MARCH 2021

SPOTLIGHT ON BUCKS

Perkasie PA

Bucks County Commercial Real Estate Holding Up Well and There are Reasons for Optimism About the Future

Considering the chaos of the past twelve months, Bucks County’s office market has fared relatively well.

In the largely rural Upper Bucks County, vacancies remain close to 6.5%. That’s well under the national average and the area did not experience a radical softening in demand because of the coronavirus.

Lower Bucks County is where much of the local office inventory is located. This area was struggling somewhat prior to the pandemic but held on relatively well through the turbulence. While Lower Bucks overhead vacancy rate is about 13%, which is slightly higher than the national average, the region hasn’t experienced much softening through the pandemic.

CoStar’s data for Lower Bucks County shows the region lost about 230,000 square feet of tenant occupied office space over the past twelve months. This moved the local vacancy rate upwards by about 1%, which is obviously not ideal, but wasn’t nearly the softening experienced in some areas of Philadelphia and New York.   

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NOTEWORTHY NEWS

BCEDC is Planning its Annual Event for 2021. 

survey graphic

We would like your opinion. 

We would like to hold the Annual Meeting this year but realize we may need to do things a bit differently. Your feedback will help us make sure all who attend feel comfortable and safe.

Please complete the survey here.

Take the survey

 

 

If you already completed the survey, thank you for your time and opinion.

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COMPANIES ON THE MOVE

Colliers International Represents U.S. Steel in Sale of 1,800-acre, Iconic Pennsylvania Plant

USSteelKIPC 1536x1040Hero Clean

Sale Creates Opportunity for Highly Desirable Industrial Redevelopment in Excess of 10 Million SF Along I-95

Leading global commercial real estate services and investment management firm Colliers International Group Inc. is pleased to announce it has represented United States Steel Corporation (NYSE: X) in the sale of the iconic Keystone Industrial Port Complex (the “KIPC”) located in Fairless Hills, PA.

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COMPANIES ON THE MOVE

Information provided by The Flynn Company and SVN-Ahia Commercial Real Estate.

BENSALEM
Industrial
Grand Total
Sq. Ft.
50,000
50,000
FALLS
Ground
Grand Total
Acres
2.45
2.45
WARMINSTER
Industrial
Grand Total
Sq. Ft.
11,200
11,200
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BUSINESS HAPPENINGS

Bucks County

Lenape Real Estate Partners, LLC, was approved for a 15-year, $423,000 loan at a 2% fixed interest rate to acquire and renovate a 14,705-square-foot multi-tenant building in Upper Southampton Township. The building is a condominium unit divided into three sections consisting 6,361 square feet of office space and 8,344 square feet of light manufacturing and warehouse space. The total project cost is $1.058 million, and the company anticipates 25 to 30 full-time jobs to occupy the facility once fully leased.

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FINANCIAL TOOLBOX

We Are in This Together

sba economic injury disaster loans

The SBA has recently updated important guidance regarding the EIDL initial grant of $10,000.00. We are in this together. As such, we are passing this information along to our Bucks County business community. Please feel free to contact us with any questions. 215-997-7222.

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FINANCIAL TOOLBOX

DCED Program Interest Still Low – Contact Us Now! Offers Good Until 3/31/2021

rates

For Real estate loans financing eligible land and building costs, borrowers will have the following interest rate options:

For term loans with a regular amortization;

1) Fixed interest rate for the full term of the loan (up to a 15-yr. period), set at the current 10-year treasury yield + 100 basis points. Based on the current 10-year treasury yield, the fixed rate option is 2.00% for the life of the loan.

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THE BOTTOM LINE

Organizing Your Organization

reorganize

When you hear about a large corporation experiencing distress, terms like “reorganization” and “right-sizing” start flying around. The bills for change management firms to help negotiate implementation also begin piling up. For the small and medium sized companies SEWN works with, this is not the case. Signs of distress can mean the end if help isn’t sought in time.

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THE BOTTOM LINE

The Power of “What If”

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by Christopher F. Meshginpoosh, Managing Director, Kreischer Miller

2020 was quite a year. It started out like any other year, but by March, a global pandemic threw the economy—and almost every other aspect of our society—into a tailspin. I still remember meeting with our leadership team in early March to discuss contingency plans, and wondering whether or not we were overreacting. However, within days, our fears became reality as lockdowns affected businesses throughout our region.

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MEMBERS' CORNER

The Well of Life Center for Holistic Healthcare

Well of lifeClinical Team at the Well of Life Center

The Well of Life Center for Holistic Healthcare was founded on the belief that the body has an incredible ability to heal itself. Through functional healing, the Well of Life Center educates you so that you understand what is going on within your body, what is causing it distress, and how you can put it back in balance naturally. Unlike the traditional medical community, our Clinicians don’t treat symptoms with medication but, instead, find the underlying causes of each problem. By coming to the Well of Life Center, you will understand why your body responds in certain ways and learn how to truly heal it holistically.

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MEMBERS' CORNER

Tracy Flissar, Nappen & Associates

Jill Gude 100x1200 1

I am excited to partner with the BCEDC and look forward to connecting with my fellow members!       

A little about me – my name is Tracy Flissar and I have over 17 years of experience in the commercial real estate industry with specific focus in the industrial sector. 

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MEMBERS' CORNER

Jillian Gude, Nappan & Associates

Jill Gude 100x1200 1Greetings! I am excited to become a part of the BCEDC.

My name is Jillian Gude and I recently graduated in 2019 of Indiana University of Pennsylvania with a bachelor’s degree in marketing. As soon as I graduated, I went to real estate school to obtain a real estate license. Since then, I have been working in the real estate business just as the market was reaching record highs.

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MEMBERS' CORNER

Vincent Hope, Hope Capital Investments

hope capitalSix years ago I worked at Wendy’s. Today my company repositions 1-4 unit residential, small commercial, class C, value add, real estate in the Philadelphia metro area.

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NEW MEMBERS

Phil Lanctot
Advanced Capital Network

Felix Zusin
Bucks Realty Group, LLC

Deanna DeGuiseppe-Ward
C&M Commercial Mortgage & Business Financing LLC

Thomas Krol
DesignNotes.com, Inc.

Qinzhen Li
FairyGene Inc.

Alan Breece
Gemini Plastics

Matt Boys
GlidePath Power Solutions

Liz Proud
Greenbriar Capital

Vincent Hope
Hope Capital Investments LLC

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