The World of Commercial Real Estate According to @BCCommercial

Care to Dance?

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Wed, 16 May 2012 10:08:54 -0700

Care to Dance?

When analyzing the current economy and market conditions, often times Commercial Real Estate and Residential Real Estate are assimilated in the reports. Although similar, they are often found dancing to different “tunes” on the same dance floor. What I mean by this is that although they are operating simultaneously in a wavering economy, they are distinct, which has allowed for the Commercial Real Estate industry to “creatively” overcome and seek sustenance in other ways that the housing market does not provide. Some examples of those new dance steps are:

REIT Running Man:

REIT’s are pushing for rent increases on multi-units, due to apartment and housing turnover trends at record lows due to inability to acquire mortgages. Public REIT’s are said to be paying yields in the 3.5% range. If you shift to the private sector, you can expect somewhere in the 8’s. Commercial Real Estate can also be considered an inflation hedge.

Buy or Build Butterfly:

Large Developers are focusing on new construction retail projects while some remain conservative favoring property acquisitions. When considering an acquisition, take a careful look beyond the cash flow. What will the rent income be when the current leases terminate? Novice investors miss this all of the time. Commercial Real Estate as a whole is driven by jobs, particularly the office and industrial sector. Consumer spending drives retail. Although the multi-unit industry has made remarkable improvement, we see a need to shrink the chasm between new construction costs and trending rental rates.

Land Limbo:

Buying land in the current market can be sketchy at best. Land with approvals, availability of utilities and located within the “right market”…it’s like trying to find a customized car with all of your wish list features off the lot of the used car dealer. Before jumping in with both feet, most investors are considering several items of interest when performing their due diligence:

Demand – What is the demand for the project?

Dinero – What will my ROI be and how far out can I expect my rate of return?

Domination – What bureaucratic hullabaloo will I have to endure to gain the “blessing” to execute this project and how long will it take to come to fruition? Also, will you be able to sell the property when you are ready to? What will it take?

The Lean,..oh I mean GREEN wit it, Rock wit it:

As an owner/investor, green solutions can potentially provide tenant attraction and maximize your property value. Applying Green initiatives to your current property can influence negotiations, improve operations and sustainability, boost tenancy and rent rates, improve the property to optimize sales price and attract “green” buyers.

But Everyone Else is Doing It...

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Thu, 03 May 2012 14:15:20 -0700

I know you can hear it. Your mother's tension in her vocal chords as she blurts "Just because everyone else is doing it doesn't mean you have to do it. If they all were going to jump off a bridge, would you jump too?"

In Commercial Real Estate, there are certain things that make sense, certain things that work when it comes to marketing your brokerage or your listings. The challenging question running through your mind is, "How do I know what works and what doesn't?"

I cannot answer that question for you with 100% conviction and completeness. However, what I can do is give my opinion and state the facts as well and allow you come to a conclusion.

Commercial Real Estate's traditional model was the handshake and warm chatter. Presentation, professionalism and preparedness are key in this method of marketing. Guess what? They STILL are, and it STILL works! Most deals continue to come to fruition through this method. Humans dig conversation, and most, if they were being honest themselves, would tell you that they feel they can evaluate someone's integrity better face to face.

There's an app for that: As technology has evolved, so have our methods in the Commercial Real Estate industry. We emerged as branded identities when we migrating from only MLS listings to our own websites. We proceeded to then post our listings on the ever-growing list of listing sites. Next, we skeptically dipped our toes into the shallow end of the Twitter pool and did the shoulder dip into the Facebook community and some of us got our hair wet on Active Rain.

I am not a skeptic, but I am a careful "evaluator". I want what I'm doing to MAKE SENSE. One of my pet peeves is wasting time. So if a listing website caters in only a certain region and my market area isn't anywhere near it, it isn't worth my time. If a networking group isn't active and thriving with conducive conversation and informative posts, don't sign me up.

