NAI CIR Featured in Mid-Atlantic Real Estate Journal
Sep 17th
Check out the article featuring NAI CIR in the Pennsylvania section of the Mid-Atlantic Real Estate Journal.
http://digital.turn-page.com/t/26119
NAI Global Honor NAI CIR with Eagle Award
Feb 10th
PRINCETON, NJ, February 9, 2012 – NAI CIR, headquartered in Camp Hill, Pennsylvania, was recognized by NAI Global with its Eagle Award for performance in 2011.
The Eagle Award recognizes the NAI member firm that best exemplifies the Right Stuff—a composite of leadership, capital and resources; commitment to quality; the desire and energy to grow; and sharing the NAI Global vision for excellence in commercial real estate services.
The award was presented in a ceremony on February 8th at the NAI Global 2012 Convention in Las Vegas. Based in Princeton, New Jersey, NAI Global manages a network of 5,000 professionals and 350 offices in 55 countries. NAI professionals complete over $45 billion in transactions annually.
About NAI Global
NAI Global is one of the leading commercial real estate services providers worldwide. Headquartered in Princeton, New Jersey, NAI Global manages a network of 5,000 commercial real estate professionals and 350 offices in over 55 countries, and completes over $45 billion in annual transaction volume. Since 1978, NAI Global clients have built their businesses on the power of NAI’s expanding network. NAI Global’s extensive services include corporate real estate services, brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain consulting and related advisory services. To learn more, visit www.naiglobal.com. Follow us on Twitter (@NAIGlobal) and Facebook.
NAI Global Names Justin Shoemaker of NAI CIR to Global Elite
Feb 10th
PRINCETON, NJ, February 9, 2012 – NAI Global today named Justin Shoemaker of NAI CIR in Camp Hill, Pennsylvania to the NAI Global Elite, a group comprised of the organization’s top performers and top producers. Shoemaker qualified as a Top Producer at the Silver Elite level based on production in 2011.
The award was presented in a ceremony on February 8th at the NAI Global 2012 Convention in Las Vegas. Based in Princeton, New Jersey, NAI Global manages a network of 5,000 professionals and 350 offices in 55 countries. NAI professionals complete over $45 billion in transactions annually.
Central PA Hospitality Market Grows
Sep 28th
Central PA Hospitality Market Grows………Harrisburg, York, Carlisle
Somewhat surprisingly, recent Central PA commercial land sales activity has been led by hospitality developers as the Harrisburg/Central PA hospitality industry continues to expand. Even with an existing inventory of approximately 7,250 rooms in the immediate Harrisburg market alone, hospitality industry experts are seeing opportunities throughout the region. Although there has been talk of static room nights and challenging debt on some existing projects, specific submarkets have been targeted and plans have been submitted for a number of new hospitality projects. In combination, continuing strong visitor per year numbers (estimated regionally at 6.5 million), solid, viable special event venues (i.e. – Giant Center, Farm Show Complex) and the state government presence present an attractive regional market to the hospitality industry.
In Dauphin County’s Derry and Susquehanna Townships, limited service hotel projects are either on board for approval, or prepared for submission. York County has been targeted with additional limited service projects being planned. The I – 81 corridor from Lebanon through Cumberland County continues to see ongoing hospitality interest.
As we continue to experience slow and steady market rebound, expect to see additional hospitality transactions closing in the next 6 months.
OPTIMISM…FROM LAS VEGAS…2011 NAI GlOBAL CONVENTION
Feb 14th
Robin Zellers, SIOR, Jack Shepley, SIOR, James Ross, Justin Shoemaker and Jason Sourbeer all of NAI CIR in Camp Hill, PA attended the 2011 NAI Global Conference in Las Vegas Nevada from February 8 through 11. Zellers, the 2010 NAI Global Member’s Leadership Board Chairman passed the Chairman’s gavel to Kevin Fitzgerald of NAI Southwest Florida. Zellers will remain on the Leadership Board as First Past Chairman.
Over 650 commercial real estate professionals attended the Conference. Dr. Peter Linneman, NAI Global’s Chief Economist and founder of the Wharton Real Estate Department was the featured speaker. The general consensus from both US and international firms represented was the belief that the economic recovery is well underway albeit on a slow, steady, measured pace. The recent news from Business Week that pricing on institutional investments is up 19% over last year also bolstered the optimism. NAI Councils reported that independent investment, industrial, office and retail lease activity are all experiencing steady activity with moderately increased closings across all commercial industrial sectors.
While primary markets on either coast (e.g. – New York, Washington, Los Angeles, San Francisco) are experiencing singular trophy – type Class A investment deals, it is the major and secondary markets (e.g. – Harrisburg, Philadelphia, Lexington, Salt Lake City, etc.) where steady mid market activity is driving optimism.
CENTRAL PA COMMERCIAL/INDUSTRIAL LAND SALES…… ARE CLOSING?
Dec 13th
Within the last 2 weeks, we have taken a number of Central PA vacant commercial land transactions to settlement. The sales included retail land (16 acres), commercial land (14 acres) and industrial land (2 acres and 5 acres). Purchasers included users (retail and industrial) and speculative developers/investors (commercial). While we will absolutely not claim that the land market is back to 2005 – 2007 levels, closing activity is a strong indicator of the settling of values.
