue 1 1,4 2 3 3 4 5 6 7 8 Straight from the NAI Blog Featured Article New Listings Office Listing Current Requirements Resources Office Listings Cont. Industrial Listings Investment & Downtown Prop. Bryan E. Cole Resume PROPERTY OF THE MONTH Next Months Issue.. Looking for Professional Articles... Lease Types - NNN, Gross, ???? Bryan E. Cole, Steve Willems and John Buccinno www.BryanECole.com Bcole@naikeystone.com NAI Keystone BLOG www.Bryanecole.wordpress.com Meridian Building 1 Meridian Blvd, Wyomissing PA • • • Class A Office Building 2,500 sf to 50,000 sf for Lease Café, Gym, Conference Facility are some of this buildings amenities. www.BRYANECOLE.com 2 ———————————— NEW LISTINGS ———————————– PLACE YOUR PROPERTY HERE 1055 Cross Roads, Reading PA 19605 324,162 Sq. Ft. Distribution and Manufacturing Facility. High Ceilings; Food Grade, 51 Dock Positions, Extensive Electrical, 1.7 Million GPD Water & 700 K GPD Sewer. SALE OR LEASE Contact Us Today! Bryan E. Cole @ 610 779 8502 Bcole@naikeystone.com 1450 Main St., Shoemakersville PA 19555 13,000 Sq Ft newly renovated warehouse with high efficiency bay lighting, insulated walls, ceiling and new heater. 28’ ‐ 30’ ceiling heights, 2 docks, 1 drive in. LEASE 5306 Allentown Pike, Reading PA 19605 2,300 + Sq. Ft. prime retail space located in front of Sam’s Club. Over 19,000 vehicles per day. Additional storage facili‐ ties/warehouse space available on‐site. LEASE 430 Franklin St., West Reading PA 19611 Approximately 6,000 Sq. Ft. former West Reading Firehouse available for user or conversions. New roof, boiler 2008. SALE OR LEASE Park Road, Blandon PA Prime Retail Office Space in Blandon Twp. The site is know as MaidenCreek Towne Center and has up to 24,000 Sq. Ft. avail‐ able, Divisible to 1,300 Sq. Ft. LEASE Information concerning these offerings comes from sources deemed reliable, but no warranty is made as to the accuracy thereof, and they are submitted subject to errors, omissions, change of price or other conditions, prior sale or lease, or withdrawal without notice. All sizes approximate. NAI Keystone, 3970 Perkiomen Avenue, Suite 200, Reading PA 19606. ———————————— INDUSTRIAL LISTINGS ———————— 3 171 Tuckerton Road, Reading PA 19605 208,500 Sq. Ft. of Prime Distribution Space; Cross Dock Layout with easy access to Route 422/61. Below market rents with visibility from Route 222. LEASE 201 S. Front Street, Reading PA 19601 60,000 + Sq. Ft. situated on 5+ Acres and located just off Penn Street in Reading. Easy access to Route 422 and has high ceil‐ ings and Is crane served. SALE OR LEASE 1298 Keystone Blvd, Pottsville PA 37,500 Sq. Ft, if Prime Warehouse space located in High Ridge Business Park. Just of I‐81 the site is ideal for any type of warehouse user. LEASE 1157 Arnold Road, Reading PA 19605 Up to 100,000 Sq. Ft. available in this 219,000 Sq. Ft. Class A Distribution Center. Site has high dock/sq. ft. ratio and is avail‐ able from 37,000 Sq. Ft. and up. LEASE WE HAVE BUYERS AND TENANTS LOOKING FOR: We Represent Tenants and Buyers as well… We are looking for the following: • • • • • • • 10,000 - 15,000 Sq. Ft. Flex Space by Reading Airport 120,000 - 130,000 SF Distribution Space (Logistics firm) Large Warehouse Space Any and All Investment Opportunities Medical Space for Sale or Lease Land for Industrial Big Box Development - 50+ Acres Lighted Intersections for Two National Brands 1157 Arnold Road, Reading PA 19605 Up to 100,000 Sq. Ft. available in this 219,000 Sq. Ft. Class A Distribution Center. Site has high dock/sq. ft. ratio and is available from 37,000 Sq. Ft. and up. SUB‐LEASE If you are looking for space give us a call…. Information concerning these offerings comes from sources deemed reliable, but no warranty is made as to the accuracy thereof, and they are submitted subject to errors, omissions, change of price or other conditions, prior sale or lease, or withdrawal without notice. All sizes approximate. NAI Keystone, 3970 Perkiomen Avenue, Suite 200, Reading PA 19606. 