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MEMBERS’ CORNER

• Kreischer Miller Expands Geographic Footprint with New Office in Lehigh Valley
• Penn Community Bank VP Named to Bucks County SPCA Board of Directors
• Colliers International Ranks the Eastern Pennsylvania Submarket as One of the Most Rapidly Growing Markets in the United States


Kreischer Miller Expands Geographic Footprint with New Office in Lehigh Valley

Kreischer Miller, a leading independent accounting, tax, and business advisory firm serving the Greater Philadelphia area since 1975, today announced the opening of a new office in Allentown, Pennsylvania, in the heart of the Lehigh Valley region. This marks Kreischer Miller’s first office expansion in its 41-year history. The firm celebrated the occasion with a grand opening reception Wednesday, July 27 at Grille 3501 in Allentown.

“We are excited to open a new office in the Lehigh Valley. Having another location in close proximity to our growing client base in the region demonstrates our commitment to outstanding client service and being available when and where our clients need us. It will also enable us to capitalize on new opportunities,” said Stephen W. Christian, managing director of Kreischer Miller. “The expansion is an important step in our firm’s continued organic growth.”

Kreischer Miller directors Todd E. Crouthamel and Brian J. Sharkey will lead the Lehigh Valley office. “Kreischer Miller has a number of long-standing client relationships in the Lehigh Valley. We are delighted to now have a physical presence in the region,” Crouthamel said. “And since several of our team members reside in the area, we look forward to furthering our involvement in the community.”

“At Kreischer Miller, our focus is on providing excellent guidance and advice to our clients to help them navigate their futures. We have the breadth and depth of services often associated with larger, national firms while offering a high-touch approach generally found with smaller firms,” added Sharkey. “Our new location will allow us to bring that same level of expertise and entrepreneurial spirit to privately-held companies in the Lehigh Valley.”

James Santo, Controller at Keystone Food Products in Easton, Pennsylvania said, “We were excited to learn about Kreischer Miller’s new Lehigh Valley office. They have always been a key advisor to us and have recently helped us determine the best tax structure for our company in order to minimize current and future taxes for our business and our shareholders.”

In addition to its core accounting, tax, and business advisory services, Kreischer Miller offers a number of other services such as human capital and IT services to privately-held and family-owned companies. “Over the past several years I’ve had the pleasure of working with Kreischer Miller’s Human Capital Resources practice for our retained executive search needs. Their team has done a wonderful job of understanding the mission and culture of our organization in assisting us with leadership positions, matching candidates with our specific needs,” said Lisa Fichera, Chief Operating Officer of Allentown-based Phoebe Ministries. “Kreischer Miller also provides valuable support to Phoebe Ministries in completing salary and benefits studies for us.”

Kreischer Miller’s Lehigh Valley office is located at 4905 West Tilghman Street, Suite 230, Allentown, PA 18104.

To learn more about Kreischer Miller, visit www.kmco.com


Penn Community Bank VP Named to Bucks County SPCA Board of Directors

Penn Community Bank, Bucks County’s leading independent, mutual financial organization, is pleased to announce that Vice President Linda Cooper has been named to the board of directors of the Bucks County SPCA.

Cooper has been working in the banking industry for more than 29 years. She currently serves as Penn Community Bank’s Vice President of Retail Operations, managing the operational aspects of the bank’s 22 branches across Bucks County. Always an animal lover, she has focused her volunteer efforts on animal-assisted therapy, visiting area nursing homes with her German shepherd. She has been involved with animal-assisted therapy for more than 20 years.

“I’m honored to help lead the Bucks County SPCA,” said Cooper. “I’ve seen firsthand the joy that animals can bring to people, and I’m thrilled to support this wonderful organization that does so much good for both the people and the animals of Bucks County.”

Many of Penn Community Bank’s executive leaders donate their time and talents to service and community organizations across the greater Philadelphia area. As an organization, Penn Community Bank supports many local nonprofits, including United Way of Bucks County, Habitat for Humanity of Bucks County, Vita Education Services, Bucks County Opportunity Council and Bucks County Housing Group.

