FIRST QUARTER REPORT: BULLISH TONE STARTING TO REAPPEAR IN SOUTHERN NEW JERSEY COMMERCIAL REAL ESTATE MARKET

research information graphicWCRE Research Finds Positive Trends And Signals Of Cautious But Steady Growth

The local commercial real estate market continued its steady climb in the first quarter of 2013, free from dramatic headlines about natural disasters and government crises that marked the end of 2012, Wolf Commercial Real Estate said in its latest quarterly analysis of Southern New Jersey commercial real estate. Movement in the federal jobs and housing markets fueled consumer and investor activity locally, helping the market sustain several positive trends.

“The Dow Jones reached an all-time high, the federal and New Jersey unemployment rates fell slightly, home values and retail sales increased, and interest rates remained near historic lows,” said Jason Wolf, founder and principal of WCRE. “We saw several positive trends indicating improving growth, but we are still in a weak labor market, and more robust job growth is needed to lower the overall vacancy figures in our region.” Overall vacancy in the office market for Class A and B product is still hovering in the range of 18-19 percent, but the market has stabilized, and average rental rates continue to improve.

WCRE’s research into Southern New Jersey commercial real estate includes snapshots of the office and land markets, and details on the major deals being consummated or planned.

According to the WCRE office report, there were approximately 300,000 sf in new lease and renewals transactions in the Southern New Jersey commercial real estate market during the first quarter, with new lease transactions comprising almost 43 percent of the transactions. This is only a four percent increase from the first quarter of 2012, but Wolf said that better figures were on the horizon. “There are more than 200,000 sf of new deals and renewals awaiting signature in April alone, so we expect substantial gains in the next quarter,” he said.

Office market highlights from the Southern New Jersey commercial real estate report:

— Average rents for Class A & B product remained at or above the improved level they reached last year, continuing to show strong support in the range of $10-$14.00/sf NNN with an overall market average of $11.00/sf  NNN for the deals completed during the quarter.

— Positive absorption for the first quarter was in the range of 130,000+/-sf of new deals and/or expansions. This is a gain of 8.5 percent compared to the first quarter of 2012, which WCRE attributes to pent up demand from last year, reflecting that much of the uncertainty of the fourth quarter is behind us.

— Healthcare, computer services, insurance, defense contracting, consulting, engineering, and financial companies all were very active in Southern New Jersey during the first quarter.

— Demand for high quality investment properties is high, while supply remains low, intensifying competition for these properties.

Retail market highlights from the Southern New Jersey commercial real estate report include:

— Area retailers reported that first quarter sales figures exceeded those from the holiday shopping season of the previous quarter, an excellent sign for the economy.

— Overall retail space vacancy is still hovering in the 17-18% range, but the market has stabilized, and community and lifestyle shopping centers have very little vacancy, while neighborhood and strip shopping centers have more vacancy and less growth in rental rates.

— Average rents for upscale lifestyle centers continue to show strong support in the range of $30-$40.00/sf  NNN, and average rents for neighborhood and strip shopping centers remain in the range of $15-$23/sf  NNN.

— As with office properties, demand for high quality retail investment properties is outpacing supply, driving prices up further and CAP rates down.

The full report, including details about several key deals, is available upon request.

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, land, 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, 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.

For more information about this South Jersey commercial real estate brokerage firm or about any South Jersey commercial real estate for sale or lease, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com),, Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) or Christina Del Duca (856-857-6304; christina.delduca@wolfcre.com) at Wolf Commercial Real Estate, a leading Southern New Jersey commercial real estate brokerage firm.

As real estate brokerage and advisory experts in Southern New Jersey, the team at our South Jersey commercial real estate brokerage firm provides ongoing detailed information to our clients and prospects to help them achieve their real estate goals. At WCRE, our South Jersey commercial real estate services encompass the highest quality of service, proven expertise, and a total commitment to client-focused relationships.

Learn more about WCRE, a Southern New Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate, online at www.wolfcre.com, on Twitter @WCRE1, LinkedIn and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at: www.southjerseyofficespace.com<http://www.southjerseyofficespace.com/>, www.southjerseymedicalspace.com<http://www.southjerseymedicalspace.com/>, www.southjerseyland.com<http://www.southjerseyland.com/>, www.southjerseyretailspace.com<http://www.southjerseyretailspace.com/> and www.southjerseyindustrialspace.com<http://www.southjerseyindustrialspace.com/>.

