U.S. and South Jersey Industrial Space Absorption Likely To Rise in Fourth Quarter

south-jersey-industrial-spaceAfter relatively flat demand for U.S. and South Jersey industrial space in the first nine months of 2014, absorption of industrial space in South Jersey and elsewhere in the nation is anticipated to rise in the last quarter of 2014 as developers deliver an estimated 50 million square feet of new warehouse and light industrial space to the market, according to a new report.

The stagnated demand for U.S. and Southern New Jersey industrial space in the first three quarters surprisingly included demand for warehouse space, which usually ticks up quarterly, but was consistent but unchanged in 2014, according to the analysis in the CoStar Third Quarter Industrial Real Estate Review and Outlook.

Tenants had virtually no new industrial space in Southern New Jersey or the nation to move into because of the low vacancy rate, the report said.  The dozens of new industrial buildings that will deliver to the U.S. and Southern New Jersey industrial space market by December 31 encompass both properties built to suit and those built on spec, CoStar said.

The report also noted that logistics construction was increasing, with an estimated 100 million square feet of logistics under development throughout the nation.  More developers were willing to build on spec because rising rents and demand justified the construction in most markets.  More than half of the ongoing logistics construction has no signed sales or lease agreements in place.  One estimate put the current level of construction at 30% below the market’s potential.

With rents rising at a higher rate than replacement costs, developers were spurred on to build to meet increasing demand for industrial space in South Jersey and the U.S.  The U.S. vacancy rate declined to 6.9%, CoStar said, lower than it was at this point last year, and rents reached to within about 0.8% of their long-term trend.

Rents rose 3.4% over the third quarter 2013 in both the logistics and light manufacturing sectors of the market for industrial space in Southern New Jersey and the U.S., a very strong performance that nonetheless had notable differences between higher quality and less functional space, according to the report.

For more information about South Jersey industrial space or any South Jersey commercial properties, please contact Lee Fein (215-799-6900-office; 215-206-5580-cell; lee.fein@wolfcre.com) at Wolf Commercial Real Estate, a premier South Jersey commercial real estate brokerage firm with expertise in Southern New Jersey commercial real estate listings and services.

Wolf Commercial Real Estate is a South Jersey commercial real estate broker that provides a full range of Southern New Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a South Jersey commercial real estate broker that specializes in Southern New Jersey commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new industrial space in South Jersey with the South Jersey commercial properties that best meets their needs.  As experts in Southern New Jersey commercial real estate listings and services, the team at our South Jersey commercial real estate brokerage firm provides ongoing detailed information about South Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for industrial space in Southern New Jersey for sale or lease, Wolf Commercial Real Estate is the South Jersey commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for available Southern New Jersey industrial space, as well as a full listing of South Jersey and South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

South Jersey Industrial Space for Lease in Sewell NJ

11 Enterprise CourtWolf Commercial Real Estate, a premier South Jersey commercial real estate broker that specializes in Southern New Jersey commercial real estate listings and services, is now offering  South Jersey industrial space for lease at 11 Enterprise Court Sewell NJ.

This South Jersey industrial and flex building for lease offers approximately 1,380-5,380 square feet of South Jersey office space for lease.  This Southern New Jersey industrial space for lease also features approximately 3,800-8,030 square feet of South Jersey warehouse space for lease.

The asking lease price for this industrial and flex space in South Jersey at 11 Enterprise Court Sewell NJ is $16.50/sf (office), full service, and $6.50/sf (warehouse), full service.  This South Jersey industrial and flex space for lease is available for immediate occupancy through Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm that specializes in Southern New Jersey commercial real estate listings and services.

The South Jersey office space for lease within this South Jersey industrial and flex building for lease at 11 Enterprise Court Sewell NJ has seven offices and a large conference and training room.  This South Jersey office space for lease is fully furnished, full-service office space.  If needed, there is a receptionist in place at this Sewell industrial space for lease.

The South Jersey warehouse space for lease within this South Jersey industrial and flex building for lease has a ceiling height of 20 feet.  There are two drive-in doors and one loading dock at this South Jersey warehouse space for lease.