Recently I read an article regarding Pinterest. The author was giving an example of how a consulting firm decided to utilize Pinterest to promote themselves. I don't know if you have visited the site, but I will give my humble, yet somewhat painfully blunt opinion. If I want to be taken seriously in this business, I will never have a business Pinterest account. This is for the same reason that you don't accept friend requests from your relatives on your business Facebook. It just wouldn't make sense, and in some cases, dependent on your family tree, it may be very detrimental to your career. I feel that Pinterest is a very "female-targeted" website allowing individuals to "Pin" what they like, thus inevitably promoting those "likes". It seems appropriate if you want to advertise your "Like List" publicly on the internet. Most include their favorite recipes, blogs, photos, quirky quotes and some even pin must-have clothing and shoes. It's a very "personal" platform. I'm going back to the "if it doesn't make sense" part of our conversation now. If I am in #CRE, then I need to be running in the same circles as what most #CRE runs in. If the majority of the site doesn't apply to my industry, I'm sorry, you've lost my interest. I'm going to go back to tweeting with Duke Long and J.W. Najarian and posting my wants and haves on The Broker List (courtesy of my friend Linda Day Harrison, founder).

The bottom line and ultimate "point" of this #CRE rant is...just because all the cool kids are doing it, just because it's the next greatest thing since flakes, or just because the ads say we should, doesn't necessarily mean we should buy in. Oh, and by all means, don't forsake the traditional model and sacrifice it on the altar of the latest and the greatest either. You must have a balanced marketing model that is all inclusive in this industry. Your "virtual" presence can only get you so far.

The State of the State - Pennsylvania that is...

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Thu, 05 Apr 2012 12:46:40 -0700

As Governor Corbett conveyed his #1 priority being JOBS during his recent speech on Wednesday, April 4, 2012 in Chambersburg, he spoke regarding budget and the governments responsibility in living within their means. He recently traveled to Germany and France talking over business opportunities. There is increasing international business interest in Franklin and Adams counties specifically. Singing the praises of Pennsylvania he noted that we are the second largest energy force in the world due to our wind, solar and water power resources. Coal and natural gas are the core of PA's energy sources.

Our Governor will have a prize fight on his hands, however, with the current administration's new environmental regulations which have hit those industries, particularly in our state, very hard. It has becoming increasingly essential that Pennsylvania establish a standard for energy conveyancy. Disputes continue in the Pennsylvania Supreme Court regarding natural gas rights.

These uprisings have caused quite a stir and more questions than answers when it comes to the sale of land where these resources "reside". The "Dunham Rule" basically provides that when there is a transfer of deed (where there are natural gas, fossil fuels present) the gas or oil must be specifically mentioned in the deed documentation. This is a Pennsylvania specific ruling/dispute. Each state has their own regulations and legislation regarding this issue. The outcome of these lawsuits will definitely determine a long-term course of action for PA land owners and their families. The precedence set forth has the potential to impact the industry as a whole. According to research by Penn State University, the Marcellus Shale drilling has a potential to bring TWENTY BILLION dollars to Pennsylvania's economy by the year 2020.

Highway Commercial/Retail Land for Sale

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Mon, 26 Mar 2012 12:41:27 -0700

HIGHWAY COMMERCIAL/RETAIL PROPERTY FOR SALE

Ideal Commercial Development location - Great visibility, signage capability - adjacent to off-ramp to Rt 796 from US Route 1 North. Four acres of prime opportunity zoned C-2. Taxes/YR: 1439/2011. Assessment: 49270. Directly across from new retail development proposed by Beiler-Campbell Commercial Realty.

Traffic Counts: 13K+
Off-Ramp Accessibility
MLS #: 5858859
- MLS Area: 10358
- Penn Twp
- County: Chester
- Tax ID #: 58-04 -0231
- School Dist: Avon Grove
- Acres: 4.00
- Land SqFt: 174,240
- RE Taxes/Yr: 1439 / 2011
- Assessment: 49270
- Land Use: V10
- Zoning: C2
Contact us at (610) 444-7770 for more details and pricing for this fantastic Commercial/Retail opportunity!

