When it comes to identifying a “hot” township for commercial real estate investment, there’s more to it than just location. At The Bill Gladstone Group of NAI CIR, we specialize in helping investors and business owners find the right properties across Central Pennsylvania by tracking key indicators that signal growth, opportunity, and long-term value.

Whether you’re new to commercial real estate or expanding your portfolio, here’s what we look for when determining whether a township is on the rise.

1. Population Growth and Demographic Shifts

A growing population often leads to rising demand for retail, office, and industrial space. We closely monitor township-level trends using data from the U.S. Census Bureau, including:

• Influx of new residents
• Increases in median income
• New housing starts

Suburbs like Lower Paxton and Swatara Township have experienced sustained population growth—making them increasingly attractive to tenants and investors alike.

➡️ Read our full spotlight on Lower Paxton Township to see why it’s one of Central PA’s most promising areas.

2. Business-Friendly Local Government

Supportive local policies can make all the difference when it comes to CRE success. We evaluate:

• Zoning flexibility and planning resources
• Permitting speed and transparency
• Local tax credit and incentive programs

Pennsylvania offers a number of statewide programs to support business expansion, such as those found through the PA Department of Community & Economic Development. Townships that work hand-in-hand with businesses to encourage development tend to outperform their peers in commercial growth.

➡️ Learn more about how Harrisburg’s growth is impacting CRE.

3. Access and Visibility

High-traffic corridors and accessible infrastructure are critical for most types of commercial properties. Our team looks for:

• Proximity to interstates (e.g., I-81, I-83, Route 22)
• Strong traffic counts and ingress/egress points
• High visibility for signage and branding

The Pennsylvania Department of Transportation (PennDOT) publishes information on transportation projects and traffic data, which we use to help forecast property desirability and accessibility.

 ➡️ For more on how to evaluate a location, check out our step-by-step guide to finding the perfect office space.

4. Commercial Anchors and Economic Clusters

Clusters of thriving businesses help create momentum in a township. We assess:

• National and regional tenant presence
• Proximity to hospitals, universities, or logistics centers
• Commercial vacancy and absorption rates

When we see established brands investing in a particular area, it often signals that the infrastructure, workforce, and customer base are all trending in the right direction.

5. Planned Infrastructure and Economic Development

Smart investors look not only at what’s already in place—but what’s coming. We keep a close eye on:

• Announced infrastructure improvements
• Utility and broadband expansion
• Mixed-use and public-private developments

Organizations like the Capital Region Economic Development Corporation (CREDC) offer insights into these developments.

 ➡️ Our Cumberland County spotlight covers one area with significant planned growth and investment potential.

Why It Matters

CRE success is built on more than luck—it’s about reading the signals. At The Bill Gladstone Group, we combine hyperlocal market knowledge with economic data to help our clients spot opportunities early and invest with confidence.

Whether you’re looking for your first office investment or expanding a portfolio, our team is here to guide you toward high-potential townships across Central PA.

➡️ New to investing? Start with our guide to Understanding CRE for First-Time Investors.

🔗 Explore current opportunities:
View Our Listings
📞 Contact The Bill Gladstone Group

Nestled just east of Harrisburg, Lower Paxton Township is quietly becoming one of the most dynamic commercial real estate submarkets in Central Pennsylvania. Known for its convenient access, growing population, and business-friendly environment, Lower Paxton is drawing attention from tenants, investors, and developers alike.

At The Bill Gladstone Group of NAI CIR, we’ve been watching this market evolve—and we’re seeing strong indicators that this area is not only growing, but positioning itself as a commercial hotspot for the years ahead.

Location, Access, and Economic Vitality

Lower Paxton Township is home to a population of more than 53,000 and is one of the fastest-growing townships in Dauphin County. The area benefits from direct access to I-81 and I-83, making it a natural choice for companies that want connectivity to Harrisburg, Hershey, and the broader Central PA region.

With a balance of residential growth and retail development, the township has continued to attract national brands while supporting a thriving network of local businesses. The Jonestown Road commercial corridor remains one of the most active retail and service hubs in the region, and office users are taking note of the available inventory at competitive rates.

Available Properties in Lower Paxton Township

We’re currently marketing several standout opportunities in Lower Paxton—each offering a unique combination of visibility, functionality, and location.

🏢 5901 Linglestown Road – Office or Medical Use

View Listing →
This ±7,000 SF freestanding building is ideal for office or medical use, situated along the highly visible Linglestown Road corridor. With ample parking and a flexible layout, this property offers move-in-ready space in a growing healthcare and professional services pocket.

🏢 5201 Jonestown Road – Professional Office Space for Lease

View Listing →
Located near the heart of Lower Paxton’s commercial district, this office suite offers convenient access, signage opportunities, and on-site parking. The layout is efficient for small businesses or satellite offices looking for a foothold in a high-traffic area.