There is both pylon and directory signage available at this Sewell industrial space for lease through Wolf Commercial Real Estate, a South Jersey commercial real estate broker that specializes in Southern New Jersey commercial real estate listings and services.  This Southern New Jersey industrial space for lease at 11 Enterprise Court Sewell NJ offers ample parking.  More than 19,000 cars per day pass through the intersection of Delsea Drive and Emerald Lane near the entrance to this South Jersey industrial space for lease.

Located off heavily traveled Route 47, this South Jersey industrial and flex space for lease is just minutes away from Route 55, the Atlantic City Expressway and I-295.  This industrial and flex space in South Jersey is in close proximity to Rowan University, Five Points Shopping Center, Cooper Family Medicine and Kennedy University Hospital.

More than 168,000 people live within a five-mile radius of this Southern New Jersey industrial space for lease at 11 Enterprise Court Sewell NJ and more than 62,000 households are located within five miles of this Sewell industrial space for lease. The average household income in the same five-mile radius from this industrial and flex space in South Jersey is nearly $88,000.

For more information about this South Jersey industrial space for lease at 11 Enterprise Court Sewell NJ or about any other South Jersey industrial and flex space for lease or South Jersey commercial properties for sale or lease, please contact Christopher Henderson (856-857-6337; chris.henderson@wolfcre.com) or Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate is a premier South Jersey commercial real estate broker that provides a full range of Southern New Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through the team at our South Jersey commercial real estate brokerage firm.

Premier South Jersey Industrial Space For Lease in Mount Laurel

15000 Commerce ParkwayWolf Commercial Real Estate, the foremost South Jersey commercial real estate brokerage firm that specializes in Southern New Jersey commercial real estate listings and services, is now offering premier South Jersey industrial space for lease in the Greentree North Corporate Center at 15000 Commerce Parkway Mount Laurel NJ.

There is 31,000 square feet of divisible industrial space in South Jersey at this single-story South Jersey industrial and flex building for lease.  This South Jersey industrial and flex space for lease at 15000 Commerce Parkway Mount Laurel NJ is well suited for a multitude of office, industrial or flex uses.

This Southern New Jersey industrial space for lease is locally owned and managed.  This industrial and flex space in South Jersey in the Greentree North Corporate Center at 15000 Commerce Parkway Mount Laurel NJ is well located in a professional office park that offers many amenities attractive to tenants and potential employees.  There also are numerous amenities in the area surrounding the Greentree North Corporate Center, where this Southern New Jersey industrial and flex space for lease is located.

The asking lease price for this industrial space in South Jersey is available by contacting Wolf Commercial Real Estate, a South Jersey commercial real estate broker with expertise in Southern New Jersey commercial real estate listings and services.

The Greentree North Corporate Center where this South Jersey industrial and flex space for lease is located has an on-site daycare center and recreational amenities on the office park grounds.  This Southern New Jersey industrial space for lease also is near many hotels, restaurants, retailers and banks.  The major shopping centers within close proximity to this Southern New Jersey industrial and flex space for lease include the Greentree Square Shopping Center and the Moorestown Mall.

This South Jersey industrial and flex building for lease at 15000 Commerce Parkway Mount Laurel NJ is situated right off busy Route 73.  This location affords easy access from this industrial and flex space in South Jersey to Route 70, I-295 and the New Jersey Turnpike.  In addition, this South Jersey industrial space for lease is just minutes from several major bridges to Philadelphia, including the Tacony-Palmyra Bridge, the Betsy Ross Bridge and the Benjamin Franklin Bridge.

This industrial space in South Jersey in the Greentree North Corporate Center offers tenants both monument and tenant suite signage.  This Southern New Jersey industrial space for lease is available for immediate occupancy through Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm that specializes in Southern New Jersey commercial real estate listings and services.

More than 46,000 vehicles per day drive through the entrance to this Southern New Jersey industrial and flex space for lease at the intersection of Route 73 and Lincoln Drive.

