From the Sales Desk. A publication of the Bill Gladstone Group of NAI CIR. In This Issue

Transcription

1 A publication of the Bill Gladstone Group of NAI CIR January 2011 Giving Back to the Community President of the Central PA Region of PNC Bank, Dennis Brenckle, shares how community service has played a vital role in his career W By Dennis P. Brenckle We at PNC have viewed community service as good business. This view has many facets, not the least of which is the good it does for mankind. The need for human capital and money is a constant in all of the communities we serve. Having worked for PNC for forty years, the company has allowed me the opportunity to serve in many capacities. There is a saying that we live life looking forward, but understand it in reverse. When I review my history of community service, the list of organizations is many and varied, from Rotary, Salvation Army, United Way, Cincinnati Symphony, Harrisburg Symphony, Harrisburg Regional Chamber, the Boys and Girls Club, the YMCA, Tres Bonne Annee, and the Milton S. Hershey Medical Center and College of Medicine, just to name a few. During this time, each of these organizations had a different mission, and as I became involved, it was rewarding both personally and professionally. You learn things your job cannot teach you. You reach beyond the customer and colleague to friend and mentor. The bottom line is not merely financial, but fulfilling the mission, and that balance was very important in molding the person I am today. Whether it was an appreciation for music, wine, education, or youth, community service helped me become a well-rounded professional. The United Way has been an essential part of the PNC culture throughout my tenure. United Way s emphasis on addressing community needs through partnership, and in a holistic way resonates with our core values. Recently in addition to our regular corporate contribution and annual employee giving campaign, we were able to contribute $50,000 to United Way of the Capital Region to establish several Prosperity Centers. This service will augment existing basic services, such as emergency food, shelter, and access to other assistance (Continued on page 3) From the Sales Desk In This Issue p SOLD 250 N. 8th Street, Lebanon This 8,400 SF building sits on 1.7 acres. It was a former train station and was purchased by the adjacent YMCA to use as offices for staff and additional programs. 1, 3, 5 Giving Back to the Community 2-7 Featured Listings 8 Commercial Real Estate Markets Begin Long, Slow Recovery ext. 120 p LEASED 420 Market Street, Lemoyne wgladstone@naicir.com This 1,085 SF multi-tenanted building has been leased to a nail and waxing salon that will open in the second quarter of

2 N E W L I STIN GS poffice LEASE Deer Path Road, Harrisburg 2,626 SF available in suite 200 on second floor. Located in Susquehanna Township - Northwoods Crossing Office Park. High profile two-story Class A office building at signal controlled intersection. Close proximity to I-81 and downtown Harrisburg. Parking ratio of seven spaces per 1,000 SF. Renovated in pcommercial SALE Walnut Street, Harrisburg 1,824 SF garage/commercial building in highly traveled location of Penbrook Borough. Average daily traffic count on Walnut Street is 12,505. Priced to sell quickly. Includes garage space with small office/ show room with two 9 x 8 garage doors. Zoning permits auto service stations, auto body and paint, wood/metal work shops, print shops, personal services, retail stores and similar uses. poffice LEASE Sturbridge Drive, Harrisburg 5,400 SF available - can be subdivided. Newly constructed class A office space for medical or professional use. Space is in shell condition, ready to accept a build-out designed to suit tenant. Located in Sturbridge Business Park along Route 39. Superior access to all amenities including lodging, Super Giant store, eateries, gas, banking, and all major transportation corridors. poffice LEASE Lenker Street, Mechanicsburg 765 SF Available. Small professional office suite conveniently located in business park. Excellent location off highly traveled Carlisle Pike. Parking ratio of five spaces per 1,000 SF. Building and suite signage available for your business. Zoning permits professional office uses and similar uses. pwarehouse LEASE Slate Hill Road, Camp Hill pcommercial LEASE Carlisle Pike, Mechanicsburg 3,077 SF available in the heart of the retail stretch on the Carlisle Pike. Front showroom consists of a large open room including 1,152 SF; rear garage includes 1,925 SF. Coming soon are an Infiniti auto dealership, Babies R Us and more. 30,000 cars pass along this location daily. 30+/- parking spaces; more can be made available. Zoning permits personal services, dry cleaning, vehicle repair/service and body shops. 2 Only 8,960 SF of warehouse space available in this well-situated flex building. The landlord, Thos. Somerville Co., is the anchor tenant of this 72,000+/- SF building. Conveniently located off Route 15 which provides immediate access to Route 581 and the PA Turnpike (I-76) with quick connections to I-81, I-83, I-283 and Route 22/322. 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 CIR, 1015 Mumma Road, Wormleysburg, PA PA License #RB024320A CIR Commercial Real Estate Services, Worldwide l

