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Monthly Archives: February 2014


MOUNT LAUREL NJ OFFICE SPACE FOR LEASE

MOUNT LAUREL NJ OFFICE SPACE FOR LEASE

Wolf Commercial Real Estate, the number one choice for commercial real estate in Southern New Jersey, is a full service brokerage firm specializing in commercial real estate, medical space, office space, and commercial parcels. We offer best-in-class brokering for companies and individuals looking for office space and other commercial property. We’re your top choice for commercial land and developed space in New Jersey.

Are you looking for affordable office space close by to major New Jersey throughways, bridges, and commercial areas? Do you want easy access to all of Southern New Jersey, and the Philadelphia metro area? Does your company need to expand into somewhere that’s affordable and business-friendly? There’s good news! Right now, there’s a great office space for lease in Mount Laurel, NJ. With flexible space options, you’re sure to get the right size office for your business—with room to grow!

The office spaces range in size from 2,000 to 34,000 square feet, offering amazing flexibility for the size of your company. Whether you’re big or small, we have the right space for you. Located in the Greentree North Corporate Center, this office complex is conveniently located to everything in Southern NJ, including major highways and bridges. Available immediately, this space ranges from $11.00-$12.00 sf NNN.

Browse all our local real estate listings for commercial properties, medical space, or retail properties from anywhere in the country. At Wolf Commercial Real Estate, we are focused on creating a partnership with our clients—so that you have a smooth transition, from the very beginning of the relocation analysis process, all the way to your move-in date and beyond.

For more information about NJ office space, about other New Jersey commercial real estate listings, or about commercial real estate elsewhere in the United States, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) or Leor Hemo (856-857-6302; leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate broker.

About Us

Wolf Commercial Real Estate is a South Jersey commercial real estate broker that provides a full range of Southern New Jersey commercial real estate services, marketing commercial offices, medical properties, investment properties, industrial properties, land parcels and retail buildings for buyers, sellers, tenants and investors. 

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MEDICAL SPACE FOR LEASE IN MARLTON, SOUTH NJ

MEDICAL SPACE FOR LEASE IN MARLTON, SOUTH NJ

Wolf Commercial Real Estate, the #1 New Jersey commercial real estate brokerage firm, is your top choice for commercial land and medical, industrial, and office space in New Jersey. Through our office, we represent both buyers and sellers, and owners and tenants, for all their New Jersey space needs throughout the state, the region and the entire country. 

Is your healthcare or medical company looking to expand? Are you in the market for affordable medical space near to one of southern New Jersey’s main byways? Do you want medical space that’s convenient to Philadelphia PA that won’t break the bank? Well, there’s good news! Right now there’s a perfect NJ medical space building for lease that can fit your needs. With over 38,000 square feet of divisible space, you’ll have plenty of room to grow.

Located inside West Jersey Office Plaza, in Marlton, New Jersey, this medical space has direct access to all kinds of retail stores, restaurants, and more! And it’s very close by to major medical facilities, meaning that you’re close to what you need. It’s available for immediate occupancy, so don’t hesitate to act now! 

Browse all our local real estate listings for commercial properties, medical space, or retail properties from anywhere in the country. At Wolf Commercial Real Estate, we are focused on creating a partnership with our clients—so that you have a smooth transition, from the very beginning of the relocation analysis process, all the way to your move-in date and beyond.

For more information about NJ office space, about other New Jersey commercial real estate listings, or about commercial real estate elsewhere in the United States, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) or Leor Hemo (856-857-6302; leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate broker.

About Us

Wolf Commercial Real Estate is a South Jersey commercial real estate broker that provides a full range of Southern New Jersey commercial real estate services, marketing commercial offices, medical properties, investment properties, industrial properties, land parcels and retail buildings for buyers, sellers, tenants and investors. 

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OFFICE SPACE, AMAZING LOCATION IN WESTAMPTON NJ

OFFICE SPACE, AMAZING LOCATION IN WESTAMPTON NJ

Wolf Commercial Real Estate, the #1 New Jersey commercial real estate brokerage firm, is your top choice for commercial land and medical, industrial, and office space in New Jersey. Through our office, we represent both buyers and sellers, and owners and tenants, for all their New Jersey space needs throughout the state, the region and the entire country.

Are you in the market for office space in Southern New Jersey? Do you want to get the best deal in office real setae? Is your company looking to move to a location that’s conveniently located close to major metropolitan areas? An office in southern New Jersey might be just the right thing! And right now, there’s a great opportunity for your company to get the South New Jersey office space that’s right for you.