Parking at this South Jersey industrial and flex building for lease at 15000 Commerce Parkway Mount Laurel NJ is plentiful with a ratio of 4.5/1,000 sf.  There are more than 180,000 people residing within a five-mile radius of this South Jersey industrial and flex space for lease  The average household income is $105,426 in the same area where this industrial and flex space in South Jersey is located.

For more information about this South Jersey industrial space for lease in the Greentree North Corporate Center at 11000 Commerce Parkway Mount Laurel NJ or about any other South Jersey commercial properties for sale or lease, please contact Christina Del Duca (856-857-6304; christina.delduca@wolfcre.com) or Todd Levin (856-857-6319; todd.levin@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate is the leading South Jersey commercial real estate broker that provides a full range of Southern New Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our website for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

South Jersey Industrial Space for Sale or Lease in West Berlin NJ

110 Cushman AvenueWolf Commercial Real Estate, a leading Southern New Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services, now has available well-located South Jersey industrial space for sale or lease at 110 Cushman Avenue West Berlin NJ.

This South Jersey industrial building for sale or lease features approximately 35,500 square feet of South Jersey industrial and flex space for sale or lease for multiple uses.  This Southern New Jersey industrial space for sale presents an excellent opportunity for an owner occupant or for an investor.

There is 18,562 square feet of South Jersey warehouse space for sale or lease at this industrial space in South Jersey.  Another 8,006 square feet of this South Jersey industrial space for sale or lease is ideal for use as a showroom.  This South Jersey industrial building for sale or lease also features approximately 8,932 square feet of South Jersey office space for sale or lease.

The asking sale price for this South Jersey industrial and flex space for sale or lease at 110 Cushman Avenue West Berlin NJ is $2,650,000.  The asking lease price for this industrial space in South Jersey is $9.00/sf NNN.  This Southern New Jersey industrial space for sale or lease is available for immediate occupancy through Wolf Commercial Real Estate, a Southern New Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services.

Recent capital improvements have been made to the exterior of this South Jersey industrial space for sale or lease and South Jersey office space for sale or lease.  This South Jersey industrial and flex space for sale at 110 Cushman Avenue West Berlin NJ features four drive-ins and 18-foot-high ceilings.  HVAC covers approximately 16,000 square feet of this industrial space in South Jersey.  There are 25 parking spaces at this South Jersey industrial building for sale or lease.

This Southern New Jersey industrial space for sale or lease is zoned C-3 RGA ZONE (Regional Commercial Growth Zone).  There is facade signage available at this South Jersey industrial building for sale or lease through Wolf Commercial Real Estate, a Southern New Jersey commercial real estate brokerage firm that has extensive expertise in South Jersey commercial real estate listings and services.

This South Jersey warehouse space for sale or lease is situated on approximately eight acres just off heavily traveled Route 73.  There is easy access to Route 30, the Atlantic City Expressway and Cooper Road from this South Jersey office space for sale or lease.  This South Jersey warehouse space for sale or lease is located in close proximity to many local retail shops and restaurants, as well as the Virtual Voorhees regional medical center.

More than 101,000 people live within five miles of this South Jersey industrial and flex space for sale at 110 Cushman Avenue West Berlin NJ.  The average household income in the same five-mile radius is nearly $90,000.  An average of more than 30,000 vehicle per day pass by this Southern New Jersey industrial space for sale or lease.

For more information about this South Jersey industrial space for sale lease at 110 Cushman Avenue West Berlin NJ or about any other South Jersey commercial properties for sale or lease, please contact Christopher Henderson (856-857-6337; chris.henderson@wolfcre.com) or Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) at Wolf Commercial Real Estate, a Southern New Jersey commercial real estate broker.

Wolf Commercial Real Estate is a premier Southern New Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through the team at our Southern New Jersey commercial real estate brokerage firm.