🛒 4301-4309 Jonestown Road – Retail Pad/Land Lease

View Listing →
Situated along Jonestown Road’s retail corridor, this pad-ready opportunity offers prime exposure to over 20,000 vehicles per day. Ideal for fast-casual, medical retail, or service-based tenants, this site supports new development with flexible lease options.

Why Lower Paxton, Why Now?

As many businesses look beyond major metro cores for cost-effective and accessible locations, Lower Paxton is becoming a prime candidate. The township offers:

• Strong consumer traffic and workforce access
• A mix of retail, office, and industrial zoning
• Competitive lease and sale pricing
  Ongoing investment in infrastructure and development

The combination of livability, visibility, and affordability continues to attract both users and investors who want long-term value and immediate functionality.

Let’s Talk CRE in Lower Paxton

If you’re exploring options in Lower Paxton—whether you’re relocating, expanding, or investing—The Bill Gladstone Group is here to help you make the most of the opportunity.

With over 35 years of experience serving the Central PA market, we’re ready to help you navigate every step of the commercial real estate process.

📞 Contact us today to schedule a tour or discuss your business goals.

Located just north of Harrisburg City, Susquehanna Township continues to stand out as a premier destination for businesses seeking convenience, visibility, and long-term value. From well-established commercial corridors to a diverse residential base, this township offers a balanced ecosystem where professional services, medical users, and small businesses can thrive.

At The Bill Gladstone Group of NAI CIR, we’re seeing renewed interest in Susquehanna Township—and for good reason. With strong demographics, direct access to major highways, and a pro-business mindset, it’s an area where commercial real estate continues to deliver.

A Strategic Location with Built-In Demand

With a population of over 24,000 residents, according to the U.S. Census data, Susquehanna Township offers a built-in customer base for service businesses and professional users. It borders Harrisburg City, Lower Paxton Township, and Progress, and provides quick access to I-81, Route 22, and I-83, making it an attractive location for clients and employees alike.

The township’s economic planning and community development efforts—outlined by the Susquehanna Township municipal site—emphasize commercial corridor vitality and accessible infrastructure. Its close proximity to Harrisburg’s core without the congestion gives it a distinct strategic advantage.

High-Visibility Space on Linglestown Road

One of the township’s most notable commercial arteries is Linglestown Road, where traffic counts and professional activity remain strong. According to PennDOT’s traffic volume data, this corridor sees thousands of vehicles per day, connecting commuters, clients, and businesses across Central PA.

That’s what makes this next listing so exciting for office users:

Available Now: Office Suite on Linglestown Road

🏢 2151 Linglestown Road, Suite 200 – Office for Lease

Located in a modern, well-maintained building, this ±3,409 SF Class A office suite offers:

• A large reception area
• Multiple private offices and a conference room
• A break area and open work space
• Shared on-site parking
• Excellent signage and exposure

View location on Google Maps

This space is ideal for legal, accounting, marketing, consulting, or light medical users looking for a professional image and immediate functionality.

Why Susquehanna Township Works for Business

Beyond access and affordability, Susquehanna Township offers a high quality of life, a diverse and educated population, and a steady commercial presence supported by long-standing businesses and newcomers alike.

The area is also supported by regional advocates like the Harrisburg Regional Chamber & CREDC, which works closely with local leaders to promote sustainable economic development.

As larger cities face rising costs and space constraints, secondary markets like Susquehanna Township are gaining ground. Insights from the CCIM Institute and NAI Global point to increased interest in well-located suburban office spaces, especially those near population centers and commuter routes.

Explore What’s Next in Central PA

If you’re looking for accessible, functional space for your business—or if you’re exploring opportunities in one of Central PA’s most connected townships—2151 Linglestown Road deserves a closer look.

📞 Contact The Bill Gladstone Group today to schedule a private tour or to explore additional properties across Harrisburg and the surrounding region.

Located just south of Harrisburg, Swatara Township is a strategic commercial hub within Dauphin County—offering businesses a powerful combination of visibility, access, and affordability. From highway-fronting retail land to move-in-ready office space, this township is well-positioned for long-term growth and short-term results.

At The Bill Gladstone Group of NAI CIR, we’re seeing continued interest from business owners, investors, and developers looking to capitalize on Swatara Township’s central location, infrastructure, and flexibility.

Why Swatara Township Works

With a population of over 27,000 residents, according to the U.S. Census Bureau, Swatara Township serves as both a residential community and a commercial throughway. It borders Harrisburg City, Lower Paxton Township, and Steelton, and includes key retail destinations such as the Harrisburg Mall area and Eisenhower Boulevard corridor.