This office space could not be better located. Just 15 minutes away from Mount Laurel and Trenton, this property is just off I-295. With approximately 10,000 feet of space on a 2.77 acre plot, there’s plenty of room to grow. And right now, the asking price for this great office space is only $975,000, with up to 100% financing available!

Browse all our local real estate listings for commercial properties, medical space, or retail properties from anywhere in the country. At Wolf Commercial Real Estate, we are focused on creating a partnership with our clients—so that you have a smooth transition, from the very beginning of the relocation analysis process, all the way to your move-in date and beyond.

For more information about Philadelphia area commercial space, about other New Jersey commercial real estate listings, or about commercial real estate elsewhere in the United States, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) or Leor Hemo (856-857-6302; leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate broker.

About Us:

Wolf Commercial Real Estate is a South Jersey commercial real estate broker that provides a full range of Southern New Jersey commercial real estate services, marketing commercial offices, medical properties, investment properties, industrial properties, land parcels and retail buildings for buyers, sellers, tenants and investors.  

 

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U.S. OFFICE SPACE MARKET MADE GAINS IN 2013

U.S. OFFICE SPACE MARKET MADE GAINS IN 2013

Wolf Commercial Real Estate, the #1 New Jersey commercial real estate brokerage firm, is your top choice for commercial land and medical, industrial, and office space in New Jersey. Come to us first for all southern New Jersey real estate and space needs, including space near the Philadelphia area. Through our office, we represent both buyers and sellers, and owners and tenants, for all their New Jersey space needs throughout the state, the region and the entire country.

Have you been worried about the state of the United States economy? Have you been wondering if it has recovered yet from the recession? Do you need office space, or do you work in real estate focusing on office space? Well, there’s been good news so far in 2014! The market for US office space has made healthy gains in 2013, and forecasters are projecting a good-looking 2104. 

Net absorption in the United States rose 22% in 2013, reaching 59 million square feet. And not only that, but the vacancy rate dropped from 12.4% to 11.9%—50 basis points. Experts point to the increased demand for office space as the leading factor. Whatever the cause, now is a great time to be involved in the office space market, and it’s looking brighter all the time.

For more information about NJ office space, about other New Jersey commercial real estate listings, or about commercial real estate elsewhere in the United States, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) or Leor Hemo (856-857-6302; leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, the foremost South Jersey commercial real estate broker.

About Us

Wolf Commercial Real Estate is a South Jersey commercial real estate broker that provides a full range of Southern New Jersey commercial real estate services, marketing commercial offices, medical properties, investment properties, industrial properties, land parcels and retail buildings for buyers, sellers, tenants and investors.

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FEBRUARY 2014 MARKET AND ECONOMIC CONDITIONS

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FEBRUARY 2014
MARKET AND ECONOMIC CONDITIONS
By Adam B. Landau
Permit Capital Advisors, LLC

Even the best-intentioned attempts to discuss the state of affairs in our country today have a propensity to result in a strident and partisan exchange. The tendency on most topics is to begin a debate by pointing fingers at a political party or its perceived doctrinaire representative, and then to devolve from there. There are, however, certain issues that transcend partisan politics because their rightful remediation is both clear and critical. One of those is the need for our educational system to be recalibrated, so as to better train our population to fulfill the needs of a modern economy.

The US used to be number one in the percentage of young people with a college degree. Now, it is number twelve. With unemployment at 6.7%, but unemployment for those with a bachelor’s degree or higher at less than half of that figure, or 3.3%, reversing that trend is of paramount importance. In an economy where enhanced productivity has eliminated the need for 35 million jobs since 2001, the leverage in the marketplace would seem to rest with training our workforce in the technical skills that result in productivity enhancement rather than training them in the fields that are being systematically eliminated.

This would imply an emphasis on what are commonly referred to as the STEM fields, of science, technology, engineering, and mathematics. Instead, the government has significantly cut its support for basic research in science and engineering. What had amounted to 4.5% of GDP in the 70s is now down to 2.5%. The negative impact is felt today on both our competitiveness and economic growth trajectory. Of course, in a world in which the Fed fears deflationary forces more than those that are inflationary because deflation boosts the real burden of our debt, we can’t escape the fact that we may be faced with less money to spend on education going forward, not more. Even if tapering were to continue, we are still adding to a $4 trillion balance sheet that is five times higher than it was prior to 2008, and is heading to $5 trillion by the end of this year.