South Jersey Industrial Space for Lease in Mount Laurel NJ

6000 Commerce ParkwayWolf Commercial Real Estate, a premier South Jersey commercial real estate brokerage firm that specializes in Southern New Jersey commercial real estate listings and services, is now offering prime South Jersey industrial space for lease at 6000 Commerce Parkway Mount Laurel NJ.

Located in the Greentree North Corporate Center, this South Jersey industrial building for lease is ideal for use as industrial, office, warehouse or flex space.  There is 6,000 square feet of South Jersey industrial and flex space for lease in the first unit available at this South Jersey industrial building for lease.  The second unit has 24,000 square feet of South Jersey office and flex space for lease.

The asking price for this Southern New Jersey industrial space for lease is available upon request from Wolf Commercial Real Estate, a South Jersey commercial real estate broker that specializes in Southern New Jersey commercial real estate listings and services.

This South Jersey industrial space for lease in the Greentree North Corporate Center at 6000 Commerce Parkway Mount Laurel NJ is located just off well-traveled Route 73.  This South Jersey industrial and flex space for lease is conveniently near a multitude of hotels, restaurants, retailers, bank and shopping centers, including the Greentree Square Shopping Center and the Moorestown Mall.

This Southern New Jersey industrial space for lease is locally owned and managed.  The Greentree North Corporate Center where this South Jersey office and flex space for lease is located features an on-site day care center.  This South Jersey industrial building for lease is available for immediate occupancy through Wolf Commercial Real Estate, a South Jersey commercial real estate broker that specializes in Southern New Jersey commercial real estate listings and services.

There is direct access to Route 73 from this South Jersey office and flex space for lease at 6000 Commerce Parkway Mount Laurel NJ and Interstate 295 and the New Jersey Turnpike are just a few minutes away.  The Tacony-Palmyra Bridge, Betsy Ross Bridge and Ben Franklin Bridge all provide easy access to Philadelphia from this South Jersey industrial and flex space for lease.   Parking is abundant at this South Jersey industrial space for lease at a ratio of 4/5/1,000 sf.

For more information about this Southern New Jersey industrial space for lease in the Greentree North Corporate Center at 6000 Commerce Parkway Mount Laurel NJ or about any other South Jersey commercial properties for sale or lease, please contact Christina Del Duca (856-857-6304; christina.delduca@wolfcre.com) or Todd Levin (856-857-6319; todd.levin@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate is a leading South Jersey commercial real estate broker that provides a full range of Southern New Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through the team at our South Jersey commercial real estate brokerage firm.

South Jersey Industrial Space For Lease In Mount Laurel NJ

2000 Crawford PlaceWolf Commercial Real Estate, a premier Southern New Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services, now has available prime South Jersey industrial space for lease in the Horizon Corporate Center at 2000 Crawford Place Mount Laurel NJ.

This industrial space in South Jersey has plus or minus 9,390 square feet of contiguous South Jersey flex space for lease in two units.  Suite 400 of this Southern New Jersey industrial space for lease provides 3,000 square feet of South Jersey office/flex space for lease, while Suite 500 offers 6,390 square feet of South Jersey industrial space for lease.

The asking lease price for this South Jersey flex space for lease at 2000 Crawford Place Mount Laurel NJ is $6.00 per square foot NNN.  This South Jersey office/flex space for lease is available for immediate occupancy through Wolf Commercial Real Estate, a Southern New Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services.

The Horizon Corporate Center, where this Southern New Jersey industrial space for lease is located, is a beautifully landscaped corporate office park that is near many hotels, restaurants, retailers and banks.

Locally owned and managed, this South Jersey flex space for lease in the Horizon Corporate Center at 2000 Crawford Place Mount Laurel NJ has a new exterior facade.  Parking is plentiful at this industrial space in South Jersey at a ratio of 4/1,000 sf.

This South Jersey industrial space for lease is situated along the Route 73 corridor.  This excellent location provides convenient access from this South Jersey office/flex space for lease to Route 73, 70 and 38, as well as to I-295 and the New Jersey Turnpike.

An average of more than 51,500 vehicles per day pass by the intersection of Route 73 and Horizon Way at the entrance to this industrial space in South Jersey.