Land has always been an investment requiring a stout heart. Generally, successful land investors take a very long-term view of property appreciation. They understand that the real estate market will always cycle and expect that, over time, land values will always increase. Success in this long view requires strong equity positions.
Since 2nd quarter of 2008, Central PA commercial/industrial land sales have been few and far between. Developers, users and investors are now identifying unrecognized value in some of the land on the market (i.e. – properties that are priced right)…and jumping on it. This combination of value recognition and buying confidence is good news for Central PA.
Commercial Real Estate and the Scary Stuff
Oct 26th
So, it is Halloween week and it occurred to us that, just as we shiver in anticipation of that goblin around a dark corner, commercial real estate is not immune from the fear of uncertainty. Changes in the Capital gains tax and in the FASB rules for lease expense accounting are looming on the horizon. The uncertainty is what is scary. It appears that FASB will require conformance with the practice common elsewhere in the world – carrying of all lease obligations on a balance sheet. The capital gains tax requires some legislative and executive branch action to preserve current rates.
The good news is that this stuff need not be scary. Working with professionals in real estate, law and accounting, owners, buyers and lessees of commercial real estate can make informed, logical decisions based on current and anticipated market, legal and financial conditions. The market information is current and ready – NAI CIR just updated our Harrisburg Regional Commercial Real Estate Market Report.
NAI CIR Named Exclusive Listing Agent by Dauphin County General Authority for 230 acre Pennsylvania Golf course
Oct 26th
Harrisburg, PA, – NAI CIR, a leading Camp Hill, PA based commercial industrial real estate brokerage firm, has been named the exclusive listing agent for the sale of the 230 acre Dauphin Highlands Golf Course in Swatara Township. Swatara Township recently re-zoned the entire course area.
NAI CIR COO Robin Zellers and Jason Sourbeer are marketing this property on behalf of the owner, Dauphin County General Authority.
Strategically located at the Harrisburg East Exit (247) of the PA Turnpike, this links style course has been ranked with a 4 Star Rating by Golf Digest Magazine and as one of the country’s Top 100 “Must Play” Courses by Golf Link. The course averages approximately 35,000 rounds per year. While offered as an operating golf course, Dauphin Highlands offers valuable and flexible redevelopment opportunities
Swatara Township, home of Dauphin Highlands, recently enacted a new Mixed Use (MU) district zoning ordinance for the property. The new zoning classification is designed to accommodate multi- family and single family residential, office, commercial and light industrial uses.
NAI CIR is Central Pennsylvania’s oldest and largest exclusively commercial industrial real estate brokerage firm. As the Central PA member firm of NAI Global, NAI CIR provides local expertise combined with global resources.
For further info contact Robin Zellers, rzellers@naicir.com, or Jason Sourbeer, jsourbeer@naicir.com. Find us on the web at www.naicir.com. PO Box 8910, Camp Hill, PA 17001, phone – 717-761-5070.
Editors note: this announcement is not an indication of an impending purchase offer.
NAI CIR Clients Expect Trust, Loyalty and Service
Oct 26th
At a recent NAI CIR sales meeting, our professional agents described why a real estate owner, tenant, or buyer should choose them…what sets them apart from competition. Interestingly, while NAI CIR focuses a myriad of resources on our platform and professional tool kit, those were not the focus of our agents’ strengths.
NAI CIR agents focus on trust, loyalty and service. We collectively take pride in our culture of trustworthiness, loyalty and unmatched professional service. Our platform and toolkit includes a comprehensive and current property database, best practice templates, systematic marketing programs and our NAI global reach (www.naicir.com). While these tangible resources are valuable, it is important to learn that our agents recognize the real value to our clients.
We work in a highly competitive and confidential arena. This is a high risk business with high value consequences to our clients. We are fortunate to maintain strong, ongoing relationships with clients we have served for our 40 years in business. We respect their loyalty and understand our obligation to meet their requirements the right way. On occasion we will misstep and when we do, we must step back and focus on the critical factors necessary to our clients’ success…Trust…Loyalty….Service.
Harrisburg Commercial Real Estate Recovery?…it’s all about jobs…
Oct 26th
Dr. Peter Linneman, NAI Global’s Chief Economist, just issued the Summer 2010 Linneman Letter. Dr. Linneman, who will be the featured speaker at the Central Pa. Real Estate Symposium in December of this year, is renowned as one of the nation’s leading commercial real estate forecasters. Read a summary of the Linneman Letter here: http://www.naicir.com/portals/36/docs/pubdownload.pdf
For real estate recovery, Linneman says, it’s all about the economy….namely job growth. Recovery without job growth just doesn’t fill buildings. So, what can we expect here in Central PA? Over time, job growth (and job retention) in Central PA runs a bit ahead of national averages. Linneman projects steady job growth through 2013 at which time he suspects we will have balanced job losses since 2008.
For Harrisburg and Central PA, that seems to project ongoing job growth and further stabilization for the next 2 years. This means increasingly strong activity in our commercial real estate markets. Anecdotally, within the last 8 weeks at NAI CIR, we are seeing a greater number of transactions closing – both on the leasing and sales fronts. We believe the paralysis is over. Values appear to be adjusting, buyers are actively closing and tenants are moving. In Central PA, commercial real estate deals are getting done.
(Hear Dr. Linneman’s live webcast July 21, 2010 @ 1:00PM @ NAI CIR offices. Call us for a reservation @ 717-761–5070 or email: info@naicir.com