4 —————————— Featured Article cont. ———————————– disappointments an owner faces when working with brokers is the amount of time and effort put into their property. Another is the communication back and forth between the broker and the owner. Being an effective landlord rep takes time, energy, understanding, and the ability to market a property effectively. A good Landlord Representative has a marketing plan that is ideally suited for the property he or she is representing. This means, having a step by step process in which he/she will market the property, and contact prospective users. This would consist of website listings, marketing materials, target companies, online marketing sources, promotional items, events, call lists, etc. There is much more to representing an owner than just putting a sign on the building or lot. An effective broker utilizes all means possible to get a quick and favorable deal for the owner. Depending on the type of project, having a time line indicating what and when some of the items will be completed is beneficial to owners. Brokers will also be able to assist in maximizing your potential net income for a property, thus maximizing value if you were to sell. Most brokers are paid a brokerage fee to represent a building. When working with a tenant or buyer representative they would split that fee 50/50. When you start to question why a broker deserves a fee of six percent, understand most brokers pay all marketing costs, advertising fees, and office fees. Your broker is taking a risk whether your property sells/leases or not. Another service broker’s offer is finding buyer/tenant’s that are qualified. The last thing you want is to have a tenant occupy space, spend money for improvements, and default on a lease in 1 year. Be sure to ask your broker’s questions. When it comes to selling or leasing real estate, having a good Listing Broker on your side will save you time and money. By Bryan Cole, Industrial and Office Specialist for NAI Keystone Tenant rep on your side will save you money. You can also avoid mistakes which could have long term consequences. Ways a tenant rep saves you money: • By providing you all available options in the market place as well as providing you a comparison report showing what options you have – factoring in all associated costs; not just rental rate and length of lease. Knowledge –knowing the market, the rental rates, the incentives being offered, and completed deals. Familiarity with documents and an understanding of the process. (i.e. Request for Proposals “RFP”, Letter of Intents “LOI”, Sales Agreement “AOS”, and lease documents. Lease vs. Lease Analysis and/or Lease vs. Buy Analysis. Negotiating Skills – ability to read the owner and the owner’s representatives and react to the information received. Ability to analyze and understand your wants and needs – This allows your rep to make sure you are not leasing more space than you need, to make sure you give yourself leverage for future expansion (Right of First Offer’s, Right of First Refusal, etc.) and to ensure you take all future items into consideration. • • • • • RESOURCES TEAM NAI Keystone: NAI Keystone Commercial & Industrial, LLC provides businesses with the highest quality services and the best real estate solutions for maximizing profitability and performance levels. As a result of our commitment to excellence, we have won the respect of local, national and international clients since our inception. Our clients range from Fortune 1000 corporations, major banks and insurance companies to investors, private institutions, small businesses and local organiza‐ tions. Services Rendered: • 1031 Tax Deferred Exchanges • Tenant/Buyer Representation • Business and Market Data • Sales/Leasing/Subleasing • Portfolio Optimization • Major Project Marketing • Investment Analysis • National and International Corporate Services • Property Management ‐ Commer‐ cial, Multi Family, Industrial • Build‐To‐Suit Projects Landlord Representation - More than just putting a sign on your property! Landlord Representation is similar to tenant representation in that you need to understand the market conditions, competition, market rates, vacancies, and a database of potential customers and targets. Landlord Representatives have a very large role to play. One of the biggest Information concerning these offerings comes from sources deemed reliable, but no warranty is made as to the accuracy thereof, and they are submitted subject to errors, omissions, change of price or other conditions, prior sale or lease, or withdrawal without notice. All sizes approximate. NAI Keystone, 3970 Perkiomen Avenue, Suite 200, Reading PA 19606. ——————–—— INDUSTRIAL LISTINGS cont. —————————– 5 330 Wyomissing Blvd, Shillington PA 19607 28,000 + Sq. Ft. Two Story Warehouse/Office Building located in Shillington PA. Prime residential conversion opportunity. Situated on a 1.76 acre fenced lot. SALE OR LEASE 3001 St. Lawrence Avenue, Reading PA 19606 60,000 Sq. Ft. for Lease in Mt. Penn PA. Owned by a National