WCRE provides a full range of South Jersey commercial real estate services, marketing commercial offices, medical properties, industrial properties, land properties and retail buildings for buyers, tenants, investors and sellers. Please visit our websites for listings of South Jersey land for lease or sale and other South Jersey commercial real estate for sale or lease or for information about South Jersey commercial real estate services for land, retail space, medical space, industrial space or land for sale or lease from this South Jersey commercial real estate brokerage firm.

Premier Approved Voorhees NJ Land Site For Sale Or Lease

WCRE (Wolf Commercial Real Estate), a South Jersey Commercial Real Estate Brokerage Firm, is offering a prime South Jersey land site for sale or lease at 1001 Laurel Oak Road in Voorhees New Jersey Camden County 08043.

This Voorhees NJ land parcel for sale or lease is part of the South Jersey Professional Center, located in the Voorhees Corporate Center. This premier approved Southern New Jersey land site for sale or lease can be purchased with the approved +/-10,000 square foot medical/professional office plans in place and/or the ownership can build to suit based on a buyer’s specific needs.

The asking price for the build-out shell of this South Jersey land site is $200.00/sf.  For pricing information on the land and approvals only at this Southern New Jersey professional/medical land for sale or lease, please contact WCRE.

This well-located South Jersey land for sale or lease offers a great opportunity to any medical or professional practice looking to expand within a prestigious professional park. Other major occupants of the Voorhees Corporate Center include Children’s Hospital of Philadelphia, Flyer’s Skate Zone, AAA of Southern New Jersey, Thomas Jefferson University Hospital, KinderCare, Hampton Inn, and Kellman Brown Academy Day School.

Nearly 211,000 people live within a five-mile radius of this Southern New Jersey land parcel for sale or lease and the median household income of those living within a five-mile radius of this Voorhees NJ professional/medical land for sale or lease is $68,599.

This Southern New Jersey land for sale or lease at 1001 Laurel Oak Road in Voorhees New Jersey Camden County 08043 is zoned for office use (O-3).  More than 22,000 vehicles per day travel on Haddonfield-Berlin Road near this South Jersey land parcel for sale or lease and there is ample parking at 5.50/1,000 sf.

WCRE’s Jason Wolf & Leor Hemo were retained to market this prime Southern New Jersey land site for sale or lease. More information and marketing brochures are available upon request.

For more information about this South Jersey professional/medical land for sale or lease at 593 Route 73 West Berlin New Jersey Camden County 08091 or about any other South Jersey commercial properties for sale or lease, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com), or Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) at Wolf Commercial Real Estate, the premier Southern New Jersey and Philadelphia region Commercial Real Estate Brokerage and Advisory firm. As real estate brokerage and advisory experts in Southern New Jersey and the Philadelphia region, the team at our New Jersey commercial real estate brokerage firm provides ongoing detailed information to our clients and prospects to help them achieve their real estate goals.

Learn more about WCRE, a Southern New Jersey Commercial Real Estate Brokerage Firm, online at www.wolfcre.com, on Twitter @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com<http://www.southjerseyofficespace.com/>, www.southjerseymedicalspace.com<http://www.southjerseymedicalspace.com/>, www.southjerseyland.com<http://www.southjerseyland.com/> and www.southjerseyretailspace.com<http://www.southjerseyretailspace.com/> and www.southjerseyindustrialspace.com<http://www.southjerseyindustrialspace.com/>.

WCRE markets Southern New Jersey and Philadelphia commercial offices, medical properties, industrial properties and retail buildings for buyers, tenants, investors and sellers in such areas as Marlton, Moorestown, Mount Laurel, Cherry Hill, Voorhees, and Pennsauken. Please visit our websites for listings of Southern New Jersey professional office space for lease or purchase and other Southern New Jersey commercial real estate for lease or purchase or for information about office space, retail space, medical space, industrial space or land for sale or lease from this Southern New Jersey Commercial Real Estate Broker.

Prime West Berlin NJ Land Site For Sale Or Lease

WCRE (Wolf Commercial Real Estate), a South Jersey Commercial Real Estate Brokerage Firm, is offering a premier South Jersey land site for sale for an asking price of $650,000 or for lease at 593 Route 73 West Berlin New Jersey Camden County 08091.

The highly visible 3.75-acre West Berlin NJ land parcel for sale or lease is located on Route 73 North, in close proximity to Sahara Sam’s, the largest indoor water park in the tri-state area, the new Virtua Hospital, and many other retail businesses and regional medical facilities.  With more than 43,000 vehicles per day passing by, this well-positioned prime Southern New Jersey land site for sale or lease offers a great development opportunity for hospitality, healthcare, retail or professional uses.