3 Giving Back to the Community (Continued from page 1) programs, with financial literacy training that will help set families on a course toward financial independence. The United Way has always been there to meet the basic needs of the less fortunate. But to truly make an impact long-term, we must equip families with the knowledge and skill set to help themselves. With sharp declines in state funded Neighborhood Assistance Program funding, PNC had to proactively and creatively develop this idea for implementation in Central, Northeast, and Southeastern Pennsylvania in partnership with the United Way. Beyond merely funding these programs, our employees will be involved as volunteer instructors, teaching financial literacy curriculum at these prosperity centers. This type of public private partnership is exactly the model that I have labored for at PNC and have pursued throughout my four decades with the company. Community service is not just writing checks. It is getting intimately involved in making effective change in our community. In a similar partnership, seven years ago, PNC launched its primary philanthropic initiative. Grow Up Great is a ten year, $100 million commitment to support early childhood education. I recall vividly being a part of the senior management team at PNC that helped develop the Grow Up Great initiative. Through the course of our involvement in supporting many community needs, it became apparent first that early childhood education was a proven method of addressing issues such as economic and workforce development, literacy, delinquency, teen pregnancy, and so on. Secondly, we were seeking a cause that we could put the entire energy and focus of the corporation and its employees into "Giving back to the community has many rewards. Personally, the people I have met on boards and over the years have become friends, advisors, and customers. There is also the "psychological income" that one receives from helping others, or raising money to fulfill the mission." making a lasting and meaningful impact. PNC Grow Up Great, as this initiative is called, is not just a monetary commitment. It involves active partnerships between our employees and local early learning centers. Our team members are not just making check presentations. They are working in the classrooms with educators and children as volunteers. They are serving in leadership positions. And they are identifying ways that we can develop new partnerships with other organizations to help our youngest children be ready to thrive in school. As president of the Central Pennsylvania region, community service is an essential part of my job description. Leadership in the community allows PNC to make a difference not only in the manner we donate our funds, but the impact those funds have on the quality of life and economic growth of our community. Giving back to the community has many rewards. Personally, the people I have met on boards and over the years have become friends, advisors, and customers. There is also the psychological income that one receives from helping others, or raising money to fulfill the mission. As an example, one of the most significant efforts that I have been involved with in my time as regional president is being a founding member of the board of both Whitaker Center for Science and the Arts and Tres Bonne Annee, a series of events to benefit Whitaker Center. When I returned to Central PA, Whitaker Center was under construction. Being involved in the formation of such a key regional asset was immensely rewarding. But once the doors were open, the need for a continuous source of support was evident. Tres Bonne Annee was (Continued on page 5) INVESTMENT LISTINGS p SALE Derry Street, Lancaster Street, Harrisburg Portfolio of four properties; three existing buildings and 3 acre vacant parcel. 2 buildings are leased to Kaplan Career Institute until Great upside potential with development of the 3 acre site and leasing of the apartments/dorms (16 units: 8 two-bedroom units, 8 threebedroom units), 8.2%± CAP rate. Kaplan has been in this location since the 1970s and recently spent $1 million to upgrade the facilities. psale Old State Road, Dauphin 8 Units plus two-story home and land for development. Includes 10 acres of land (half residential). Located in Middle Paxton Township, close to Clarks Ferry Bridge (Route 322). Great opportunity to live in the home and operate the motel. Excellent visibility and great access from heavily traveled Route 22/322. It is a great chance to have your own business and grow it. The concept for low daily rates from per diem business people works very well here. 3

