C&W Expands Mid-Atlantic Presence with Harrisburg, Pa., Office
- Feb 08, 2013
Cushman & Wakefield is bolstering its presence in the busy I-81 corridor of Central Pennsylvania with the opening of a new office.
The office, located at 4507 N. Front St. in Harrisburg, adds to the global commercial real estate firm’s existing regional bases in Mid-Atlantic cities like Philadelphia, Washington, D.C., and Baltimore. The firm also has an office in Conshohocken, Pa.
“In keeping with our strategic growth initiative, our new Harrisburg office reflects our vision to provide the most creative and innovative services on a consistent basis delivering meaningful value to our clients,” John Derham, senior managing director and market leader of Cushman & Wakefield of Pennsylvania, said in a prepared statement.
Clients to be served by the Harrisburg office include corporate users and institutional investors and landlords. It will also be a home base for the firm’s industrial brokerage team of Gerry Blinebury, Leah Balerno, Patrick McBride and Adam Campbell. The team currently represents more than 15 million square feet of property for sale and/or lease.
“We have been actively serving clients in the Central Pennsylvania market for a number of years from our Philadelphia base, however, a significant amount of recent growth has warranted the need for a full-time staff of professionals in Harrisburg,” Blinebury, senior director of the firm’s industrial brokerage group in the region, said in the release. “This new location allows us to continue our growth of services at the local level from the heart of the I-81 corridor, which is the fastest growing market in the state.”
Joining the industrial team at the Harrisburg office will be Elaine Motilla, who recently joined Cushman & Wakefield as a senior portfolio manager. She will manage a 675,000-square-foot office portfolio in the Harrisburg area. Motilla will also be focusing on growing the Corporate Occupier and Investor Services group in the market, according to the firm.
Several industry reports have focused on the growth of the I-81 and-I-83 corridors in Pennsylvania and the need for more development of industrial and warehouse space. Some of that new space, about 1.5 million square feet of it speculative, hit the market in the second half of 2012 and actually caused vacancy to rise to 13.2 percent, higher than the 10.4 percent for the entire Eastern Pennsylvania, Southern New Jersey and Delaware market, according to a Q4 2012 Industrial Research and Forecast Report by Colliers International. But Colliers expects higher absorption in 2013 as the recent spec completions are leased up. The report adds that a new round of spec development is under way.
In build-to-suit projects, Unilever moved into a 1.4 million-square-foot facility in Cumberland County near Carlisle, Pa. The Southern I-81-I-83 market also saw the top four leases in third and fourth quarters, including Armada Supply Chain Solutions, which agreed to take 400,000 square feet in a new lease at Antrim Commons just north of the Maryland-Pennsylvania border on I-81.
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