Nearly 138,000 people live within a five-mile radius of this South Jersey land parcel for sale or lease and the median household income of those living within a five-mile radius of this West Berlin NJ commercial land for lease or sale is $70,061.

This Southern New Jersey land parcel for sale or lease at 593 Route 73 West Berlin New Jersey Camden County 08091 is a previously developed site with existing utilities and site work in place.  This Southern New Jersey commercial land for sale or lease is zoned for commercial use.

WCRE’s Jason Wolf & Leor Hemo were retained to market this premier South Jersey commercial land for sale or lease. More information and marketing brochures are available upon request for this Southern New Jersey land for sale or lease.

For more information about this South Jersey land for sale or lease at 593 Route 73 West Berlin New Jersey Camden County 08091 or about any other South Jersey commercial properties for sale or lease, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com), or Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) at Wolf Commercial Real Estate, the premier Southern New Jersey and Philadelphia region Commercial Real Estate Brokerage and Advisory firm. As real estate brokerage and advisory experts in Southern New Jersey and the Philadelphia region, the team at our New Jersey commercial real estate brokerage firm provides ongoing detailed information to our clients and prospects to help them achieve their real estate goals.

Learn more about WCRE, a Southern New Jersey Commercial Real Estate Brokerage Firm, online at www.wolfcre.com, on Twitter @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com<http://www.southjerseyofficespace.com/>, www.southjerseymedicalspace.com<http://www.southjerseymedicalspace.com/>, www.southjerseyland.com<http://www.southjerseyland.com/> and www.southjerseyretailspace.com<http://www.southjerseyretailspace.com/> and www.southjerseyindustrialspace.com<http://www.southjerseyindustrialspace.com/>.

WCRE markets Southern New Jersey and Philadelphia commercial offices, medical properties, industrial properties and retail buildings for buyers, tenants, investors and sellers in such areas as Marlton, Moorestown, Mount Laurel, Cherry Hill, Voorhees, and Pennsauken. Please visit our websites for listings of Southern New Jersey professional office space for lease or purchase and other Southern New Jersey commercial real estate for lease or purchase or for information about office space, retail space, medical space, industrial space or land for sale or lease from this Southern New Jersey Commercial Real Estate Broker.

WCRE Q4 2012 Report: Neither Hurricane, Nor Election, Nor Fiscal Cliff Can Stay The South Jersey Commercial Real Estate Market From Its Slow, Steady Climb.

WCRE (Wolf Commercial Real Estate) reports that the South Jersey commercial real estate market exceeded several of its third quarter benchmarks, despite uncertainty caused by a natural disaster and other major news events.  The latest quarterly analysis from WCRE, a premier South Jersey Commercial Real Estate Broker, found that while the third quarter was marked by caution, the fourth quarter market proved its resiliency.

“Though Hurricane Sandy, the election, and the threat of the temporarily-resolved fiscal cliff exerted pressure on businesses, investors, and consumers, there were signs of accelerated growth and reasons for optimism amid the overall climate of cautiousness,” said Jason Wolf, founder and principal of WCRE.

According to WCRE, the fourth quarter showed a significant uptick in both new deal activity and expansion in the market for Southern New Jersey commercial land sites and other Southern New Jersey commercial properties. Several deals of significant size were completed, and South Jersey commercial land sites and other South Jersey commercial properties in prime locations performed better than the overall market vacancy rate. There were approximately 389,000 sf of notable Southern New Jersey commercial property deals executed in the market, a nearly 25% increase over the third quarter. This includes new lease and expansion transactions of approximately 235,000 sf.  Notably, expansions and new deals for South Jersey office space and other South Jersey commercial space outpaced lease renewals this quarter.

The report also noted that New Jersey’s unemployment rate improved to 9.6% – coming down from a 35-year-high notched during the previous quarter – and that there are many new South Jersey commercial real estate deals nearing completion. Other South Jersey commercial real estate market highlights from the report:

— Average rents for Class A & B product remained at the improved level they reached earlier this year, continuing to show strong support in the range of $11-$14.00/sf NNN with an overall market average of $11.00/sf NNN for the deals completed during the fourth quarter.

— New deals and expansion transactions of 235,000 sf for the fourth quarter were more than double the third quarter mark of 106,000 sf.

— Moorestown, Marlton and Mount Laurel (3M) continue to show strength, while a large share of the region’s vacancies remain in Voorhees, Pennsauken, and the west side of Cherry Hill. Burlington County continued to maintain a significantly lower vacancy rate than Camden County.

— Tenants continue to take advantage of low rental rates and are securing long-term lease commitments. The pattern of this flight to quality – upgrading to better locations and spaces – is expected to continue, especially among larger firms.