Professional Office Space for Lease - West Grove, Chester County, PA

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Tue, 13 Mar 2012 09:44:31 -0700

Jennersville Rd (206B N)

Property Type: Office Location:206B N Jennersville Rd
West Grove, PA 19390
Show Location on Google Maps 2235 SF of fully-furnished professional office space conveniently located just off US Route 1 and PA 796. Private lot parking in front and rear of building. Common entrance. Data feeds and phone lines in place. Close to retail and restaurant. Professional neutral finishes. Currently has 10 - 12 workstation areas. Access to shared kitchen facilities. In-Suite restroom facilities. Zoning: C2 Monthly Price: $2887 Yearly Price: $34643 Public Water/Public Sewer, Energy Efficient Gas Heat, Central Air. High Traffic Counts. Building plan on file. Price: $15.50SF/YR/NNN Listing Agent:Bill Camp (610) 444-7770 x142

Multiple Options Available - Retail/Development/Investment Opportunity

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Wed, 22 Feb 2012 09:51:25 -0800

6+ acres of prime commercial land for sale in Southern Chester County along the PA 41 corridor. Here are the details:

HC Zoning
Approved Retail Site Plan
Property for Sale as an investment/development opportunity
or...retail units for lease starting at 1,600sf in-line or 4,500sf pad for lease - NNN Leasing
Highway Exposure
Traffic Counts 18,000+
Great Signage Visibility
Taxes/Year: $6,802/2011
Assessment: $223,420

Call us today at (610) 444-7770 to discuss this exciting opportunity for an investor or a retailer/retail broker. We look forward to speaking with you.

The Affect of Social Media on the Real Estate Industry

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Tue, 07 Feb 2012 11:47:00 -0800

We have yet to realize the true effect that Social Media continues to have on the Real Estate Industry as a whole. Social Media is the "in thing", the "now", what's "hot". We are so intrigued with all of the buzz surrounding it that we willingly welcome it's companionship along the many avenues that it can take us. However, without due diligence and true understanding of what it is and it's potential effect, you are headed out on a blind date with no Plan B, my friend.

It is essential that we gain an understanding on how Social Media affects our Industry and each of us as Real Estate Professionals. Realize that Social Media is affected by what is going on around the globe. Deals are made and broken through Social Media.

Social Media is all about "sharing"...at least that is what Facebook and Twitter claim. But it is so much more. I would like to explore how Social Media itself is affected by the activity going on around the world. Global turmoil and crisis sincerely affects Social Media. Because of these disturbances, the scrutinizing observation of Social Media activity has become modus operandi. Everyone from goverment agencies to the Forbes 500 have their fingers on the pulse of their company...the VIRTUAL pulse. With that being said, Investors around the world are utilizing these "tools" to glean the public opinion of industry leaders and even their brands. These companies are now paying people to "be their listening ear" and find out both the good and the bad that is being posted over the Internet highways. This causes a new priority to emerge for business, especially medium to large corporations. As the old saying goes, reputation is everything. Just as an entourage of body guards surrounds that famous pop idol as they enter a venue, this new generation of "risk managers" defend and counteract on behalf of these organizations.

I know, now you say, "Beth Anne, how does this really affect Real Estate/Commercial Real Estate? What does this mean to me?" I'd like to give you a very "close to home" example. I was looking up a REALTOR via a Google search yesterday because I wasn't sure what brokerage they were with. Most likely, unbeknown to this person, there was an extremely defamatory review (bashing) on a social website regarding this person. Then it hit me. Real Estate Brokerages and Individual Agents that are listed in Internet directories or that are marketed all over the Internet as in Beiler-Campbell Commercial's case, need to be especially diligent in DEFINING themselves. Now I will take a moment to clarify. Definition means equal to (=) so it needs to be the truth. Cut the embellishments. The average surfer does not want to know how many babies you've kissed. Leave the lather in the soap dish. They want to know your track record, your core values, whether your know your stuff. I can ask you three questions and know whether or not you know this industry and more specifically, your local market climate. Every man and woman can make themselves out to be the best of the best virtually. There is a diva and a Don Juan born everyday on Facebook. Companies can project their organizations as the moguls of Real Estate/Commercial Real Estate. Guess what? We can see through the smoke and mirrors. When you claim to be an expert in every arena, I don't believe you. I personally can not be Master of the CRE Universe, nor do I claim to be. I want clientele to know what we are truly capable of - what we can DELIVER on. Because if we CAN'T, guess what they're going to post on our Facebook, Twitter, etc?

