Monthly Economic Outlook -- June 2013 (Video)

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Big Box Retail's New Strategy (Video)

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Epicor Leases 43,000 SF at Horizon Corp Ctr

Epicor, an enterprise resource planning and business software company, signed a 12-year lease for 42,940 square feet in the office building at 3800 Horizon Blvd. in Feasterville Trevose, PA.

Constructed in 2009, the five-story building totals 214,700 square feet in the Horizon Corporate Center office park and was awarded LEED Silver Certification in 2010 by the U.S. Green Building Council (USGBC).

Epicor's lease includes the entire second floor, and move in is currently scheduled for November 2013.
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BreadPartners Signs Long Term Lease in Cinnaminson

BreadPartners, Inc. will relocate from its Westhampton location to occupy the entire 50,000-square-foot industrial build ing at 2800 Cindel Dr. in Cinnaminson, NJ.

The building was constructed in 1998 on 7.8 acres in the Cindel Business Park, convenient to major highways and transportation routes. It features eight loading docks, one drive-in bay and 30-foot clear heights.
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Hartz Mountain Sells 250,000-SF Investment in Secaucus

Gaia Real Estate Holdings LLC, along with equity partners Phoenix Insurance and Menora Mivtachim Insurance, has closed on its acquisition of Atrium 2 in the Harmon Meadow business park, located at 200 Plaza Dr. in Secaucus, NJ, from Hartz Mountain Industries, Inc.

The four-story, 249,863-square-foot office building was constructed in 1984 on three acres in the Meadowlands submarket of Hudson County, part of the 4.4 million-square-foot, mixed-use Harmon Meadow, which provides access to more than one million square feet of retail, restaurants, a hotel, a 14-screen movie theater, and an LA Fitness club. The building was renovated in 2008 with new base building systems, lobby, and renovated facade. It features more than 1,200 covered parking spaces, an atrium, and attached skywalk.

The LEED-certified asset is fully leased to Ernst & Young, a global assurance, tax, transaction and advisory services firm, for its regional headquarters and global training facility. The site is just six miles from the firm's world headquarters at 5 Times Square in New York City.

"This acquisition reflects Gaia’s strategy to buy office buildings in the first ring around New York City," noted Gaia Managing Partners Amir Yerushalmi and Danny Fishman in a release. "The building allows NYC-headquartered companies to have a workforce close to the city with much lower costs."

"The 200 Plaza Drive acquisition provides Gaia with a well located and quality corporate headquarters office building with excellent amenities and access to Midtown Manhattan. Gaia should do well with this new high-quality investment."
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REITs Roar on Rising Rates: Pro (Video)

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Select Top Three Philadelphia Retail Leases Signed in Q1 2013

The select top retail lease signed during the first quarter of 2013 in the Philadelphia market was at 1309 Blue Valley Dr. in the Lehigh Northampton submarket. Lehigh Hospital signed a lease for 50,000 square feet there. 

EZ Bargain signed a 25,000-square-foot lease renewal at 5212 Market St. in West Philadelphia. Walnut Street Equities represented the landlord in a direct deal. 

Office Max leased 24,300 square feet at Union Square Shopping Center in the Harrisburg Area East submarket. LMS Commercial Real Estate represented the landlord in this direct deal. 

This trend is compared to the U.S. National Retail largest lease signings occurring in 2013, which include the 170,838-square-foot lease signed by Sam’s Club at Mansfield Town Center in the Dallas/Ft. Worth market; the 164,290-square-foot renewal signed by Dillard’s at Orlando Fashion Square in the Orlando market; and the 145,000-square-foot lease signed by Bass Pro Shops at Almaden Ranch in the South Bay/San Jose market. 
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