— All of the new major owners and REITS are showing a significant increase in deal activity and occupancy – both renewals and new deals – and are all cautiously optimistic.

Retail market highlights from the report include:

— Moorestown has issued its first ever liquor licenses, and PREIT acquired them in order to bring four new high-end restaurants to the Moorestown Mall.

— Overall South Jersey retail space vacancy is still hovering in the 17-18% range, but the market has stabilized, and prime retail locations have very little vacancy.

— Average rents for Class A retail product continue to show strong support in the range of $30-$40.00/sf NNN. Class B product shows support in the range of $15-$23/sf NNN.

— The Haddonfield Road corridor, Route 70, and Route 73 are the prime destinations for retailers.

The report also anticipated challenges in 2013, with at least 250,000 sf of additional Southern New Jersey office space and Southern New Jersey commercial space vacancies expected to return to the market as Lockheed-Martin, Catalent Pharma, and others follow through on plans to downsize. But Wolf said that even this development could be positive, because large blocks of quality South Jersey office space and other South Jersey commercial space in excess of 30,000 sf have become scarce.

The full report is available upon request.

For more information about South Jersey commercial land parcels, South Jersey office space for sale or South Jersey office space for lease, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com), or Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) at Wolf Commercial Real Estate, the premier Southern New Jersey and Philadelphia region Commercial Real Estate Brokerage and Advisory firm. As real estate brokerage and advisory experts in Southern New Jersey and the Philadelphia region, the team at our New Jersey commercial real estate brokerage firm provides ongoing detailed information to our clients and prospects to help them achieve their real estate goals.

Learn more about WCRE, a Southern New Jersey Commercial Real Estate Brokerage Firm, online at www.wolfcre.com, on Twitter @WCRE1, and on Facebook at Wolf Commercial Real Estate, LLC. Visit our blog pages at www.southjerseyofficespace.com<http://www.southjerseyofficespace.com/>, www.southjerseymedicalspace.com<http://www.southjerseymedicalspace.com/>, www.southjerseyland.com<http://www.southjerseyland.com/> and www.southjerseyretailspace.comhttp://www.southjerseyretailspace.com/.

WCRE markets Southern New Jersey and Philadelphia commercial offices, medical properties, industrial properties and retail buildings for buyers, tenants, investors and sellers in such areas as Marlton, Moorestown, Mount Laurel, Cherry Hill, Voorhees, and Pennsauken. Please visit our websites for listings of Southern New Jersey commercial land parcels for lease or purchase and other Southern New Jersey commercial real estate for lease or purchase or for information about medical space, retail space, office space or South Jersey land for sale or lease from this Southern New Jersey Commercial Real Estate Broker.

 

Wolf Commercial Real Estate – A Leader In Research And Information

WCRE (Wolf Commercial Real Estate) is an industry leader when it comes to our deep knowledge about the commercial real estate market in Southern New Jersey and the Philadelphia region. We put our resources, relationships, and technology to work for our clients, so that each decision is made with the most up-to-date understanding of market conditions.

At the core of WCRE is a team of seasoned commercial real estate experts with an excellent track record in investment sales, tenant and landlord representation and corporate real estate transactions.  We specialize in South Jersey office space, as well as in retail and industrial properties throughout the Southern New Jersey and Philadelphia regions.

Our team of dedicated professionals is in place to provide the highest levels of commercial real estate research and information about Southern New Jersey land and other Southern New Jersey commercial properties.  Wolf Commercial Real Estate is creating a new culture and a higher standard of service.  At WCRE, we learn about our client’s goals, make them our own, and integrate those goals into an enduring partnership.  We go well beyond helping with property transactions and serve as a strategic partner invested in our client’s long-term growth and success.

For more information about how Wolf Commercial Real Estate can put this knowledge, experience and information to work for you, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com), or Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) at Wolf Commercial Real Estate, the premier Southern New Jersey and Philadelphia region Commercial Real Estate Brokerage and Advisory firm. As real estate brokerage and advisory experts in Southern New Jersey and the Philadelphia region, the team at our New Jersey commercial real estate brokerage firm provides ongoing detailed information to our clients and prospects to help them achieve their real estate goals.

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.com<http://www.southjerseyofficespace.com/>, www.southjerseymedicalspace.com<http://www.southjerseymedicalspace.com/>, www.southjerseyland.com<http://www.southjerseyland.com/> and www.southjerseyretailspace.comhttp://www.southjerseyretailspace.com/.

