2121 OLD GATESBURG ROAD - SUITE 110 TWO-STORY CLASS-A ...€¦ · 315 S. ALLEN ST., STE. 325A STATE COLLEGE, PA 16801 814.571.3440 SALES AGENT: MICHAEL R. BAKER 717 994 7232 [email protected]

315 S. ALLEN ST., STE. 325ASTATE COLLEGE, PA 16801814.571.3440 www.pkarealty.com

SALES AGENT:MICHAEL R. BAKER717 994 [email protected]

ADDITIONAL CONTACT:CHRISTIAN T. AUMILLER717 348 [email protected]

2121 OLD GATESBURG ROAD - SUITE 110TWO-STORY CLASS-A OFFICE SPACE FOR LEASE

OFFERING MEMORANDUM

POOLE, KARCH & AUMILLER PAGE 2

CONFIDENTIALITY & DISCLAIMER

CONFIDENTIALITY AND DISCLAIMER STATEMENT

Intended solely for your own limited use to determine whether you wish to express any further interest in the Property. This confidential memorandum contains brief, selected information pertaining to the business and affairs of the Property and has been prepared by PKA Realty Advisors & Brokerage, primarily from information supplied by the Owner. Although this confidential memorandum has been reviewed by representatives of the Owner, it does not propose to be all-inclusive, nor does it contain all the information which a prospective purchaser may require or desire. Neither the Owner, nor any of its officers, directors, employees or agents, nor PKA Realty Advisors & Brokerage, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents, and no legal liability is assumed or is to be implied by any of the aforementioned with respect thereto. Prospective offers are advised to verify the information independently. The Owner reserves the right to change the price or any information in this Memorandum, or to withdraw the Property from the market at any time, without notice. This confidential memorandum shall not be deemed an indication of the state of affairs of the Property or the Owner, nor shall it constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this memorandum. By your receipt of this confidential memorandum, you agree that the information contained herein is of a confidential nature and you will not disclose this memorandum or any part of the contents to any other person, firm or entity without prior authorization from PKA Realty Advisors & Brokerage.

315 S. ALLEN ST., STE. 325ASTATE COLLEGE, PA 16801814.571.3440 www.pkarealty.com

SALES AGENT:MICHAEL R. BAKER717 994 [email protected]

ADDITIONAL CONTACT:CHRISTIAN T. AUMILLER717 348 [email protected]

TABLE OF CONTENTS

> EXECUTIVE SUMMARY ............................................................4

> PROPERTY OVERVIEW

PROPERTY DETAIL .....................................................................6

LOCATION OVERVIEW ................................................................7

PROPERTY IMAGES ...................................................................8

AERIAL IMAGES ..........................................................................9

AERIAL MAP OVERVIEW ........................................................... 11

> MARKET OVERVIEW

AREA OVERVIEW ...................................................................... 13

DEMOGRAPHIC OVERVIEW ..................................................... 15

TRANSPORTATION ACCESS .................................................... 16

OFFICE MARKET REPORT ........................................................ 17

> ZONING OVERVIEW

ZONING ORDINANCE NO. ####-## ......................................... 18


EXECUTIVE SUMMARY

PKA Realty Advisors & Brokerage is pleased to present for lease Suite 110 at 2121 Old Gatesburg Road, State College, PA (“the Property”).

The Property is located within the heart of Science Park, just east of Downtown State College and Pennsylvania State University. The Property is within short driving distance of the University Park Airport.

The office space is ideal for a large employer looking for additional space or a small employer looking to take a portion of the space following tenant build-outs.

CALL FOR MORE INFORMATION

INVESTMENT HIGHLIGHTS

> Two-floorsofClass-Aofficespace for lease totallingover28,000sq.ft., with a private entry, common area gym, and common kitchen/eatery > Prior tenant leftoffice furniture, includingasubstantialnumberofcubicles,makingtheofficemove-inready.

> Landlord willing to discuss conversions to smaller space areas for lease.

> Strong demographics and growing market.

> Close proximity to Downtown State College, Pennsylvania State University, and the Univrsity Park Airport.