Truth in advertising is essential when we're talking Real Estate. They don't have ethics committees in place just to check to see how you are doing with your business and provide an opportunity for you to get out of the office. So, "how does Social Media affect me?" If it hasn't had an effect on you yet, you aren't using it properly. The type of effect it has on you is determined by YOU Mr. Broker or Mrs. Agent. Social Media is an "all or nothing" sport. If you put your foot in the water, you can't just wade around in the shallow and expect anything good to come of it. It's all in, and then you must maintain your reputation just as you maintain your appearance every single day. Your web appearance is just as important as your well-groomed hair and your stylish professional attire. It isn't something that you sign up for and walk away from. If there isn't much activity surrounding you, one will assume that you're not stirring up much activity in the real estate market. Don't utilize your accounts to brag about yourself, monotonously post your properties available, or let everyone know about how badly your barista screwed up your cappuccino this morning. I'm not saying that you cannot be personal with any of your posts. On the contrary, you need to personally engage because it is the internet and people need to know what makes you tick, where you stand on things, etc. That should be your interactions though. The majority of your posts should provide VALUE. You become the SOURCE for real estate/commercial real estate information in your service arena. Connect with people in your area through searches and hash-tag searches. Connect with colleagues in real estate/CRE to network. Truth AND engagement brings results.

Sewer Expansion Impending for Oxford Area

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Fri, 09 Dec 2011 17:37:16 -0800

With long awaited expectancy, the PA Department of Environmental Protection has finally approved Oxford Area Sewer Authority's Act 537 Plan. This is a timely development, now that both the Shoppes of Lower Oxford and the WalMart SuperCenter construction is well underway. Commercial and Residential development has been at a standstill since around 2004. The expansion will be conducted in several phases. The first phase will include a 39.4 million gallon storage lagoon. Phase two will increase the capacity of the system to 770,000 gallons per day. The final phase will include a mechanical treatment plant, further increasing volume and capability. The USDA is providing the fund source for the loan for this project to the tune of $27 million. At the completion of this project, it is expected that the system will sustain growth for a twenty year period.

Beiler-Campbell Commercial's own Shoppes of Lower Oxford will be one of the beneficiaries of the expansion. The 12,000SF free-standing retail center is nearing completion. There is 3,900SF still available for lease in that building. Two pad sites will be developed in addition to this, creating an inviting neighborhood retail location with easy on easy off accessibility to the Route 1 corridor.

2012: BE the Gamechanger

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Fri, 18 Nov 2011 10:23:40 -0800

2011 is rapidly coming to a close as we prepare to open the book of history to be known as “2012” and embark on a new season of Commercial Real Estate. At this time of year we typically take personal inventory and make assessments in order to make improvements for the coming year, or at the very least resolve to do so.

The Commercial Real Estate world is so ever-changing because it is relational to so many various factors, a “dependency” we can do little about. I go back to something I heard repeatedly throughout my childhood, “Do something about what you CAN do something about”. Albeit grass-roots simplified, it holds tremendous truth in its essence. We can watch the market change day to day, track the wavering price per square foot, read the myriad of opinions regarding the state of “our union” (i.e. CRE) or….