The township offers easy access to I-83, I-283, and the PA Turnpike, making it a prime location for logistics, hospitality, retail, and office users. Development initiatives highlighted on the Swatara Township municipal site continue to support smart growth, while proximity to the Capital Region Water infrastructure and Harrisburg International Airport adds to the area’s commercial appeal.

Featured Properties in Swatara Township

We’re proud to represent two unique commercial opportunities in this fast-growing market:

🏢 471 JPL Wick Drive – Office for Lease

Located in a quiet office park just off Eisenhower Boulevard, this ±3,000 SF office space offers:

• Multiple private offices and conference room
• Ample on-site parking
• Easy access to I-83 and downtown Harrisburg
• Flexible lease terms and immediate occupancy

Ideal for professional services, consulting, or administrative use, this space is a great fit for companies seeking a Harrisburg-area presence with suburban convenience.

🛒 1330 Eisenhower Blvd – Retail Land for Sale

This ±0.62-acre parcel offers prime retail frontage along Eisenhower Boulevard, one of the most heavily traveled commercial corridors in Dauphin County. Key features include:

• Zoned Commercial General (CG)
• 125 feet of frontage
• High traffic counts (per PennDOT traffic data)
• Minutes from I-83, the airport, and major distribution centers

This site is ideal for QSR, medical retail, service-based businesses, or national franchise development. It’s a rare opportunity to own land along a major retail artery with proven demand and visibility.

Positioned for Business Growth

Swatara Township continues to benefit from infrastructure investment and proximity to critical transportation networks. It also offers attractive conditions for site selectors and developers who want to reach Central PA’s workforce and customer base without the congestion and pricing of downtown cores.

Organizations such as the Harrisburg Regional Chamber & CREDC have supported numerous projects in the area, citing Swatara’s unique position in the regional market.

As NAI Global and the CCIM Institute note in their ongoing market analyses, secondary markets with strong access and affordability are increasingly becoming go-to options for businesses looking to scale responsibly.

Explore What’s Possible in Swatara Township

Whether you’re looking for buildable land on a high-traffic retail corridor or a flexible office lease in a quiet professional setting, Swatara Township offers real opportunity.

📞 Contact The Bill Gladstone Group today to schedule a tour of either featured property—or to explore additional listings across Central PA.

As we progress through the second quarter of 2025, the commercial real estate (CRE) landscape continues to evolve amidst economic uncertainties, policy changes, and shifting market dynamics. Here’s a snapshot of the key trends shaping the industry this month.

Industrial Sector: Balancing Demand and Supply

The industrial real estate market remains robust, driven by sustained e-commerce growth and the need for efficient logistics solutions. However, developers are cautiously increasing construction activity to meet demand. According to JLL’s U.S. Industrial Outlook (Q1 2025), new construction starts rose 14% year-over-year, marking the first increase since mid-2023. Vacancy rates have slightly increased to 4.7%, indicating a normalization of market dynamics rather than a decline in fundamentals.​ Source

Multifamily Sector: Navigating Competitive Pressures

The multifamily housing sector is experiencing heightened competition, particularly in urban areas with increased supply. Landlords are offering more concessions to attract tenants, with rent concessions rising by 9% since January, as reported by Yardi Matrix. Despite these challenges, national rent growth remains steady at 1.8% year-over-year, suggesting underlying demand remains healthy. Source

Office Sector: Signs of Stabilization Amid Challenges

The office market continues to grapple with the impacts of remote and hybrid work models. The U.S. office vacancy rate has increased to 19.9% at the end of March, reflecting ongoing adjustments in tenant space requirements. However, there are signs of stabilization, with companies seeking high-quality, amenity-rich spaces to support flexible work arrangements. The “flight to quality” trend persists, as tenants prioritize modern, sustainable buildings that enhance employee well-being. Source

Retail Sector: Suburban Retail Gains Momentum

Suburban retail centers are outperforming urban counterparts, driven by shifting consumer behaviors and population movements. Neighborhood shopping centers anchored by essential services such as grocery stores, fitness centers, and healthcare facilities are experiencing lower vacancy rates, averaging 5.1% compared to 6.7% in urban retail. This trend presents opportunities for investors focusing on necessity-based retail assets. Source

Capital Markets: Cautious Optimism Amid Economic Uncertainty

Investor sentiment in the CRE market has become more cautious due to economic uncertainties and recent policy changes. According to a survey by the CRE Finance Council, optimism in the sector fell by 30.5% in Q1 2025, the second-largest decline on record. Key concerns include rising construction costs due to new tariffs and disruptions in the office sector following federal lease cancellations. Despite these challenges, there is cautious optimism that lower interest rates could revive transaction activity later this year. ​Source

Looking Ahead

The commercial real estate market in April 2025 reflects a complex interplay of stabilizing sectors and emerging challenges. While industrial and multifamily sectors show resilience, the office and retail markets continue to adapt to new realities. Investors and stakeholders must remain agile, informed, and strategic to navigate this evolving landscape effectively.​

For personalized insights and guidance tailored to your commercial real estate objectives, connect with The Bill Gladstone Group of NAI CIR—your trusted partner in Central Pennsylvania.