Nearly 192,000 people reside within a five-mile radius of this South Jersey flex space for lease from Wolf Commercial Real Estate, a Southern New Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services.

For more information about this Southern New Jersey industrial space for lease in the Horizon Corporate Center at 2000 Crawford Place Mount Laurel NJ, or about any other South Jersey commercial properties for sale or lease, please contact Christina Del Duca (856-857-6304; christina.delduca@wolfcre.com) or Leor Hemo (856-857-6302; leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, a Southern New Jersey commercial real estate broker.

Wolf Commercial Real Estate is a leading Southern New Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our Southern New Jersey commercial real estate brokerage firm.

South Jersey Industrial Space For Lease At 6000 Commerce Parkway Mount Laurel NJ

6000 Commerce ParkwayWolf Commercial Real Estate, a leading Southern New Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services, now has available well-located South Jersey industrial space for lease in the Greentree North Corporate Center at 6000 Commerce Parkway Mount Laurel NJ.

There are two units of South Jersey office and flex space for lease available in this South Jersey industrial building for lease.  One unit offers 6,000 square feet of South Jersey office and flex space for lease and the second unit offers 24,000 square feet of South Jersey office and flex space for lease.  This Southern New Jersey industrial space for lease at 6000 Commerce Parkway Mount Laurel NJ can be used for office space, industrial space, warehouse space or a combination.  Details on the asking price for this South Jersey industrial building for lease are available upon request to Wolf Commercial Real Estate, a Southern New Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services.

This South Jersey industrial space for lease in the Greentree North Corporate Center at 6000 Commerce Parkway Mount Laurel NJ is locally owned and managed.  There is an on-site day care center at this South Jersey office and flex space for lease.

The Greentree North Corporate Center where this Southern New Jersey industrial space for lease is located has direct access to Route 73 and easy access to Interstate 295 and the New Jersey Turnpike.  The closest bridges to this South Jersey industrial building for lease are the Tacony-Palmyra Bridge and the Betsy Ross Bridge.

At a ratio of 4/5/1,000 sf, there is ample parking at this Southern New Jersey industrial space for lease.  This South Jersey industrial space for lease is available for immediate occupancy through Wolf Commercial Real Estate, a Southern New Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services.

This South Jersey industrial building for lease at 6000 Commerce Parkway Mount Laurel NJ is in close proximity to hotels, restaurants, retailers, bank and shopping centers, including Greentree Square Shopping Center and the Moorestown Mall.

For more information about this South Jersey industrial space for lease in the Greentree North Corporate Center at 6000 Commerce Parkway Mount Laurel NJ or about any other South Jersey commercial properties for sale or lease, please contact Christina Del Duca (856-857-6304; christina.delduca@wolfcre.com) or Todd Levin (856-857-6319; todd.levin@wolfcre.com) at Wolf Commercial Real Estate, a Southern New Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate is a premier Southern New Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through the team at our Southern New Jersey commercial real estate brokerage firm.

South Jersey Industrial Space For Sale Or Lease In Runnemede NJ

801 Clements Bridge RoadWolf Commercial Real Estate, a leading South Jersey commercial real estate brokerage firm that specializes in Southern New Jersey commercial real estate listings and services, now has available well-located South Jersey industrial space for sale or lease at 801 E Clements Bridge Road Runnemede NJ.

This South Jersey flex building for sale or lease has plus or minus 25,000 square feet of industrial space in South Jersey.  This South Jersey office space/flex space for sale or lease or lease sits on 1.77 acres of land.

The asking sale price for this industrial space in South Jersey is $825,000 ($33.00/sf).  The asking lease price for this South Jersey flex building for sale or lease at 801 E Clements Bridge Road Runnemede NJ is $4.50 per square foot NNN.  This Southern New Jersey industrial space for sale or lease is available for immediate occupancy through Wolf Commercial Real Estate, a South Jersey commercial real estate broker that specializes in Southern New Jersey commercial real estate listings and services.

