NEWS

Commercial real estate professional brings 27 years of experience   Mechanicsburg, PA (May 4, 2022) – Lee & Associates of Eastern Pennsylvania, a fully-integrated commercial real estate brokerage and management firm, today announced the strategic hiring of Mark Christine as Senior Portfolio Manager for the group’s Asset Services team. Mr. Christine will be based out of the firm’s Mechanicsburg office and will focus on growing the Asset Services platform in Central Pennsylvania and Northern Maryland….

The Philadelphia Regional Industrial Market booked 10.8 MSF of net absorption for Q1’22, more than twice the level recorded in Q4’21. The surge in leasing activity offset 9.2 MSF in new construction deliveries and had the effect of reducing marketwide vacancy to a new record low level of 1.96%. Active construction fell slightly to 46.7 MSF as a number of project starts were pushed back due to supply chain issues delaying the delivery of building…

Forward Sale of a Premier Infill Location.   Lancaster, PA, April 22, 2022 – The Capital Markets group, headed by Bob Yoshimura and Joe Hill from Lee & Associates of Eastern Pennsylvania (“LAEP”), orchestrated the sale of a newly developed 251,250 square foot industrial building located at 701 Stony Battery Road, Lancaster, PA. This facility encompasses the highest quality of modern industrial design featuring 36′ clear ceiling heights, 49 loading docks, and ample parking capacity….

  Pennsylvania – March 2022 – – Lee & Associates of Eastern Pennsylvania, a fully-integrated commercial real estate brokerage and management firm, announces the sale of approximately 17 acres to a private investment firm. Principal Tony Rod, SIOR, and Associate Andrew Landolfi represented the buyer in the transaction. The property offers proximity to the region’s major roadways and provides convenient access throughout the Greater Philadelphia area, New Jersey, New York, and Baltimore. Rod and Landolfi…

  The Philadelphia Regional Industrial Market experienced 4.1 MSF of net absorption for Q4’21 as the market settled into structurally-low vacancy rates. Year-end total net absorption was a record-breaking 41.2 MSF, which combined with delayed construction schedules, contributed to historic-low vacancy rates. Vacancy dropped by 40 bps over the course of Q4’21; for CY 2021 vacancy was down by 423 bps. Over 33 MSF of new construction deliveries are projected for the first half of…

  Pennsylvania – February 4, 2022 – – Lee & Associates of Eastern Pennsylvania, a fully-integrated commercial real estate brokerage and management firm, has announced Selwyn Simpson II as the newest associate of the Industrial brokerage team. Selwyn joins Lee & Associates from Lafayette College. In his new role, his primary focus will be agent leasing, tenant representation, and land acquisition in the key submarkets across Pennsylvania, most notably the Lehigh Valley, Northeast, PA, and…

  Pennsylvania – January 25, 2022 – Lee & Associates, a leader in commercial real estate services throughout North America, appoints Pennsylvania broker to its national Board of Directors. Brian Knowles, CCIM, SIOR, will be one of nine members to serve the company in 2022-2023. The Board works hand-in-hand with the CEO and corporate team to initiate, execute, and maintain policies that best serve the company and its clients. The 30-year industry veteran said, “he…

January 24, 2022 Pennsylvania—Lee & Associates, a national full-service commercial real estate firm has orchestrated the sale of approximately 166 acres to international developer and owner, PNK Group. Principals; John Van Buskirk, SIOR, and Bill Shrader represented Union County in their fourth deal since taking on the listing. The deal will potentially add the park’s first speculative building in hopes of attracting a tenant in need of turn-key space. Following receipt of entitlements, PNK will…

  January 20, 2022 Pennsylvania—Lee & Associates, a national full-service commercial real estate firm has orchestrated the lease of approximately 350,000 square feet to complete the full lease-up of the property located at 101 Commerce Drive in Mechanicsburg, PA. Principals; Ed Skonecki, Joel Kreider, SIOR, and the team represented the property owner, an affiliate of New York Life Insurance Company, in the deal. The building was recently improved with new lighting, paint, and HVAC, an…