Corporation; high bay ceilings and self access. Great location along St. Lawrence Avenue. LEASE 1070 Centre Turnpike, Orwigsburg PA 20,000 Sq. Ft. Warehouse/Retail Site along Rt. 61 in Orwigs‐ burg. The site has high visibility and is very well maintained. High ceilings and large fenced lot. SALE OR LEASE 30 North 3rd Street, Womelsdorf PA 120,000 Sq. Ft. Manufacturing Warehouse Building for only 1,600,000. Property is situated on a 5 acre lot and has easy access to Route 422. SALE OR LEASE DEALS AND HIGHLIGHTS NAI Keystone, with the assistance of Park Avenue Funding and Regent Development closed a 1.6 Acre Retail Lot Sale in Douglassville PA. The site was located next to McDonalds and was prime for a single tenant retail user. The developer is in talks with a end user for the site. Thank you, Brad Sokol, Regent Development, and Elliot Neumann from Park Avenue Funding; the property was part of a large take back by the bank. NAI Keystone assisted is disposing of land quickly in a down market. NAI Keystone with the assistance of Wes Pace (Auctioneer) sold the Former Milestone Office Site at 844 Centre Avenue in Reading to Keystone Software Solutions. The site will be utilized as offices. Thank you Ken Spang, of Milestone and Wes Pace. Wes made the deal quick and easy to get done. NAI Keystone sold 1450 Main Street a 29,000 Sq. Ft. Warehouse facility in Shoemakersville, PA. The site owned by Wes Pace and was sold to Wall Enterprises, LLC a electrical engineering and custom component design company. They will be utilizing the majority of the facility. However, there is additional space available for lease. Thank you to Justin and David Wall and Wes Pace. For More Information about Recent Deals and Highlights please check http://bryanecole.com/comapnynews.html or join our mailing list for updated information and news. Still Closing deals in a tough market, by working hard and doing all we can to service our clients. www.Bryanecole.com Information concerning these offerings comes from sources deemed reliable, but no warranty is made as to the accuracy thereof, and they are submitted subject to errors, omissions, change of price or other conditions, prior sale or lease, or withdrawal without notice. All sizes approximate. NAI Keystone, 3970 Perkiomen Avenue, Suite 200, Reading PA 19606. 6 —————————— OFFICE LISTINGS ———————————– Hillvale & Iroquois Ave, Sinking Spring 1 Meridian Blvd, Wyomissing PA 19610 Class A Office Building located just off Route 422 and Route 222 in Wyomissing. High Profile location, with cafeteria on‐ site, conferencing facility, and gym. 45,000 SF available which is divisible to 2,500 SF. LEASE Class A Office complex with all approv‐ als in place. Site will range from a 6,000 SF building to a 53,160 multi story office building. SALE OR LEASE Spring Street, Wyomissing PA 19610 Prime Office Space in Wyomissing PA. 158,000 Sq. Ft. Corpo‐ rate Campus with 11,000 Sq. Ft. available immediately; build to suit opportunities. LEASE 201 Penn Street, Reading PA 19601 95,000 Sq. Ft. Class A Office Facility in Downtown Reading. Prime location with 26,000 Sq. Ft. available. Site is ideal for many types of users. SALE OR LEASE 3970 Perkiomen Avenue, Reading PA 19606 Newly constructed Class A office building in Exeter Township. Prime location with ready to design floor plates. Green Con‐ struction and Loaded with Newest Technology. SALE OR LEASE 2758 Century Blvd, Wyomissing PA 19610 3,478 Sq. Ft. prime medical space in Wyomissing. Easy access to major corridors; single story Class A facility with ample on‐ site parking. SALE OR LEASE Information concerning these offerings comes from sources deemed reliable, but no warranty is made as to the accuracy thereof, and they are submitted subject to errors, omissions, change of price or other conditions, prior sale or lease, or withdrawal without notice. All sizes approximate. NAI Keystone, 3970 Perkiomen Avenue, Suite 200, Reading PA 19606. —————————— Land & Investments ———————————– WE HAVE LAND!!! Prime Retail Ground in Hamburg PA. New Curb cuts proposed right onto Route 61 from the site. Sale or Lease. Fully Approved Residential Land Opportunities - Two Sites; One in Berks County and One in Monroe County. Sale We are selling the entire development - Not Individual Lots Berks County - Just of Route 724 - 77 Townhouse Lots Carbon County - Very Close Proximity to Pocono Resorts Prime Office Ground in Spring Ridge - Fully approved for 42,600 Sq. Ft. Office Building - Sale or Lease Prime Retail Ground on Route 