Unprecedented Growth in Harrisburg - August 2005
by Bill Gladstone, CCIM, SIOR

Commercial growth has been almost unprecedented in the Harrisburg market during the last year.

Along I-81 at Mountain Road, Wal-Mart will be creating a new store, possibly a superstore. Pennsylvania State Bank is also creating a new location along Mountain Road, paying approximately $200,000 per acre. Nearby is a small shopping center with Interior Furniture Resources and KoKoMo's in a split-level building with a deck. The Tractor Supply Company will settle soon on a 4-acre tract across the street that will have access to a signalized intersection. Several years ago, the area was mostly fields.

The Clover Hill Business Park has sold land at prices between $195,000 and $250,000 per acre. Once envisioned to be small flex space, buyers have instead been PinnacleHealth System, Faulkner-Ciocca, the Pennsylvania State Police, and Highmark Blue Shield.

In Hershey, a new Giant Shopping Center is located on 16 acres along Route 39. Across the street, Turkey Hill will settle soon on a pad site. Further down Route 39, a new hotel and a Members First Credit Union will be opening soon.

The Camp Hill Shopping Center was re-designed to include a 90,000 SF Giant Shopping Center, a 55,000 SF LA Fitness, and a 40,000 SF freestanding medical facility.

On the Carlisle Pike, the Lowe's Home Improvement Center has moved next to the Navy Depot. A pad site there is a hot location and several companies are rivaling for the spot. Further down, in Silver Spring Township , the racetrack and flea market are under agreement and the new tenants will be Target and Wegman's Food Market. Car dealerships have started to move down the Carlisle Pike closer to Cumberland Valley High School and are purchasing large tracts of land to service central Pennsylvania.

These are only a few examples of the rapid growth in the area. It has been controlled well by the zoning and the local township supervisors and commissioners. The next few years will have well-maintained and organized growth for the Harrisburg market.

**Feature in the August 2005 edition of the "New Properties" email.

Copyright 2005 BillGladsone.com. All Rights Reserved.

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