4 O F F I C E L I S TIN GS p LEASE 4201 East Park Circle, Harrisburg 10,890 SF available; can be subdivided to 3,826± SF. Upgraded interior and exterior; high-end finishes throughout. High visibility and sign exposure to I-83. Free on-site parking in excess of 5 spaces per 1,000 SF. p SALE/LEASE Industrial Road, Lewisberry 10,100± SF freestanding building currently configured with 3,735± SF of warehouse/storage space. Building can accommodate additional warehouse space. 2 drive-in doors and small fenced outside storage area. Easily accessible to I-83. p LEASE Century Drive, Mechanicsburg 1,458 SF shell space; finished to suit tenant s needs. 86 in-common parking spaces. Beautiful wraparound ribbon glass window lines and high-end finishes in the lobby. Great location for professional, medical and government office uses. Free Rent - 1 month per lease year. p LEASE Colonial Road, Harrisburg 1,900 SF first floor suite. Functional floor plan allows for a variety of professional and medical uses. Convenient Colonial Park location with high visibility. Location is convenient to many amenities and a full I-83 interchange. p LEASE 208 N. Third Street, Harrisburg 2,090-4,542 SF office suites. Prime Central Business District location facing the State Capitol. Multiple parking garages available within 1 block. Turn-key suites ready to move in. p LEASE Market Street, Camp Hill 6,634 SF available in this beautiful architecturally enhanced office building. Finished, turn-key ready office suites for every size tenant. Sits at signalized intersection on a busy West Shore commercial corridor with easy access and quick connections to all major highway networks. p SALE - 27 Miller Street, Lemoyne p LEASE 210 Walnut Street, Harrisburg 5,000 SF available on the second floor with functional floor plan. Turn-key space ready for you to move in and start working. Garage parking included - 1 space per 1,000 SF. Just a few steps from the Capitol Complex, Strawberry Square and Restaurant Row. Priced competitively. 4 15,000 SF remodeled office building with plenty of open space for adaptation to many uses. Building lends well for subdivision to create a multi-tenant office property. On-site parking for 30± vehicles plus street parking available. Zoning permits offices, medical clinics, churches, financial offices and school uses. 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 CIR, 1015 Mumma Road, Wormleysburg, PA PA License #RB024320A CIR Commercial Real Estate Services, Worldwide l

5 Giving Back to the Community (Continued from page 3) founded with the help of several Whitaker Center friends and board members. Success has many fathers, and in that context, the Whitaker Center/ Tres Bonne Annee story ranks among the most successful community projects with which I have been involved. Having served for ten years as chairman, we have raised over $3 million to support Whitaker Center. Now Whitaker is a shining cornerstone for Arts and Science education for our entire region. Since opening in 1999, Whitaker Center has hosted more than $3.7 million visits. More than 450,000 students have enriched their knowledge of the sciences at the Science Center, and the entire facility has generated more than $270 million in economic impact for the Harrisburg region. Carrying our support further, as we rolled out PNC Grow Up Great in Central PA, we partnered with Whitaker Center and Capital Area Head Start to provide top notch training and development for early childhood educators. Now teachers are better equipped to provide early science learning in their classrooms, and will help inspire the next generation of doctors, researchers, and scientists. Whitaker Center competed for, and was awarded, a national grant from the PNC Foundation, joining other science centers like the Carnegie Mellon Science Center, the Smithsonian Institute, and the Franklin Institute in partnering with Grow Up Great early "I challenge each of you this coming year to consider not only what your personal takeaway will be at the end of 2011, but what good you have left behind that will carry forward long after you are gone." learning centers. This successful partnership amplified what we would have been able to accomplish separately, or with donations in dollars alone. As a father of two children, I often ask my kids following a particular experience what they will be taking away from it. One of the best takeaways from the forty years I have spent in banking continues to be the opportunity to give. I have learned that if you truly want a rewarding and successful career, you have to serve others: customers, teammates, and the community. The work you do to improve the community in which you live will be your lasting legacy. As I grow older, I plan to continue my service on various boards, like chairing the $300 million capital campaign to support the Penn State College of Medicine and Milton S. Hershey Medical Center. Projects such as these become foundations for the good of our community. I challenge each of you this coming year to consider not only what your personal takeaway will be at the end of 2011, but what good you have left behind that will carry forward long after you are gone. Working together for our community, beyond the mere scope of our professions, we can accomplish great things. About the Author: Dennis P. Brenckle is president of PNC Bank, Central PA region, a title he has held since During his forty year tenure at PNC, he advanced through several management positions in Pittsburgh, served as president and chief executive officer of Hershey Bank, a PNC company, and directed retail banking and the Private Bank in PNC s Cincinnati market. A graduate of Duquesne University and the Stonier School of Banking at Rutgers University, Brenckle has been an active community servant. He is a member of The Milton S. Hershey Medical Center board of directors and serves as chairman of Penn State Hershey Medical Center's For the Future Campaign. Brenckle is a founding member and Chairman of the Board for the Pennsylvania Partnership for Culture, Health and Education, Inc. known as Tres Bonne Annee. He serves on the boards of the Harrisburg Regional Chamber and Harrisburg Area YMCA. INDUSTRIAL LISTINGS p LEASE Blue Eagle Avenue, Harrisburg 16,000 SF in modern office/warehouse flex facility. Exposure along I-81 with easy access and less than 1 mile to a full interchange. 18 clear ceiling height. 1 dock and 2 drive-in doors. Leasing incentive - 1 month free with every lease year! p LEASE 5340 Jaycee Avenue, Harrisburg 12,968 SF in modern flex facility. Can accommodate 3,400-9,568 SF contiguous. Easy access off Route 22 and quick connection to I-81. Has 16 clear ceiling height. Includes 6 docks and 7 drive-in doors. Leasing incentive - 1 month free with every lease year! 5