There is 22,160 square feet of industrial space and 1,840 square feet of office space in this South Jersey office space/flex space for sale or lease.  The ceiling height in this Southern New Jersey industrial space for sale or lease is 15 feet.  This South Jersey flex building for sale or lease features two loading docks and one drive-in.  The lot at this South Jersey industrial space for sale or lease is fenced in and there are 25 surface parking spaces available.  Nearly 14,500 cars per day pass by the intersection of E Clements Bridge Road and E 2nd Street near this industrial space in South Jersey.

This South Jersey office space/flex space for sale or lease at 801 E Clements Bridge Road Runnemede NJ is being offered by Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm that specializes in Southern New Jersey commercial real estate listings and services.

This industrial space in South Jersey is directly across from a New Jersey Transit bus stop and next to a large retail shopping center that is anchored by Dollar General.  This Southern New Jersey industrial space for sale or lease is conveniently located near the entrances to both I-295 and the New Jersey Turnpike, providing easy access to points north and south.

More than 276,000 people live within a five-mile radius of this South Jersey office space/flex space for sale or lease at 801 E Clements Bridge Road Runnemede NJ.  The average household income for residents within five miles of this South Jersey flex building for sale or lease is $78,370.

For more information about this South Jersey industrial space for sale or lease at 801 E Clements Bridge Road Runnemede NJ, or about any other South Jersey commercial properties for sale or lease, please contact Todd Levin (856-857-6319; todd.levin@wolfcre.com) or Christopher Henderson (856-857-6337; chris.henderson@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate broker.

Wolf Commercial Real Estate is a premier South Jersey commercial real estate broker that provides a full range of Southern New Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

WCRE First Quarter Report: Heavy Snow Did Not Dampen First Quarter Commercial Real Estate Activity In Southern New Jersey

south-jersey-industrial-spaceApril 7, 2014 – Marlton, NJ – The second snowiest winter on record couldn’t stop the enthusiasm in the regional commercial real estate markets, according to the latest quarterly report by Wolf Commercial Real Estate (WCRE). Driven by job gains and growth in some industries, the region bounced back from the slight slow-down of the fourth quarter, posting a 26 percent increase in square feet leased compared with the first quarter of last year.

The report by the Southern New Jersey firm noted many positive trends during the first quarter, setting up for a solid 2014. “This year we’ve seen vacancy rates continue their slow, steady declines, unemployment in New Jersey heading in the right direction, and locally we have seen big shifts by some of the largest corporate players,” said Jason Wolf, founder and principal of WCRE. “A few national trends and headlines, such as declining unemployment nationwide, a cooling of international tensions, and expected increases in consumer confidence, are fueling the increased activity we’ve seen in our region.”

Even with historic severe weather, the CRE market was very busy during first quarter, with further stabilization of rents, the consummation of a mega-deal for a 24-building office/flex portfolio, and another large group of assets coming onto the market. There were approximately 397,141 square feet of new leases and renewals executed in the three counties surveyed. Notably, expansions and new deals remained strong this quarter, representing 54 percent of all transactions. Net absorption for the quarter was approximately 123,746 sf, a 20-point increase over the fourth quarter of 2013.

The report noted that many of the quarter’s subject properties were located in prime 3M locations within Burlington County, and that the tightening of those areas was causing demand to shift toward large vacancies in Camden County.

The two most noteworthy developments in the quarterly report were the closing of Liberty Property Trust’s (NYSE: LRY) disposition of its entire office/flex portfolio in the region, and Brandywine Realty Trust’s (NYSE: BDN) listing a portion of its area portfolio for sale. The Liberty Property Trust portfolio, comprising 1,188,285 square feet in 24 buildings, was purchased by Somerset Properties. Brandywine has listed five office buildings totaling 397,000 square feet.

Other office market highlights from the report:

— Burlington County continued to maintain a significantly lower vacancy rate than Camden County, at 9.6 percent compared with Camden’s 19.3 percent, though both counties saw decreases of more than a point this quarter.

