Where the Best Real Estate Values Are (Video)

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PHMC Relocating to Centre Square

Public Health Management Corporation (PHMC) signed a lease totaling 120,207 square feet at Centre Square, located at 1500 Market St. in Philadelphia, PA. The tenant will be relocating in April 2014 from 260 S. Broad in Philadelphia where it currently occupies 63,000 square feet. 

PHMC will be occupying 89,072 square feet in the East Tower and 31,135 square feet in the West Tower. Centre Square is comprised of two office towers totaling 1.85 million square feet on an entire city block at 15th and Market Street in the heart of Center City. The properties feature an atrium, glass ceiling galleria and are Energy Star rated for operating efficiency. 
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Ruby Tuesdays in Bethlehem Sells for $2.7M

Ruby Tuesday, Inc. sold the 4,803-square-foot retail building at 2102 Emrick Blvd. in Bethlehem, PA to Raleigh Associates, Inc. for $2,662,000, or about $550 per square foot. 

The restaurant is fully occupied by Ruby Tuesday. The tenant is leasing back the property for 15 years on an absolute triple-net lease with 10-percent increases every five years. 
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Tory Burch Sublets 526,000 SF in South Brunswick

Tory Burch, a women’s clothing and accessories designer, signed a sublease for the entire 526,400-square-foot industrial building at 115 Interstate Blvd. in South Brunswick, NJ. 

The single-story distribution building in the Turnpike Crossing OPUS was built in 2001 and was leased by The Children’s Place in 2004. The building has an office build-out of 3 percent, and sits on 40 acres of land in the Exit 8A Industrial submarket in Middlesex County. The property has 102 loading docks with drive-in bays and 3,000-amp heavy power. 
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Cramer Recommends Investing in REITs (Video)

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King of Prussia is a hotbed of development activity

by Natalie Kostelni-Staff Writer, Philadelphia Business Journal

King of Prussia is undergoing a building boom. A dozen projects in a range of sizes are in the works along the Route 202 Corridor and other parts of Upper Merion, according to a tally by the King of Prussia District. Here’s a list of some active developments.

• Children’s Hospital of Philadelphia is constructing a 120,000-square-foot specialty care center at the Village at Valley Forge on North Gulph Road.

• CarMax Auto Super Store is building a 17,060-square-foot showroom at 181 S. Gulph Road.

• Shake Shack will open up in a converted former Wachovia bank branch at 253 Mall Blvd.

• Franklin Maps Car Wash is under construction at 333 S. Henderson Road.

• Valley Forge Shopping Center is getting a facade renovation and 165,335 square foot Target at 224 W. DeKalb Pike.

• The Container Store is building a 24,000-square-foot retail outlet in front of the Court at King of Prussia Mall.

• Super Wawa, totaling 4,800 square feet, and Chick-fil-A totaling 6,000 square feet, are being built on Route 202 between Henderson Road at Town Center Road.

• Porcelanosa is building a 7,150-square-foot showroom at Route 202 and Long Road.

• The Village Mart Laundromat, a new laundry facility, is under construction at 520 Shoemaker Road.

• An old Chili’s restaurant was razed and a new eatery will occupy the site at 739 W. DeKalb Pike.

• A Burger King was torn down for a new version of the restaurant called Wired Your Way Cafe at 568 W. DeKalb Pike.

• Courtside Square at 150 Allendale Road is undergoing facade renovations.

• Beginning next year, Simon Property Group will start a 140,000-square-foot expansion of the King of Prussia Mall.

full story: http://tinyurl.com/nsvnun2

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To buy or Rent Office Space-Which is Better?

By Jim Osgood
Business owners face an important decision when determining whether the purchase or rental of office space is best.  When making this determination, a number of things need to be taken into consideration in order to make precisely the right choice.

One of the biggest factors to consider is the amount of cash that can be put out up front. Entrepreneurs must usually put out more money in the beginning whenever they are buying office space rather than leasing it. That’s because they must generally pay for appraisals and building inspections in addition to providing a down payment. Since young businesses could be struggling to come up with operating cash, many of them elect to rent office space until they have become better established.

A disadvantage to renting rather than buying is that it is easier to develop a long-term budget when buying. That’s because monthly mortgage payments tend to stay the same over the life of the loan, whereas rental costs can increase from time to time. Rent is typically based on current changes in the market, so the amount of fluctuation in a given area should be considered carefully when choosing whether to rent or buy.

Renting gives business owners greater flexibility when it comes to moving their establishment. Those who purchase office space could find themselves being unable to relocate until they are able to sell their current building. When buying commercial property, it’s important to think about the future needs of a company. That way, business owners can make sure there is ample room for expansion at their current location so that moving the establishment later is less likely to be necessary.

Full story: http://tinyurl.com/kwwfj82
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