You can dive deep into Lake U and perform an examination of strengths, weaknesses, business practices, communication protocol, leadership ability, character and purpose. Everything that we do in this business should provide value. If you are not taking ownership of your life in CRE, you will become just another complaining prodigy who broke the rose colored glasses that you entrusted for your motivation and enthusiasm. Discern you purpose. Set clear goals. Be precise and realistic. Plan each day and leave room for the incidentals. In this day and age, you have so many resources for up-to-the-minute information, market data and industry insight. It’s time to focus on what you bring personally that makes all those things coalesce into a successful Commercial Real Estate Services provider. The professional that is passionate about all things CRE will draw much more than those who choose only to expectorate data at their client in order to impress. Steadily improve your skills. Learn the new software. Be mobile (if you haven’t already). There are some tremendous CRE-related mobile apps for your tablet. Whether you are a broker/agent, retail broker, site-selection consultant, there is application that will improve your game. Learn a new language. Use Social Media to its full benefit to promote yourself.

Now the don’ts: Don’t sign up for everything. EVERYONE claims to be the Grand Poobah of whatever they do…that’s marketing at its best. Not every website or real estate service is going to have VALUE for you. You have to determine this for yourself. Research those companies, perform FREE demos when available, try before you buy. Poll your colleagues in this industry and find out what they find useful. Find out how many hits that website gets per month. Check their ratings. As a Commercial REALTOR you have become expert in due diligence. Practice it regarding your business. You can expend so much viable energy adding yourself to every directory and CRE or RE website out there with very little results. Let’s go back to the rule of thumb: What is the Value? What is the ROI? Then make your educated decision.

Finally, be the “GO-TO” guy or gal in your area. Dominate your market by becoming THE source for accurate information and advice and enjoy yourself while doing it. You may not be the biggest player on the field, but with agility and speed you can catch success at the goal line if you continuously determine to improve YOU. The crazy dance you do in the end zone…well that’s up to you my friend.

The Importance of Demographics in Real Estate

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Fri, 21 Oct 2011 16:21:04 -0700

How important are demographics in the scheme of REAL ESTATE? Huge my friend...huge. Demographic trends determine the destiny of real estate, the economy and even politics to some extent. They drive the machine.

As the first batch of "Baby Boomers" now reach age 65, the face of the US Population is changing rapidly. Also, primarily due to economic conditions, they remain part of the active workforce. In 2018, for at least a quarter of the US population, retirement will not be an option according to labor stats. Most of these folks already own homes, so the few that are looking to rent will focus on the bottom line more than options.

We 80's babies are working hard, living on a budget, trying to put our kids through college and making payments. We're exploring the world of refinancing and tax re-assessment, looking for ways to trim expense.

The "Millennials" are becoming the dominating powerhouses in the apartment rentals arena. Mortgage requirements stiffened like a well-starched collar in the last few years, making it more challenging for this group to "achieve the American dream" of home ownership. While the majority of this assemblage are not sitting in executive offices, they are highly influential as to where commercial real estate trends will traverse in the next ten years or so. They are the mavens and aficionados of technology and social media, and will most likely seek out positions within companies that have similar modus operandi...companies continuously being birthed from new inventive technology.

So, how do we reach this diverse assortment? How do you know what to market to whom? What marketing avenues are right for what genre? Well, you could drive yourself crazy as a REALTOR trying to "microtarget" the plethera of prospects. However, there are some general rules that will work, negotiating the diversified expanse.

Be the GO-TO person: What I mean by this is be the REALTOR that everyone knows and goes to for information because you know your stuff. You are well-aquainted with your service area and current market conditions.

You have the REP: You have built a reputation because you shoot straight from the hip with your clientele. You don't cave in when you know that it will never sell at that price. You are both knowledgable and realistic - a GREAT combination that brings success.

You know how to dance to more than one tune: Flexibility and adaptability in your methods of marketing your properties has always been key. Your versatility must be the constant....does that make sense? As the world spirals all different directions of growth and movement around you, you remain free to adjust where needed for a particular situation or circumstance.