6 C O M M E R C I A L L I STIN GS p LEASE 2308 Patton Road, Harrisburg 2,267-2,297 SF available in Lower Paxton Township. High income demographics - over $125,000 average within 1 mile radius. Expanding corridor - many retailers, offices and residential neighborhoods close-by. p LEASE Simpson Ferry Road, Mechanicsburg 3,293 SF self-contained end unit. Surrounded by commercial and retail uses; neighbors two shopping centers. Convenient to US Route 15, Rossmoyne Business Center and PA Turnpike (I-76). On-site parking available. Zoning permits daycare, offices, personal services, dry cleaning, restaurants, bakeries, retail stores, florists and schools. p SALE W. Market Street, York 1,300 SF available. Gas station/convenience store with 4 gas pumps plus diesel pump available for sale. Located on Route 30, one of Central PA s busiest corridors, with exposure to over 32,000 vehicles per day. Competitively priced for a quick sale. Sale includes furniture, fixtures and equipment. p SALE N. Third Street, Harrisburg 4,800 SF building in the expanding mid-town area. Redevelopment opportunity for mixed-use project. Located 2 blocks from the new HACC Midtown Campus and new 72,000 SF mixed-use Campus Square Building. Leasing incentive - $25,000 to buyer! p LEASE S. Main Street, Biglerville p SALE N. 2nd Street, Harrisburg 20,000 SF, The Quarter, a 4 level restaurant bar-nightclub, located on restaurant row in downtown Harrisburg. Great turn-key opportunity for entrepreneurs. Building completely remodeled and upgraded in Building is adaptive for office, commercial, personal service or mixed-uses. A fifth floor can be added on. 1,568 SF repair garage with gas pumps. Situated at the corner of Route 394 and 34; approximately 6.5 miles from US 15. Ample on-site parking and storage for automobiles. Daily traffic count on Route 394: 2,282; Route 34: 5,736. p SALE Jonestown Road, Harrisburg please/sale Simpson Ferry Road, Mechanicsburg 3,080 SF available. Excellent retail location across from Windsor Shopping Center and near East Gate Shopping Center. Tenants include Battery Warehouse, Miller s Racing Parts, Market Street Music, and Johansen Studios. 6 5,337 SF building on 0.82 acres with office/showroom and shop/warehouse space. 120 ± of frontage along Route 22. Neighbors include major retailers in the Paxton Towne Centre and Colonial Commons. Over 22,000 cars daily on Route 22. 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 CIR, 1015 Mumma Road, Wormleysburg, PA PA License #RB024320A CIR Commercial Real Estate Services, Worldwide l