— Average rents for Class A & B product continue to show strong support in the range of $11.00-$14.00/sf NNN or $21.00-$24.00/sf gross, with an overall market average showing strong support in the $11.00-$11.50/sf NNN or $21.00-$21.50/sf gross for the deals completed during the first quarter. This is essentially unchanged from the previous quarter.

— New lease activity for Q1 is in the range of approximately 215,910 square feet of new deals and/or expansions and approximately 181,231 square feet of renewals, for a total of approximately 397,141 square feet of leasing activity.

— All of the major private owners and REITS showed a significant increase in prospect activity for the quarter, and are all cautiously optimistic for 2014.

— Businesses that specialize in banking, consulting, government, information technology and financial services all were very active in Southern New Jersey during the first quarter.

WCRE also reported on the local retail market, noting that the first quarter experienced a lull, which was driven in part by the weather and in part by a weak holiday shopping season. Highlights from the retail section of the report include:

— Overall retail vacancy in the tri-county area is hovering around 15.2%, up several points from a fourth quarter marked by disappointing retail sales figures.

— Class A retail product rental rates continue to show strong support in the range of $30.00-$40.00/sf NNN, which is essentially unchanged from the previous several quarters.

— Class B product shows support in the range of $15.00-$25.00/sf NNN.

The full report is available upon request.

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, industrial and investment properties in Southern New Jersey and the Philadelphia region. We provide a complete range of real estate services to commercial property owners, companies, banks, commercial loan servicers, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. Through our intensive focus on our clients’ business goals, our commitment to the community, and our highly personal approach to client service, WCRE is creating a new culture and a higher standard. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Learn more about WCRE online at www.wolfcre.com, on Twitter @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.comwww.southjerseyretailspace.com, and www.southjerseymedicalspace.com.

Wolf Commercial Real Estate Named Exclusive Leasing Agent For Premier South Jersey Industrial Space

12000 Commerce Parkway - copyright Greg BensonWolf Commercial Real Estate, a Southern New Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services, has been named exclusive leasing agent for a major portion of a portfolio of Southern New Jersey office and flex buildings acquired by Somerset Properties, including premier South Jersey industrial space, South Jersey flex space and South Jersey office space in Mount Laurel and Marlton.

The appointment expands the relationship between the two companies that began last year with Wolf Commercial Real Estate’s exclusive representation of four other buildings owned by Somerset Properties. This new appointment gives Wolf Commercial Real Estate leasing responsibilities for an additional 13 Southern New Jersey office and flex buildings totaling 584,028 square feet of Southern New Jersey industrial space, Southern New Jersey office space and Southern New Jersey flex space for lease. The new portfolio expands Somerset’s presence in the Southern New Jersey commercial real estate market to 1,500,000 square feet.

Wolf Commercial Real Estate (WCRE), a Southern New Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services, will represent nine South Jersey office and flex buildings for lease in the Greentree North Corporate Center in Mount Laurel, while the remaining four buildings are in the Marlton Crossing Office Park in Marlton.

15000 Commerce Parkway“Somerset Properties is a very community-focused and entrepreneurial operator, and their expansion is setting a bullish tone for our market,” said Jason Wolf, principal of Wolf Commercial Real Estate. “We see endless possibility in the properties they have entrusted to WCRE, and we are excited to connect new tenants to that vision.”

“The WCRE team has developed a unique and very effective marketing platform, and we are excited to expand our strategic partnership” said Jennifer Wierman, director of leasing at Somerset Properties, a full-service real estate company that focuses on development, investment and property management. Somerset Properties owns and manages 5.2 million square feet of office, industrial and flex space in four U.S. regions.

Greentree North Corporate Center

The single-story Southern New Jersey office and flex space for lease in the Greentree North Corporate Center in Mount Laurel is located on Commerce Parkway. This South Jersey industrial space, South Jersey office space and South Jersey flex space for lease offers vacancies ranging from 2,000 square feet to 34,000 square feet.