Todd Hurley, Chief Relationship Officer for Penn Community Bank, said of the appointment, “We all have a vested interest in helping the communities across Bucks County to thrive. Linda’s appointment to the board of directors of the Bucks County SPCA continues our work to build beneficial relationships with the groups that help make this a great place to live, work and play.”

The Bucks County SPCA assists animals in need and prevents animal suffering through rescue, rehoming, cruelty investigation and prosecution, and community outreach. The independent nonprofit operates shelters in Lahaska and Quakertown and offers public training classes and temporary boarding for pets referred by a social service agency during emergencies and donates pet supplies to food pantries.

About Penn Community Bank: Penn Community Bank holds more than $1.8 billion in assets and employs more than 300 people at 22 bank branches and two administrative centers throughout Bucks County. As an independent, mutual financial institution, Penn Community Bank is not publicly traded and operates with its long-term mission in mind: to help businesses grow and prosper, to support individuals and families throughout their lifetimes, to strengthen the local economy, and to partner with local organizations to act as a catalyst for positive growth in every market it serves. 


Colliers International Ranks the Eastern Pennsylvania Submarket as One of the Most Rapidly Growing Markets in the United States

Colliers International Group Inc. recently released its Industrial Logistics & Transportation Solutions 2016 Mid-Year Outlook – Big-Box Market Report, examining influencing factors in six major North American distribution markets for industrial properties 300,000 sq. ft. or larger. Colliers’ analysis reveals that supply chain modernization—which is still in its infancy—and positive e-commerce sector growth continue to bolster the U.S. industrial real estate market, particularly big-box, which is experiencing a record number of tenants in the market.

The Eastern Pennsylvania Big-Box/Logistics Market posted strong gains across most submarkets. Led by the Lehigh Valley/I-78 Submarket, where overall growth topped 8% year to date, which contributed significantly to overall market growth of over 3%. This level of growth would rank the Eastern PA Region as one of the most rapidly growing markets in the US.

Key Takeaways

  Significant market growth - overall market growth in the Eastern PA “big-box” markets was over 3% in the first half of 2016. This was led by the Lehigh Valley, which posted over 8% market growth.

  Record construction deliveries - new deliveries topped 6.7 MSF and are on track to total over 15 MSF by year end.

  Strong occupier activity – by mid-year there was over 6 MSF of new occupier transactions. The top five occupier transactions, included Starbucks (1.2 MSF) in Manchester PA; An undisclosed user in Easton (1.1 MSF); Hudson Bay (617,000 SF) in Pottsville; Cal Cartage (538,650 SF) in Bethlehem and Samsung (750,000 SF) in Bethel.

  Substantial rent growth – especially in the Lehigh Valley, where achievable market rents now top $5 per square foot.

Increased supply – primarily weighted by Central Pennsylvania/ I-81 South, overall supply increased slightly, leading to a 38 basis point increase in vacancy rate from year end 2015.

  Growing activity pipeline – new occupier activity and anticipated deals should result in a higher volume of transactions during the second half of 2016.

With lower vacancies, higher effective rents and strong absorption, demand will continue to outpace supply in core markets.

Key market highlights for New Jersey/Lehigh Valley/Eastern Pennsylvania include:

Demand from logistics and e-commerce users has propelled this market to emerge as one of the most robust in the country. Big-box leasing activity has more than doubled between Q2 2015 and Q2 2016. During the first half of 2016, a total of 18.4 MSF was leased, the most for a core North American market.

The full Colliers International Industrial Logistics & Transportation Solutions 2016 Mid-Year Outlook – Big-Box Market Report is available for download at www.colliers.com/en-us/us/insights/marketnews/2016-mid-year-industrial-logistics--transportation-big-box-report.

About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; and customized research.

For the latest news from Colliers, visit Colliers.com.