With public indebtedness at its highest peacetime level in many advanced economies, solutions to raise cash are in high demand. One area that is being increasingly explored is the privatization of public assets. State owned enterprises in OECD countries are worth $2 trillion, with another $2 trillion in minority stakes in companies and utilities. For governments that are looking for ways to deliver, privatization is a useful tool. It allows governments to cut their debts, shore up their balance sheets, and improve their credit ratings, thus lowering borrowing costs. Historically, it also improves an economy’s efficiency by boosting competition and applying private-sector capital and commercialized skills to newly unencumbered assets. Both Margaret Thatcher and Ronald Reagan used it as a tool to transform utilities, telecoms, and the transport sectors, and recent trends would seem to indicate that their approach has been studied by today’s leaders.

Another issue that engenders general agreement amongst our citizenry is the importance of shifting our external accounts to a more sustainable profile – and the improvement has been marked. At the end of 2005 the current account deficit reached 6.2% of GDP, indicating a society that was living conspicuously beyond its means. By the end of the third quarter of 2013 it had dropped to 2.2%, the lowest since 1998. The two primary factors at work were the surge in domestically produced oil and gas, and demographics. On the latter, as baby boomers age they have a tendency to spend less on imported goods and more on domestically-produced services. With respect to what some are calling an “energy revolution”, the impact is felt on not only our current account deficit, but on capital expenditures as well. According to a study from HIG Global, hydraulic fracturing (or “fracking”) will generate $890 billion to $1.15 trillion in new infrastructure spending – pipes, railcars, storage tanks, pumps, refining equipment – from 2014 through 2025.

The timing for this surge in spending couldn’t be better, as within other industries the flood of central bank liquidity is deterring corporations from investing in real capital goods in favor of financial engineering in the form of recapitalizations and stock buybacks. Corporations spent $500 billion, or 2% of the S&P 500, buying back their shares in 2013. These debt financed repurchases boost earnings-per-share but not growth. This is why metrics like price/sales and market cap/GDP are at levels not seen since the dotcom boom of the late-90s. Also supportive of stock prices has been historically high margins. Much of this stems from controlling labor costs. As noted previously, productivity gains have allowed companies to eliminate jobs, as evidenced by the ongoing skew of national income towards the corporation and away from labor. Corporate profits as a percentage of national wages have swelled to 27%, from levels below 15% in the 80s. Cheap oil and natural gas, a byproduct of the “energy revolution”, has also played a major role in altering businesses margin structure. It’s hard to say whether margins need to naturally come down (one threat would be a strengthening dollar since about half of the earnings of S&P 500 companies come from overseas), but it’s equally hard to see room for much improvement.

The support for earnings that came from a reduction in share count and an increase in margins contributed to gains in equity markets last year, but the real octane that propelled domestic equity indices up more than 30% was the jump in valuations. US equity valuations rose by 20% last year, the largest increase since the tech boom in 1998, chiefly because central banks flooded the markets with easy money and investors became willing to pay more for each dollar companies earned. As a result, the S&P 500 now trades at 15.4x projected profits, up from 12x in 2012. Using the cyclically adjusted price-to-earnings ratio developed by Professor Robert Shiller of Yale University, which attempts to eliminate the fluctuation of the ratio caused by variation of profit margins during business cycles, the market looks even more expensive. The most recent reading of 25.6x is 55% above the historic average of 16.5x.

Facing a landscape in which the traditional barometers of value and risk are tenuous, a vigilant approach to managing exposures will be the key to achieving an investors goals. We believe that taking advantage of premiums offered by illiquidity and volatility, being willing to make investments into parts of the market that most are eschewing, and a focus on an appropriate allocation to uncorrelated assets, will allow investors to continue to build portfolio value in the face of ongoing challenges. One such sector that is worthy of an increased allocation in 2014 is commercial real estate. However, picking the right assets, the right part of the capital structure and the right local operators to invest with is more important today than four years ago when the market was still languishing. While there may be occasional sharp increases in interest rates that reduce the spread between cap rates and borrowing costs, like we saw last summer, the Fed is likely to remain accommodative for several years in an effort to keep rates from rising significantly. Furthermore, trends in capital flows and demand for space are key drivers of commercial real estate performance, not just interest rates. If rates were to rise amid an improving economy, as is typically the case, demand for real estate should have a positive effect on property performance, particularly in an environment of limited new supply that is making rents and occupancy levels less dependent on increased demand. In terms of capital flows, there are two important tailwinds: investors currently have a constructive attitude regarding the underwriting and pricing of commercial real estate assets, and large institutional investors such as pension funds and sovereign wealth funds are increasing their allocation to the space in an effort to diversify their portfolios, both as a source of income and as an inflation hedge. Given the burgeoning risks in traditional asset classes as described above, we don’t look for this trend to reverse any time soon.