This well-located Southern New Jersey office and flex space for lease has convenient direct access to the Route 73 corridor, as well as nearby access to I-295, the New Jersey Turnpike and Route 70. The Greentree North Corporate Center provides an on-site daycare center for corporate tenants. Many restaurants, retail stores, banks and hotels are located close to this South Jersey industrial space for lease, including the Greentree Square Shopping Center, East Gate Square and the Moorestown Mall.

More than 46,000 vehicles per day drive through the Route 73 and Lincoln Drive intersection at the entrance to this Southern New Jersey flex space for lease. Parking is plentiful at these South Jersey office and flex buildings for lease at a ratio of 4.5/1,000 sf. Nearly 70,000 people live within three miles of this Southern New Jersey office and flex space for lease through Wolf Commercial Real Estate, a Southern New Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services.

The Southern New Jersey office and flex buildings now being represented by Wolf Commercial Real Estate are:

— 6000 Commerce Parkway: 6,000 to 24,000 square feet of Southern New Jersey industrial space, Southern New Jersey office space, and Southern New Jersey flex space for lease

— 9000 Commerce Parkway: Fully leased

— 11000 Commerce Parkway: Fully leased

— 12000 Commerce Parkway: 34,000 square feet of divisible South Jersey flex space, South Jersey office space and South Jersey industrial space for lease

— 14000 Commerce Parkway: 2,000 to 6,000 square feet of Southern New Jersey industrial space, Southern New Jersey office space and Southern New Jersey flex space for lease

— 15000 Commerce Parkway: 6,008 to 31,000 square feet of divisible South Jersey flex space, South Jersey office space and South Jersey industrial space for lease

— 16000 Commerce Parkway: 7,463 to 9,072 square feet of contiguous South Jersey industrial space, South Jersey office space and South Jersey flex space for lease

— 17000 Commerce Parkway: Fully leased

— 18000 Commerce Parkway: Fully leased

Marlton Crossing Office Park

The four Southern New Jersey office buildings in the Marlton Crossing Office Park are located on Lippincott Drive, just off Route 73. This excellent location provides easy access to I-295, the New Jersey Turnpike and Route 70. This single-story South Jersey office space has vacancies ranging from 3,979 square feet to 14,000 square feet.

This Class A South Jersey office space features a walking/jogging path. There is a plethora of restaurants in the vicinity of this South Jersey office space for lease, including PF Changs, Pietros and The Redstone American Grill. There also are many nearby shopping centers, including The Promenade at Sagemore and the Marlton Crossing Shopping Center.

More than 52,000 vehicles per day drive through the intersection of Route 73 and Brick Road at the entrance to this South Jersey office space for lease. Parking at these South Jersey office buildings for lease is abundant at a ratio of 3.60/1,000 sf at 400 Lippincott Drive and a ratio of 4.50/1,000 sf at 406 Lippincott Drive. Close to 68,000 people live within three miles of this South Jersey office space for lease through Wolf Commercial Real Estate, a Southern New Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services.

The Southern New Jersey office buildings at the Greentree North Corporate Center are:

— 301 Lippincott Drive: Fully leased

— 303 Lippincott Drive: Fully leased

— 400 Lippincott Drive: 7,000 to 7,440 square feet of South Jersey office space for lease. This Southern New Jersey office space for lease was awarded an Energy Star level in 2012 for operating efficiency.

— 406 Lippincott Drive: 3,000 square feet, 3,979 square feet and 10,000 square feet of South Jersey office space for lease

These South Jersey office and flex buildings for lease are available for immediate occupancy through Wolf Commercial Real Estate, a Southern New Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services.

For the asking lease price of the South Jersey industrial space, South Jersey flex space and South Jersey office space in these South Jersey office and flex buildings for lease or for any other information about these or any other South Jersey commercial properties for lease or sale, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com), Leor Hemo (856-857-6302; leor.hemo@wolfcre.com) or Christina Del Duca (856-857-6304; christina.delduca@wolfcre.com) at Wolf Commercial Real Estate, a Southern New Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate is a leading Southern New Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our Southern New Jersey commercial real estate brokerage firm.