61 in Pottsville PA. Frontage of Route 61. Sale or Lease 7 NAI Keystone has numerous investments properties available for Sale. Some require confidentiality statements to be executed prior to information being released. Please contact Bryan Cole, John Buccinno, or Steve Willems for More Information: We have the following types of investments for sale: Distribution Centers Sale/Leasebacks NNN Properties Strip Centers Class A Office Buildings Fully Approved Residential Sub-Divisions Ranging from $400,000 to $16,000,0000 (We are Exclusive Brokers for these projects) Brokers are Welcome but will need to register their Clients. ————————–—– OFFICE LISTINGS cont. ———————-——– 2001 State Hill Road, Wyomissing PA 19610 52,050 Sq. Ft. Office Building in Wyomissing; newly remodeled space with institutional grade ownership. Property is well maintained and has large parking field on‐site. LEASE 1075 Berkshire Blvd, Wyomissing PA 19610 2,120 Sq. Ft. prime Wyomissing office space with medical type fit‐out and large on‐site parking field. Property is ideal for many types of users and has below market rents. LEASE 10 Hearthstone Court, Reading PA 19606 13,250 Sq. Ft. Two Story office building in Exeter Township. Site is well located and offers on‐site parking field and isolated cul‐de‐sac location. FREE RENT!!!!!! ‐ Sale or Lease 3 Meridian Blvd, Wyomissing PA 19610 42,600 Sq. Ft. Class A To Be Constructed Facility. Located in Spring Ridge and offers easy access and high visibility for a buyer/tenant. Site is ready to be built; SALE OR LEASE Information concerning these offerings comes from sources deemed reliable, but no warranty is made as to the accuracy thereof, and they are submitted subject to errors, omissions, change of price or other conditions, prior sale or lease, or withdrawal without notice. All sizes approximate. NAI Keystone, 3970 Perkiomen Avenue, Suite 200, Reading PA 19606. Bryan E. Cole of NAI Keystone Commercial & Industrial, LLC Bryan E. Cole Office and Industrial Specialist Bcole@naikeystone.com Phone 610.370.8502 Fax 610 779 1985 www.Bryanecole.com Bryan joined NAI Keystone in July of 2004, but before joining NAI Keystone, Bryan Cole spent 4 year’s active duty in the U.S. Marine Corp, including a 6 month deployment in Afghanistan, a 4 month deployment in Kuwait/Iraq, and a 7 month deployment in Japan. Prior to joining the military Bryan was involved in the construction of commercial and multi-unit properties in the Philadelphia suburbs. Bryan has experience working with a diverse group of individuals in numerous countries throughout the world. During Bryan’s time with NAI Keystone, he has sold and leased in the excess of $70 Million Dollars worth of Commercial Real Estate. Because of this, Bryan earned NAI gold club status his first year in the business which is presented to approximately 75 - 100 brokers within the NAI Global network, which is comprised of over 8,000 Brokers. Bryan is currently working on earning both his CCIM designation and SIOR designation. Bryan is currently NAI Keystone's Top Performer for 2006, 2007, and 2008. John Buccinno Office Specialist Jbuccinno@naikeystone.com Phone 610.370.8508 Fax 610 779 1985 www.Bryanecole.com 8 John started his professional career after graduating from University of Michigan working with the consulting firm Booz, Allen & Hamilton in the early 1990's. After learning a little about business in the outside world John opened his own business in commercial/residential lending and real estate development in 1992. The business grew to a 45 person operation with 3 locations and $15 million a year in gross revenues. In 2005 John sold his business and began the process of reeducating himself in the world of Commercial Real Estate. After finding that the best team in Berks County resides at NAI Keystone Commercial & Industrial, LLC John was eager and proud to join the operation in 2007 to further develop his consulting and management skills in the field of commercial real estate. John is currently working on his CCIM designation and with all of the course work completed it wont be long before he meets all of the requirements to be a Certified Commercial Investment Manager. John is a licensed broker in Pennsylvania and Michigan. Return Service Requested 610.779.1400 (Phone) 610.779.1985 (Fax) firstname.lastname@example.org www.Bryanecole.com NAI Keystone Commercial & Industrial, LLC Exeter Ridge Corporate Center Suite 200 Reading, PA 19606 Bryan E. Cole
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