About Adam Landau

Adam Landau is Chief Executive Officer and Chief Investment Officer of Permit Capital Advisors, LLC. He has 15 years of experience evaluating investment managers, developing asset allocation strategies, and coordinating the process by which the two disciplines are merged. Visit http://www.permitcapital.com to see how Adam and Permit Capital Advisors, LLC can grow your wealth.

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SOMERSET PROPERTIES EXPANDS WCRE RELATIONSHIP, AWARDING 13 NEWLY ACQUIRED OFFICE AND FLEX PROPERTIES

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SOMERSET PROPERTIES EXPANDS WCRE RELATIONSHIP, AWARDING 13 NEWLY ACQUIRED OFFICE AND FLEX PROPERTIES

New Exclusive Agency Assignment Adds More than 584,000 Square Feet in
Marlton and Mount Laurel, New Jersey 

February 4, 2014 – Marlton, NJ – WCRE is pleased to announce that it has been appointed exclusive leasing agent for a significant portion of the Southern New Jersey portfolio recently acquired by Somerset Properties. This is an expansion of the relationship which started last year, when WCRE became exclusive agent for four Somerset Properties-owned buildings. With Somerset Properties increasing its South Jersey real estate holdings, WCRE will assume leasing responsibilities for an additional 13 buildings, nine of which are located in the Greentree North Corporate Center in Mount Laurel, with the remaining four in the Marlton Crossing Office Park in Marlton. The new assignment totals 584,028 SF, and Somerset Properties has grown its presence in the market to 1,500,000 SF. 

“Somerset Properties is a very community-focused and entrepreneurial operator, and their expansion is setting a bullish tone for our market,” said WCRE principal Jason Wolf. “We see endless possibility in the properties they have entrusted to WCRE, and we are excited to connect new tenants to that vision.”

The nine Mount Laurel properties are well located on Commerce Parkway, providing direct access to Route 73 and convenient access to I-295, the New Jersey Turnpike, and Route 70. Amenities within the corporate center include an on-site daycare center, and there are several restaurants, retail stores, banks, and hotels in the immediate area, including Greentree Square Shopping Center, East Gate Square, and the Moorestown Mall. Available vacancies range from 2,000 SF to 34,000 SF.

The four Marlton properties are located on Lippincott Drive, which is directly off of Route 73, with convenient access to I-295, the New Jersey Turnpike, and Route 70. These properties are also surrounded by an abundance of retail centers, including restaurants and The Promenade at Sagemore. Amenities include a walking/jogging path within the office park. The vacancies within these buildings range from 3,979 SF to 14,000 SF. 

“The WCRE team has developed a unique and very effective marketing platform, and we are excited to expand our strategic partnership” said Jennifer Wierman, director of leasing at Somerset Properties.

The leasing team of Jason Wolf, Leor Hemo, Christina Del Duca and Todd Levin will be leading the effort.

The Greentree North Corporate Center properties are located in Mount Laurel, at:

  • 6000 Commerce Parkway
  • 9000 Commerce Parkway
  • 11000 Commerce Parkway
  • 12000 Commerce Parkway
  • 14000 Commerce Parkway
  • 15000 Commerce Parkway
  • 16000 Commerce Parkway
  • 17000 Commerce Parkway
  • 18000 Commerce Parkway

The Marlton Crossing Office Park properties are located in Marlton, at:

  • 301 Lippincott Drive
  • 303 Lippincott Drive
  • 400 Lippincott Drive
  • 406 Lippincott Drive

A marketing brochure for each of these properties is available upon request.

About WCRE

WCRE is a full-service commercial real estate brokerage and advisory firm specializing in office, retail, medical, 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, banks, commercial loan servicers, 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.southjerseyindustrialspace.com, www.marltonofficespace.com, and www.mountlaurelofficespace.com .

About Somerset Properties

Somerset Properties, headquartered in Lower Gwynedd, PA, is a full-service real estate company focused on development, investment and property management. Somerset Properties has regional offices located in Allentown, PA; Mount Laurel, NJ; Milwaukee, WI and High Point, NC. Somerset Properties currently owns and manages 5.2 million square feet of office, industrial and flex space in 4 regions of the US.  Somerset Properties creates value for investors by BUILDING REAL PROPERTY SOLUTIONS with its entrepreneurial approach to acquiring, managing, leasing and developing commercial properties.

Learn more about Somerset Properties at www.somprop.com

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