WCRE markets Southern New Jersey and Philadelphia commercial offices, medical properties, industrial properties and retail buildings for buyers, tenants, investors and sellers in such areas as Marlton, Moorestown, Mount Laurel, Cherry Hill, Voorhees and Pennsauken. Please visit our websites for listings of Southern New Jersey commercial real estate for lease or sale or for information about medical space, retail space or office space for sale or lease from this premier Southern New Jersey Commercial Real Estate Brokerage firm.

Land for Lease Or Sale From Wolf Commercial Real Estate

WCRE (Wolf Commercial Real Estate) is a full-service commercial real estate brokerage and advisory firm specializing in office, medical, retail, industrial, investment and land properties. We provide a complete range of real estate services to commercial property owners, companies, and investors seeking the highest quality of service, proven expertise, and a total commitment to client-focused relationships. We value relationships more than any other aspect of our business. We’re connectors with the people, resources, properties, and partners that your company needs to achieve its goals.

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 learn about your goals, make them our own, and integrate those goals into an enduring partnership. We go well beyond helping with property transactions and serve as a strategic partner invested in your long term growth and success.

Each WCRE client is treated as though they are our only client, no matter their particular need. Your goals become our goals. We understand how to think like investors, owners, and tenants, and we leverage our deep roots and extensive experience in Philadelphia, Southern New Jersey, and throughout the United States to connect clients with the properties, resources, and opportunities they need.

For more information about WCRE, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com), Leor Hemo (856-857-6302; leor.hemo@wolfcre.com) or Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) at Wolf Commercial Real Estate, the premier Southern New Jersey and Philadelphia region Commercial Real Estate Brokerage and Advisory firm. As real estate brokerage and advisory experts in Southern New Jersey and Philadelphia region our team provides ongoing information to our clients and prospects to help them achieve bottom line savings, reduce their costs, and mitigate their levels of risk.

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.com<http://www.southjerseyofficespace.com/>, www.southjerseymedicalspace.com<http://www.southjerseymedicalspace.com/>, www.southjerseyland.com<http://www.southjerseyland.com/> and www.southjerseyretailspace.com<http://www.southjerseyretailspace.com/>.

WCRE markets Southern New Jersey and Philadelphia commercial offices, medical properties, industrial properties, retail buildings and land for buyers, tenants, investors and sellers in such areas as Marlton, Moorestown, Mount Laurel, Cherry Hill, Voorhees and Pennsauken. Please visit our websites for listings of Southern New Jersey commercial real estate and landn for lease or purchase or for information about medical space, retail space, office space and land for sale or lease from this Southern New Jersey Commercial Real Estate Broker.

WCRE Appointed Exclusive Agent For Two Premier South Jersey Land Sites

Wolf Commercial Real Estate (WCRE) has been appointed exclusive agent to market two premier Southern New Jersey land sites: 593 Route 73 in West Berlin NJ and 1001 Laurel Oak Road in Voorhees NJ.

The highly visible 3.75-acre site in West Berlin is located on Route 73 North, in close proximity to Sahara Sam’s, the largest indoor water park in the tri-state area, the new Virtua Hospital, and many other retail businesses and medical facilities.  With more than 43,000 vehicles per day, this prime South Jersey land site offers a great development opportunity for hospitality, health, retail, or professional uses.

The site at 1001 Laurel Oak Road in Voorhees is part of the South Jersey Professional Center, located in the Voorhees Corporate Center. This premier approved land parcel can be purchased with the approved +/-10,000 square foot medical/professional office plans in place and/or the ownership can build to suit based on a buyer’s specific needs. This site offers a great opportunity to any medical or professional practice looking to expand within a prestigious professional park. Other major occupants of the Voorhees Corporate Center include Children’s Hospital of Philadelphia, Flyer’s Skate Zone, AAA of Southern New Jersey, Thomas Jefferson University Hospital, KinderCare, Hampton Inn, and Kellman Brown Academy Day School.

WCRE’s Jason Wolf & Leor Hemo were retained to market these sites. More information and marketing brochures are available upon request.

WCRE is a full-service commercial real estate advisory firm specializing in office, retail, industrial and investment properties. We provide a complete range of real estate services to commercial property owners, companies, 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.com,   www.southjerseymedicalspace.com, www.southjerseyland.com and www.southjerseyretailspace.com.

WCRE markets Southern New Jersey and Philadelphia commercial offices, medical properties and retail buildings for buyers, tenants, investors and sellers. Please contact us for listings of Southern New Jersey commercial real estate for lease or purchase or for information about office space, retail space or medical space for sale or lease from this Southern New Jersey Commercial Real Estate Broker.