Your ears still work: Remember when your mom and dad told you that listening was so important? Well, they're STILL correct about that. Listening to a client is probably the most important thing that you can do as a REALTOR. It shows that personal service is still on your essentials list. It puts them at a priority level in your eyes. Put down the phone, the i-pad, the laptop and take off the bluetooth and be attentive. It will make all of the difference.

Beiler-Campbell Commercial has been serving the business community of the Greater Delaware Valley community for over 35 years. We have well-established relationships locally, regionally and nationally in order to provide our clients with the best service possible. Locally managed, we care about the communities we serve. We have built a reputation for solid work ethic, attention to detail and top-notch service to our clients...every time...every transaction.

Kennett Square Properties - For Sale and/or For Lease

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Wed, 12 Oct 2011 15:42:35 -0700

The fall chill may be in the air, but Beiler-Campbell Commercial has some hot Kennett Square properties available immediately. Let's take a virtual stroll through Historic Kennett Square and see what all the buzz is about...

First Stop - Our Place - The Beiler-Cambpell Business Center II

We currently have 7,500 SF available in the 500 building and 15,000 SF available in the last remaining building in the center.

New Construction
Class A Office Space
Convenient to Philadelphia, Delaware, Lancaster County and Northern MD
High-Visibility Signage
High Traffic Count
Fit-Out Options Available
NNN Lease

Second Stop - 123 E State Street

1,693 SF of Retail Space available

Great Visibility
Display Windows
Great Walking Traffic
Public Parking in Rear

Third Stop - 210 Gale Lane

1,760 SF of Office Space Available and 1,240 SF of Flex Space Available

Ample Parking
Established Business Park
Private Entrance
Second Floor Space
6 Private Offices
Storage
Cat 5 Cabling
Modified Gross Lease

Fourth Stop - 548 Rosedale Road

21.3 Acres of R4 Zoned Land - allows for Higher Density Housing Development - Call Today for Details!!

Taxes/Yr: $9892/2010
Assessment: $349,310
Parcel ID#62-04-0216

Fifth Stop - 625 E Cypress Street

1,379 SF of Retail Space available for lease in existing Community Retail Center

Great Visibility
NNN Lease
Ample Parking
High-Traffic Center

Last Stop - 413 W Cypress Street

1,645 SF of Office Space available for lease in existing Multi-Use

Great Visibility
Ample Parking
ADA Compliant Access
Reception Area
Kitchenette
Conference Area
6 Private Offices

Call Beiler-Campbell Commercial regarding these exciting opportunities and more at (610) 444-7770.

9/11 Remembered

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Fri, 09 Sep 2011 12:49:25 -0700

In this day and age of minute to minute updates and changes, our "fast paced" lives are practically on "hyper-speed". I wanted to take a moment to remember lest we forget.

Ten years is a long time in light of events taking place, but the disaster and tragedy of 9/11 should always have a designated place in our memory banks, honoring the heroes, remembering those precious lives lost and keeping the meaning of the evil plot executed against our nation that day in the back of our minds, dare we grow pacifistic or become numb. Our country was formed upon a constitution which our forefathers wisely and carefully crafted which insures the basic freedoms that we enjoy everyday.

I am proud of our "One Nation Under God" and Sunday will prayerfully remember the families and the survivors that live with that vivid memory each day, those first responders: the firefighters, the emergency responders, the policemen, the every American that heroically assisted and/or sacrificed themselves for the sake of human life and our Armed Forces and their families who proudly serve our country and fight for our continued freedom each and every day. We honor you all this day and always.

