The World of Commercial Real Estate According to @BCCommercial: March 2010

BASF recently awarded the Brandywine Conservancy with the Project Habitat Award at the Waterloo Mills Preserve. This recognition is awarded for Quality Vegetation Management (QVM) by land owners and various land projects.

In 2006, an invasive weed management application was initiated by the Brandywine Conservancy in an effort to re-establish and protect our native habitat in our beautiful Chester County region. This is a significant award for environmental management, the Brandywine Conservancy being only 1 of 13 recipients.

Waterloo Mills is a privately donated 170 acre property where members of the Conservancy can enjoy the preserved open spaces, featuring meadows full of wildflowers, wooded area, a historic village, native wildlife and the peace-bringing Darby creek navigating its way through the midst. The preserve has been made available for educational institutions as well from elementary to collegiate levels.

We are proud to reside in a local community that takes responsible actions to preserve and protect our native environment. The Brandywine Conservancy continues to serve Chester County well, expanding their programs consistently with success.

For more information regarding the Waterloo Mills Preserve or membership to the Brandywine Conservancy, visit: The Brandywine Conservancy Website. You will find their site extremely informative and educational, with various articles published by Penn State University. Visit the "Contribution" tab to donate to this worthy cause, access the "Web Library" section to research specific subject matters or visit the Calendar of Events page to plan your visit for the new  N.C. Wyeth Exhibit running until mid-May, 2010.

I recently received a flyer in the mail from our State Representative Tom Houghton. One specific article stood out to me regarding possible legislation that would "remove obstacles for homeowners seeking alternative energy options".  It is understood by all during these challenging economic times that costs are rising across the board. Many Pennsylvania residents have been faced with a layoff situation and experienced decreased income as a result.

Speaking from personal experience, I know first-hand the challenges that families face in these circumstances. It's all about the budget - the newly modified, trimmed budget. Fuel costs are an increasing concern for homeowners. As the expiration of electric generation rate caps looms and our nation's dependence on foreign oil add to these concerns, GREEN options are being seriously considered.

We're seeing this "trend" become an increasing reality, even in Chester County. For example, Pennsylvania Sunshine emerges, a provision added to Governor Rendell's Alternative Energy Investment Act, allowing $100M in grants for qualifying commercial and residential solar projects. In February of 2010, "One Block Off The Grid" proposes a "group purchasing campaign".

Representative Houghton recognizes the obvious need for options, thus the birth of House Bill 2234. This legislation would provide PA residents with the ability to choose the method in which they power their home while maintaining respect to their respective homeowners associations. There are legitimate reasons for these associations and they demand attention, so as to avoid liabilities, unsafe conditions, etc.

It will be a delicate balancing act - respecting the HOA's yet not allowing "blanket denials" of solar energy projects. I know that this concept has quite a bit of legwork to do before successful implementation, but I am encouraged at this step in an empowering direction.

As a Chester County Real Estate Brokerage, we make it a priority to be conversant with current issues and legislation that will affect our clientele, such as Alternate Energy Options. We consider it part of our obligation to our client to keep them informed, so that they can make wise decisions regarding their own properties as well as their property investments.

I've read several articles this week regarding the Commercial Real Estate Market and the overall economic status here in the US. In an article from the Associated Press published six days ago, despite the weather challenges this past month, "slow improvements are expected". However, the NAR chief economist, Lawrence Yun, stated that "due to the lingering impact from deep recession over the past two years, vacancy rates will trend higher and many commercial property owners will need to make rent concessions." Read the full statement here:

(http://www.realtor.org/press_room/news_releases/2010/02/commercial_recovery) As we attempt to re-assemble our "house of economic cards", we must keep in mind that we will probably see a turnaround closer to the 2011, due to several factors including the job market still stuck in first gear. According to the Daily Local News for the Philly area (http://www.dailylocal.com/articles/2010/03/02/business/doc4b8cfc438ea9d161074817.txt) office vacancies reached 11.5 for 4th Qtr 2009, while the national average graced 13.2 percent. (Data provided by CoStar). Retail vacancies reached 7.9 percent in Chester County and rates have significantly decreased. Optimum retail space and Class A Office Space have become more "accessible" by all because of this. If you are looking for office or retail space for your company, please take a moment to browse our listings at: http://www.beilercampbellcommercial.com/properties