7 Pennsylvania Landmark The Merchant's Exchange Building is located in Philadelphia, PA at 143 South Third Street. Upon its completion in 1834, the building became the financial center for Philadelphia, housing marine insurance companies, Philadelphia Board of Trade, Philadelphia Stock Exchange, and commercial houses. Source: LAND LISTINGS LOCATION ACRES ZONING TYPE 5140 Jonestown Road & 4 Carolyn Street, Harrisburg, Dauphin County 1.23 Commercial General Sale 638 Alricks Street, Harrisburg, Dauphin County 1.32 Heavy Industry Sale 1203 S. 13th Street, Harrisburg, Dauphin County 1.44 Residence Zone No. 4 Sale 260 N. Hershey Road, Harrisburg, Dauphin County 1.57 Commercial Sale 4801 Union Deposit Road, Harrisburg, Dauphin County 1.74 Office Sale Milroy & Grayson Roads, Lot 16, Hummelstown, Dauphin County 1.92 Manufacturing District Sale Wildwood Park Drive, Harrisburg, Dauphin County 2± Commercial (good restaurant site) Sale East Cumberland Street (Route 422), Lebanon, Lebanon County 2.2 Commercial Sale Route 15, Dillsburg, York County 2.29 Mixed Use Center District Sale St. Johns Road, Camp Hill, Cumberland County 3.05 Commercial/Office Sale Good Hope Road Unit #3, Enola, Cumberland County Office Sale Lena Drive, Lot 15, Mechanicsburg, Cumberland County 6.92 Planned Business Center District Sale Route 22 & Route 39, Harrisburg, Dauphin County 7.7 (6 lots) Commercial Highway/Office Sale Eisenhower Blvd., Harrisburg, Dauphin County 10± General Commercial Sale 4220 Linglestown Road, Harrisburg, Dauphin County 12.9 Commercial Sale 7700 Derry Street, Harrisburg, Dauphin County (8 lots) Commercial Sale Carlisle Pike (Route 11) Waterford Square, Mechanicsburg, Cumberland County (13 lots) Commercial Sale (NWQ) N. Union Street & Route 441, Middletown, Dauphin County Commercial Sale Harrisburg Street (Route 441), Harrisburg, Dauphin County 27.2 Commercial Sale Sold N. Hershey Road, Harrisburg, Dauphin County 34± Neighborhood Commercial Sold Rose Hill Farm, Gettysburg Pike, Dillsburg, York County Residential Suburban-2 Sale 1235 S. Market Street, Elizabethtown, Borough of Elizabethtown 1.31 Commercial General Sale/Lease Milroy & Grayson Roads, Lot 17, Hummelstown, Dauphin County 1.72 Manufacturing District Sale/Lease 6325 Chelton Avenue, Harrisburg, Dauphin County 3.75 Business Campus Sale/Lease 1282 S. Market Street #Lot 2, Elizabethtown, Lancaster County 1.0 Commercial Lease US Route 11 & PA Turnpike, Lots 4-5, Carlisle, Cumberland County 1.54 & 1.38 Commercial Lease Route 11 & PA Turnpike, Carlisle, Cumberland County 2.66 Commercial Highway Lease 1205 Harrisburg Pike, Carlisle, Cumberland County 2.72 Commercial Highway & Residential Lease 4141 Linglestown Road, Harrisburg, Dauphin County 4.0 Commercial Lease Stoverdale Road & Middletown Road, Hummelstown, Dauphin County 5.0 Neighborhood Commercial Lease CIR Commercial Real Estate Services, Worldwide l 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 CIR, 1015 Mumma Road, Wormleysburg, PA PA License #RB024320A 7

8 C o mm e rc ial Real Estate Mar kets B e gin Lo ng, Slow Recove r y The commercial real estate industry struggled through the start of 2010, but by year's end there were signs that conditions worldwide had stabilized and were beginning to improve, according to the 25th annual Global Market Report released by NAI Global. or renegotiating leases, securing investment properties, disposing of underperforming assets and finalizing plans for growth in the next 24 months. We expect a much more active market for buyers, sellers and occupiers as conditions continue to improve." After a prolonged, challenging period marked by frozen credit, sidelined investors, stalled development, rising vacancy rates and declining rental rates and property values almost anywhere you turned, improvement, albeit modest, is expected in just about every market sector and geography in The investment market also showed signs of life in 2010 as credit markets thawed. The massive wave of foreclosures that was predicted heading into 2010 never materialized as financial institutions opted to extend or re-work troubled loans. However, the sidelines are growing crowded with REITs, private equity and institutional investors who have amassed a tremendous amount of capital and are actively looking for deals, said Finn. Commercial real estate investment should also get a boost from new investors drawn to real estate in pursuit of yields and further enticed by record low interest rates. Much of the activity in 2010 was driven by corporate space users taking advantage of a tenants' market worldwide to lock in low effective rental rates and reduce their overall occupancy costs. Office rental rates in some markets have fallen more than 30% from their mid-2007 peak. This activity is expected to increase as economic growth returns, further unleashing significant pent-up demand. "Although 2010 was another very challenging year for the industry, we began to see clear signs that the global economy and commercial real estate markets had stabilized and were beginning to improve with a noticeable pickup in transaction volume around the world," said Jeffrey M. Finn, President & CEO of NAI Global. "Companies around the globe are taking advantage of the current market, extending Markets across the U.S. are showing signs of recovery, as are parts of Asia, Europe and Latin America. But financial collapses in countries like Greece, Iceland and Ireland are endemic to the rocky global recovery. For every Brazil and China, countries that are showing signs of strong growth, there are contrary markets like Spain that are showing signs of a prolonged recession. Source: NAI CIR P.O. Box 8910 Camp Hill, PA PHONE: FAX: BILL GLADSTONE, CCIM, SIOR PRESORTED STANDARD U.S. POSTAGE PAID Harrisburg, PA Permit No. 783