Life Is Precious

Life is so precious
And each day a gift
So enjoy every minute
As it were you last to live

Cherish your loved ones
Hug them tight
Share with them your heart
And your time

Nothing is forever
And life goes so fast
Each minute that passes
Is one you can’t get back

When troubles arrive
And knock you off your feet
Stand up and smile
And remember life is too sweet

Every morning when you wake,
Decide right from the start,
That “Today will be a good day”
And let it all in with an open heart

Written by Laura Strickland

Office Space for Lease - Historic Commercial Building - Chester County

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Thu, 18 Aug 2011 15:53:04 -0700

The Former Chatham Hotel features many updates to its historic charm. Converted into Professional Office Space, the two floors feature private entrances for each level, allowing divisibility to 2,088 SF. 15-20 Car Parking Lot on-site. This is a charming office space with great visibility for your business.

4176SF Total
Traffic Count: 20-29K AADT (Courtesy of PASDA 2011)
All Utilities on site
Highway Exposure
Employee/Client Parking
Wood Floors
Incandescent Lighting
NNN Lease
3% Escalator
1.9 Acre Site
Historic Surroundings - Age: 231
$12.01/SF/YR

Call Bill Camp regarding this opportunity and to schedule a tour at (610) 444-7770.

The Big Box Effect

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Tue, 09 Aug 2011 09:23:05 -0700

Patience is a virtue they always say. In this scenario, patience had escaped us and most of the community was in disbelief and had conceded that the ever promised Super Walmart Shopping Center would never become a reality. For all of the doubting Thomas types, seeing is believing.

The Wolfson Verrichia Group (developer of Main Street at Exton) has executed the site work and the in-line and free standing buildings have begun to take shape. In addition to the Super Walmart, the following retailers will be joining the party:

Sleepy's
Frankford Cleaners
Panda Buffet
Bravo Pizza
Gamestop
Snap Fitness
Fulton Bank
Verizon
Citadel Federal Credit Union
McDonald's
AutoZone

Originally it was WVG's intention to place a Lowe's in the 175,000 SF Phase II portion, however Lowe's will not be coming to this location, so that space will become multiple in-line shops. The WalMart SuperCenter is scheduled to be open in the spring of 2012, a 24/7 operation.

With this development, various improvements to the existing route 10 are expected, as the center will require acceleration and deceleration lanes, etc.

What will the impact be for Southern Chester County? Primarily, it will add $500K per year into the Oxford School District's budget via taxes. Of course, new jobs will be created. But what kind of impact will this have on the Commercial/Retail real estate industry in this area of Chester County?

Here are some possibilities to ponder:

With the addition of a "big box" store of any kind, the impact on small business can be detrimental and the local community will have to determine to "bolster" and support those mom and pop shops that have served them well for years.
Also, when the "big box" comes in, gets established there is increasing possibility for other National Retailers taking vested interest in the area
The Draw: On average people will drive 20-25 minutes to do their regular shopping - new clientele for the Oxford Area, feeding other businesses in that location
Possibility of increased interest by business owners seeking new office/industrial/flex space in new growth area
Relocations and new buyers to this region of the residential real estate market due to new offerings in the area making it more appealing to call this area home

It's an exciting time to be in the Southern Chester County area and watch as the local economy gets a boost from national retail presence. Being a Commercial Brokerage we are in anticipation of the "next wave" of activity on the horizon.

Commercial Multi-Use/Multi-Unit for Sale

Beth Anne Grib (Beiler-Campbell Commercial Realtors) — Wed, 03 Aug 2011 10:35:30 -0700

Significant potential here:

This commercial property would be suited for an owner/user wanted residual rental income or for an investor intending to lease. The first floor is a spacious commercial professional office with conference room area and private offices. The second floor is a spacious residential apartment with separate entryway. Ample parking is available on-site for all tenants. Outbuilding/garage is included.

Property features include:

Traffic Counts: 19,083 AADT courtesy of PASDA 2011

Located on Pennsylvania Avenue (PA 41) - Great visibility

Outdoor Signage

ADA compliant accessibility to 1st floor office

Available immediately

Public Water/Sewer

Taxes: $10967/2011

Building 10,252 SF Total

0.28 Acres

Click Here for Photo Gallery and More Information

Listing Agents:

Bill Camp

(610) 357-0681

Andy Crawford

(610) 299-0500