NAI Keystone Commercial and Industrial, LLC releases November 2009 Newsletter

NAI Keystone’s Bryan Cole and John Buccinno publisher of The Greater Reading Commercial & Industrial Real Estate Newsletter publish Novembers edition.  NAI Keystone representing a large market share of commercial and industrial real estate in berks county.  For more information please contact Bryan E. Cole or John Buccinno of NAI Keystone at 610 370 8502 ; bcole@naikeystone.com or www.Bryanecole.com

 

Newsletter Link is – http://www.docstoc.com/docs/14561859/NAI-Keystone—Bryan-Cole-Novembers-Greater-Reading-Commercial-Real-Estate-Newsletter

 

Temple Plaza

NAI Keystone’s Bryan Cole and John Buccinno are named exclusive leasing reps for Temple Plaza.  The site is a retail strip center located along busy route 422/5th street hwy.  The site is ideally suited for retail or office users.  High traffic volumes, and visibility make this site a prime facility.  For more information contact Bryan Cole or John Buccinno at 610 370 8502 ; bcole@naikeystone.com; or www.Bryanecole.com

MaidenCreek Towne Center

NAI Keystone’s Bryan Cole and John Buccinno are named exclusive leasing brokers for the MaidenCreek Towne Center in Blandon PA.  The retail/office site is located along Park Road and is owned by Larken Associates.  The site is ideal for office and retail users alike, with over 25,000 sq. ft. for lease which is divisable to 2,500 sf.  For More Information contact Bryan Cole or John Buccinno at Bcole@naikeystone.com; 610 370 8502 or www.bryanecole.com.

Sale of REO Property in Douglassville

NAI Keystone’s Bryan Cole and John Buccinno handled the sale of 1.6 Acre lot in Douglassville.  The site was taken back by the bank as part of a bankruptcy.  NAI Keystone was given the assignment by the Bank to dispose of the property.  NAI had the property under contract within 3 months of listing the site, and sold the property at a competitive number while getting a quick and favorable deal for the bank with a raw piece of dirt.  The site was owned by Park Avenue Funding in New York which is a subsidiary of The Lightstone Group.

The Commercial Real Estate Industry: From Boom to Bust

Newsweek published a fascinating treatise on how the commercial real estate industry soared to the heights of 2006-2007 and fell to the lows of today. Using Boston’s Hancock Tower as a backdrop, the reporter takes you on an investor’s search for success, the challenges faced with the demise of Lehman Brothers, and where they stand today.

You can read the full article here.

 

Bryan Cole, www.Bryanecole.com ; Bcole@naikesytone.com

NAI Arranges 1.22 Million SF Distribution Center Lease for Sherwin-Williams

NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, today announced NAI member firms in Dallas and St. Louis combined to represent The Sherwin-Williams Company in the renewal and extension of its largest leased facility, a 1,221,000-square-foot regional distribution center in Effingham, IL. The transaction is likely to be one of the largest industrial transactions completed in 2009.

 

President of Corporate Services at NAI Robert Lynn, Dallas, TX, negotiated the lease at 711 West Wabash Avenue in Effingham after an exhaustive process during which build-to-suits in several surrounding cities in Illinois and Indiana were considered. Lynn was able to secure facility improvements and economic incentives that will net Sherwin-Williams multi-million-dollar savings over the term of the lease. The transaction has an aggregate value in excess of $20 million. The three-building complex is owned by a private out of state investor.

 

According to Lynn, competition was fierce to entice Sherwin-Williams to another location as the facility employs more than 300 people. “While the company originally had a strong desire to upgrade to a new facility, we were able to leverage all of the options available in the current economic environment to give Sherwin-Williams a significantly improved facility and millions of dollars in cost savings,” Lynn stated.

 

“Although the process showed new construction was not our best option for this situation, I was impressed that NAI was able to identify several parties who could do a build-to-suit for our unique use, in a tertiary market,” said Madeline Muser Hayes, Director of Corporate Real Estate at Sherwin-Williams. “The end result was an extremely favorable lease extension and amendment.”

 

Lynn has represented Cleveland, OH-based Sherwin-Williams on more than 30 projects over the past 20 years. David Branding, Associate Broker at NAI DESCO, NAI Global’s St. Louis, MO, affiliate, assisted on the transaction. NAI Global manages a network of 325 offices and 5,000 professionals in 55 countries across the globe. NAI specializes in representing large corporations with multi-market real estate requirements and was recently rated the best performing network in the 2009 Watkins Research Group survey of corporate real estate executives.

 

For More Information – Contact Bryan Cole or NAI Keystone – Bcole@naikeystone.com or www.Bryanecole.com ; 610.370.8502

The Gateway Building

NAI Keystone’s Bryan Cole and Steve Willems are named exclusive broker representatives for the 95,000 Sq. Ft. Class A Office building in Downtown Reading.  NAI will place the property on the market for Sale or Lease.  The facility currently has 26,000 Sq. Ft. for Lease and has credit tenants such as Wachovia/Wells Fargo Bank, GSA, and various other government entities.  For more information call Bryan Cole @ 610.370.8502 or Bcole@naikeystone.com

 

www.Bryanecole.com -

Late Post – Advanced H20, LLC Leases Space in Hamburg PA.

NAI Keystone’s Bryan Cole handles the sale and Lease of Hamburg Industrial Plant – Formerlly the Wissahickon Bottling plant.  The plant was sold to two investors from Berks and Schuylkill County PA and the site was leased to Advanced H20, LLC for a period of 15 Years.  NAI Keystone’s Bryan Cole was the only broker involved in the lease transaction.  The sale of the building was brokered by a firm in Pittsburgh while the investment group was represented by NAI Keystone’s Bryan Cole.   

For More information contact Bryan Cole or NAI Keystone Commercial & Industrial, LLC at 610 370 8502 or Bcole@naikeystone.com — www.Bryanecole.com

Sale of Wyomissing Office Building – New Construction

NAI Keystone’s Bryan Cole handles sale of 20,000 Sq. Ft. Newly Constructed Office Building in Wyomissing.  The building was sold to a medical user who intends on operating out of the facility.  The property was sold for a shell number of $3,700,000.00 with fit-out esitmated to be above $70 – $80.00 Per Sq. Ft.  Giving a total transaction value of $5,000,000 +.  NAI Keystone was the sole broker involved in the transaction.  The site was owned by Kinsley Construction a York based firm with over 1700 employees.

For more information contact Bryan Cole or NAI Keystone at 610 370 8502 or Bcole@naikeystone.com — www.Bryanecole.com

Lease to RG Group in Sinking Spring

NAI Keystone’s Bryan Cole and John Buccinno handles 2,000 Sq. Ft. Lease to RG Group.  The space will be utilized as a retail shop for truck and farm equipment parts.  Space was leased for 5 years and located in Spring Township, Berks County PA. 

For More Information call Bryan Cole at 610 370 8502 or Bcole@naikeystone.com