> Zoning: IRD (Light Industrial, Research, & Development

PROPERTY O V E R V I E W

2121 OLD GATESBURG ROAD, SUITE 110STATE COLLEGE, PA 16803


PROPERTY DETAILS

PROPERTY DETAILS

L ist Pr ice $24.00 / sq.f t.

Lega l Address 2121 Old Gatesburg Road, Su i te 110State Col lege, PA 16803

Tax ID Number Par t of Tax Map No. 24-004-,102-,0000-

Ava i lab le Lease Space 28,500 sq. f t.

Zon ing IRD (L ight Industr ia l , Research, and Deve lopment)

Lease Terms Tr ip le-Net Lease

Di rect ions 0.24 mi les f rom intersect ion of O ld Gatesburg Rd and Sc ience Park Rd

Year Bui l t 2005

CAM

Taxes

$7,837.50 / mo

$5,605.00 / mo


LOCATION OVERVIEWThe Property is located in Ferguson Township along Old Gatesburg Road, close to the intersection of Old Gatesburg Road and Science Park Road, west of Downtown State College and Pennylvania State University. The asset offers two floors of Class-A office space in the heart of Science Park, surrounded by many other growing commercial and industrial ventures in the Centre County region. The area is served by the Interstate 99, Unviersity Park Airport, and the Centre Area Transportation Authority (“CATA”). The site is between Pittsburgh and Philadelphis markets and their corresponding international airports.

NEARBY CITIES DISTANCE DRIVING TIME

Philadelphia 196 miles 3 h 7 min

Pittsburgh 136 miles 2 h 18 min

Harrisburg 90 miles 1 h 30 min

New York City 243 miles 3 h 46 min


FIRST FLOOR - FLOOR PLAN


FIRST FLOOR - COMMON AREA ENTRYWAY


FIRST FLOOR - OFFICE IMAGES


FIRST FLOOR - PRIVATE ENTRY


FIRST FLOOR - CONFERENCE ROOMS


FIRST FLOOR - COMMON GYM & KITCHEN


SECOND FLOOR - FLOOR PLAN


SECOND FLOOR - COMMON AREA ENTRYWAY


SECOND FLOOR - OFFICE IMAGES


SECOND FLOOR - OFFICE AMENITIES


AERIAL IMAGE


SCIENCE PARK MAP

M A R K E T O V E R V I E W

STATE COLLEGE PA


AREA OVERVIEWABOUT STATE COLLEGE PENNSYLVANIA

State College, PA, is the largest borough in the State of Pennsylvania and centers primarily around Penn State University, one of the largest universities in the country; Penn State boasts an overall enrollment of just shy of 100,000 students, with over 45,000 students calling Main Campus in State College their home. Penn State combines the academics of a top-tier research university with the athletic programs for mens and womens sports that rival any other university, most famously their Blue & White Nittany Lion Football Team that draws over 100,000 fans to Beaver Stadium, making State College the third most populated city in the state on home-game Saturdays in the fall.

CENTRE COUNTY LARGEST EMPLOYERS

COMPANY PRODUCT/SERVICE

The Pennsylvania State University University

Mount Nittany Medical Center Medical

State Government Government

State College Area School District School District

Glenn O. Hawbaker, Inc. Industrial

Wal-Mart Associates, Inc. Retail Services

County of Centre Government

Mount Nittany Medical Center Health Services Medical

Weis Markets, Inc. Food Services

Geisinger Clinic Medical

Federal Government Government

Bellefonte Area School District School District

Wegman’s Food Markets, Inc. Food Services

AccuWeather, Inc. Commercial

Shaner Operating Corporation Hospitality

Restek Corporation Manufacturing


AREA OVERVIEWCENTRE COUNTY ECONOMY

The economy of Centre County was originally built around Penn State University. However, State College has grown to be more than simply a “college town,” but instead as developed into one of the densest cities of its population size in the entire U.S. Newly constructed high rises continue to be sandwiched between College Avenue and Beaver Avenue, adding to the population center that drives Centre County.

Over the last ten years, the area has seen a construction boom, with several mixed-use towers being developed, including the 12-story Metropolitan building in 2017 and the 12-story mixed-use building The Rise in 2018. Penn State University continues to be the largest employer in the area, providing significant academic and technological research for private firms, government agencies, and the public.

