JENNERS VILLAGE PROFESSIONAL BUILDING Jennersville, Pennsylvania On behalf of ownership, Jones Lang LaSalle is pleased to offer for sale a 17,520 square foot professional medical building located at 105 Vineyard Way
PROPERTY DESCRIPTION Overview: Jenners Village Professional Building is located in the heart of Jennersville a community located in Penn Township, Chester County, Pennsylvania. This building is strategically located just off the Route 1 corridor at Route 796, just minutes from Newark, Delaware, Lancaster, Pennsylvania and Cecil County, Maryland. Penn Township prides itself as the commercial, residential and healthcare hub of southern Chester County. Nestled between the White Clay Creek to the north and the Big Elk Creek to the south, Penn Township is home to the Jennersville Regional Hospital, the Chester County Technical College High School, the Jennersville YMCA, the Shoppes of Jenner s Village, the worldwide corporate headquarters of Dansko and Starr Roses. Location: 105 Vineyard Way, Jennersville, PA 19390 Ownership: Size: The Commonwealth Group 17,520 square foot medical/office building Tax Parcel#: 58-004-0051.0000 Zoning: Occupancy: Parking: LI (Limited Industrial) The building is fully leased with the ability to have one or more tenants be released from their obligation 74 on site parking spaces with cross access easement permitting an additional 85 spaces for overflow parking in upper church lot
BUILDING DESCRIPTION Year Built: 2007 Building Height: Construction: Exterior: HVAC: Electric: Elevator: Sprinkler: Restrooms: Lighting: Two (2) story Masonry and steel, reinforced slab on grade and poured concrete over metal decking on second floor Brick veneer over insulation and metal studs with tinted insulated glazing set in aluminum frame Roof mounted gas/electric powered rtu s 800 amp service with 400 amp heat and 400 amp general service along with 227/480 3-phase four wire service One (1) hydraulic 2,500 lb. elevator Fully sprinklered wet/dry combo with dry system in trusses and wet in conditioned areas Common area restrooms on first floor only with ceramic tile Recessed florescent lighting, 2x4 parabolic in tenant suites
Church Parking Easement 105 Vineyard Way
SITE PLAN Church Parking Easement 105 Vineyard Way
AMENITY OVERVIEW Penn Medicine Jennersville Regional YMCA Jenner s Pond Retirement Village Jennersville Regional Hospital 105 Vineyard Way
Regional map AREA OVERVIEW 105 Vineyard Way
Chester County AREA OVERVIEW Population Demographics JLL analyzed an area consisting of ten zip codes surrounding the property, including the towns of Chadds Ford, Kennett Square, Oxford, and West Grove. The area s population of 153,693 is projected to grow by 3.2% by 2020, in keeping with population growth in Chester County overall. This is the fastest growing area in Pennsylvania across the entire Philadelphia Metropolitan Statistical Area, second only to adjacent New Castle County which experienced 3.3% growth between 2010 and 2015. Average household income within the study area is $126,000, projected to grow to $143,000 by 2020. Nearly 60% of the population is working age (between the ages of 20 and 64). The median age is expected to go down in the coming years, with the 25-34 and 35-44 year old segments growing to make up 23% of the population by 2020. Recent ACS estimates place the median home value at $348,000. Southern Chester County office market The study area contains approximately 6,000,000 square feet of office space. Total vacancy across the study area has declined steadily in recent years, from an already-low 10.1% in early 2013 to its current rate of 7.3%. With suburban vacancy in the Pennsylvania suburbs hovering close to 15%, it s clear that southern Chester County is among the most constrained and most competitive of the regional submarkets, outperforming even the broader West Chester area which saw 9.1% vacancy in Q1 2016. The supply side has remained constrained in recent years, with only two deliveries since 2010 totaling just under 65,000 square feet of space. Absorption has been largely positive in recent years, with only two quarters posting net negative absorption since 2013. The limited amount of new construction and the large quantity of aging and outdated inventory have helped keep rents below the area average. Overall gross rents sit around $22 psf, with very little variation in recent years.
AREA OVERVIEW Greater Philadelphia The Greater Philadelphia area, the nation s fourth largest metropolitan area and second largest region on the east coast, is situated in the heart of the northeast corridor and is the keystone of major north-south, east-west highway and rail networks. More than 100 million people are within a one day drive of Philadelphia. Philadelphia boasts strong economic fundamentals. The strength and desirability of Greater Philadelphia is characterized by its economic diversity and population density. Its location, high concentration of educational medical, and government facilities, and a strong transportation network underscore these strengths. Residents of the Philadelphia Area have always enjoyed a quality of life ranked among the highest in the country. In addition to the numerous and growing number of high quality urban housing opportunities, there are abundant desirable suburban communities that are easily accessible by one of the country s best highway and mass transit systems.
BUILDING INTERIOR PROPERTY DESCRIPTION 105 Vineyard Way is currently occupied and fit out for medical users. The second floor is currently set up for a single medical user, with a dedicated reception area. The space houses multiple exam rooms with plumbing throughout, large offices with expansive windows and oversized nurses station. The two-story main lobby offers access to the first floor multitenanted suites as well as common restrooms and the elevator. Insert building lobby photo
Transaction Guidelines: Jones Lang LaSalle is presenting Jenners Village Professional Building to select investors and users. The sale is being offered on an as-is basis. We encourage you to inspect Jenners Village Professional Building prior to submitting an offer. Transaction Advisors: Cindy Fleming Associate Broker +1 302.356.2866 Cindy.Fleming@am.jll.com Jamie V. Vari Senior Associate +1 302.356.2862 Jamie.Vari@am.jll.com JLL Jones Lang LaSalle 222 Delaware Avenue Suite 1610 Wilmington, DE 19801 O + 1 302.356.2858 www.jll.com/philadelphia This brochure is provided for the sole purpose of allowing a potential purchaser to evaluate whether there is interest in proceeding with further discussions regarding a possible purchase of the subject property. The potential purchaser shall rely solely on their investigation and examination and not on this brochure or any materials, statements or information contained herein or otherwise provided.