Additionally, Centre County has seen employment and population growth of 9% and 13.9%, respectively, with each barometer outpacing the rest of the State of Pennsylvania by roughly 4%. Such robust growth continues to increae the economic outlook for State College and Centre County for years to come.

Other industries include government and government related enterprises, health care and social assistance, retail trade, hospitality and food services, professional, scientific and technical services, manufacturing, and construction.

Population

162,805Housing Units

67,144Median Income

$58,055

DEMOGRAPHIC SNAPSHOT (2018 Estimates) LOCAL AMENITIES

1. Penn State University Campus2. Downtown State College Nightlife3. Mount Nittany4. Whipple Dam State Park5. State College Spikes Minor League Team6. Multiple 18-Hole Golf Courses7. Beaver Stadium & Penn State Football8. Millbrook Marsh Nature Center

9. Tussey Mountain Ski Resort10. Penn State Berkey Creamery11. Pennsylvania Military Museum12. Local Breweries and Wineries13. The Arboretum at Penn State14. Fisherman’s Paradise Fishing Area15. Greenwood Furnace State Park16. Palmer Art Museum


DEMOGRAPHIC OVERVIEW | KEY FACTS

BUSINESS

EDUCATION

HOUSING

162,805Population

5.7%Pop. Growth (2010-2018)

2.47Persons PerHousehold

$58,055Median

Household Income

High School Graduate or Higher

94.3%Bachelor’s Degree or Higher

44.7%

3,361Employer Establishments

46,119Total Employment

57,908Household

$966Median Gross Rent

$271,2842018 Average Home

Sale Price

$


TRANSPORTATION ACCESS

CENTRE AREA TRANSPORTATION AUTHORITY (CATA)The Centre Area Transportation Authority (“CATA”) is a joint municipal authority serving the six (6) municipalities that form the Centre Region (College, Ferguson, Halfmoon, Harris, and Patton Townships, and State College Borough), Bellefonte Borough, Spring Township, and Benner Township. CATA provides a wide area of safe, reliable, and affordable means of transportation, including bus and shuttle services, as well as ridershare services, to the Centre Region, as well as extended services to Bellefonte, Pleasant Gap, and Stormstown. Whether you’re a fifth-year senior, local business executive, or a visitor for the day, the user-friendly maps and schedules allow for easy transportation all across State College and its surrounding areas.

UNIVERSITY PARK AIRPORTBuilt in the 1950’s and located only several miles from downtown State College, University Park Airpot has grown to be the sixth (6th) busiest airport in Pennsylvania in 2018. With an easy-to-navigate terminal and ample parking, University Park Airport services Delta, American Airlines, United, and Allegiant, enabling the airport to provide daily flights to Philadelphia, Chicago, and Washington D.C. (Dulles), as well as non-stop flights to Orlando, FL and Tampa, FL. Taxi services, limousine services, and car rental services are also avaiable for arrival or departure from University Park Airport.

UBER / LYFT RIDE-SHARING SERVICESUber and Lyft are at the forefront of ride-sharing services that have quickly taken over the transportation market in State College, offering easy-to-use apps for students, locals, and visitors alike to make their way around the bustling social scene throughout the Centre Region. As an off-shoot, Uber Eats has also made a home in State College, offering food deliverty service to local restaurants for late nights at the office or group study sessions at the HUB-Robeson Center. With many students looking for part-time, on-the-go work, the number of drivers offering Uber and Lyft rides will only continue to grow.

Z O N I N G O V E R V I E W

STATE COLLEGE PA


ZONING


SALES AGENT:

MICHAEL R. BAKER717 994 [email protected]

ADDITIONAL CONTACT:

CHRISTIAN T. AUMILLER717 348 [email protected]

315 S. ALLEN ST., STE. 325ASTATE COLLEGE, PA 16801www.pkarealty.com

Documents

2121 OLD GATESBURG ROAD - SUITE 110 TWO-STORY CLASS-A ...€¦ · 315 S. ALLEN ST., STE. 325A STATE COLLEGE, PA 16801 814.571.3440 SALES AGENT: MICHAEL R. BAKER 717 994 7232 [email protected]