As Central Pennsylvania’s capital city, Harrisburg has been quietly transforming—and the commercial real estate (CRE) market is feeling the impact. With population shifts, infrastructure upgrades, and renewed investment in business districts, the region is drawing attention from both local and out-of-state investors.

Here’s how Harrisburg’s ongoing growth is influencing CRE across office, retail, industrial, and multifamily sectors.

Office Space is Evolving with Business Growth

As more professionals relocate to the region and companies adopt hybrid models, Harrisburg is seeing a shift in demand toward modern, flexible office environments. Areas near downtown, like the Capitol Complex and Midtown, are gaining momentum, especially for small-to-mid-sized firms looking for well-located, updated space.

For a deeper dive into hybrid space demand, check out:
👉 The Quiet Revolution: Transforming Office Spaces Post-Pandemic

Retail is Rebounding in Strategic Corridors

Neighborhood revitalization efforts and renewed foot traffic are breathing new life into certain retail corridors. Urban convenience retail is especially thriving, as mixed-use development and population density support local businesses.

Learn more:
👉 5 Reasons to Buy Commercial Real Estate in the Greater Harrisburg PA Area 

Multifamily Development Supports the Momentum

With more professionals and young families choosing Harrisburg, demand for rental housing remains strong. Developers are actively pursuing adaptive reuse and infill opportunities, especially in areas with walkability and transit access.

More on this topic:

👉 The Influence of Demographic Shifts on Commercial Real Estate Markets 

Final Thoughts

Harrisburg is no longer just the state capital—it’s becoming a key market to watch for commercial real estate growth and investment. Whether you’re a business owner, investor, or property owner, understanding these trends can help you stay ahead of the curve.

Want expert insight into buying, selling, or leasing commercial property in the Greater Harrisburg area?

📞 Contact The Bill Gladstone Group of NAI CIR—we’re here to help you make confident, informed decisions.

As Q1 2025 wraps up, commercial real estate continues to reflect a marketplace in motion. While some sectors are finding stability, others are still adjusting to new economic realities, tenant behaviors, and investment strategies. Below is a quick snapshot of the major trends shaping CRE in March.

Industrial Sector: Sustained Demand. The industrial real estate market remains strong, fueled by continued e-commerce growth and demand for last-mile logistics and distribution space. While leasing activity is normalizing to pre-pandemic levels, warehouse lease renewals are becoming increasingly expensive for tenants. According to CBRE’s U.S. Industrial & Logistics Figures (Q4 2024), average asking rents reached $10.13 per square foot, a 61% increase from Q4 2019—a sign of both demand pressure and limited new supply in key markets. ​Source

Multifamily Sector: Stabilization in Progress. The multifamily sector is showing signs of stabilization. Vacancy rates are gradually rising, and construction has slowed for the seventh consecutive quarter, indicating a healthier market balance. While rent growth remains modest, demand aligns with pre-pandemic levels, suggesting a steady outlook for this sector. Source

The office sector continues to adapt to hybrid work models, with a growing focus on high-quality, sustainable spaces that foster collaboration and productivity. While demand remains uneven across markets, PwC’s Emerging Trends in Real Estate® 2025 notes that flight-to-quality trends are reshaping office leasing patterns, with companies seeking spaces that support flexibility and employee well-being. Source

Retail real estate is experiencing a resurgence, particularly in high-quality city destinations. Companies like Hammerson are undergoing transformations, focusing on premium assets. Despite reporting a £526 million loss in 2024 due to strategic divestments, Hammerson’s repositioning towards higher-quality city destinations has yielded positive results, with strong footfall, sales, leasing, and capital redeployment trends continuing into 2025. Source

Investor sentiment in commercial real estate (CRE) is cautiously optimistic. According to Deloitte’s 2025 Commercial Real Estate Outlook, over 68% of respondents expect conditions for CRE fundamentals to improve in 2025 across areas such as cost of capital, capital availability, property prices, transaction activity, leasing activity, rental growth, and vacancies. This reflects a significant boost in optimistic sentiment compared to the previous year. Source

Looking Ahead

The March 2025 CRE landscape highlights the importance of agility and informed decision-making. With industrial and multifamily sectors showing resilience, and office and retail continuing to evolve, the path forward lies in strategic adaptability.

For localized expertise and guidance tailored to your commercial real estate goals, connect with The Bill Gladstone Group of NAI CIR—your trusted partner in Central Pennsylvania.

Cumberland County, PA, may not be the first place that comes to mind when you think of prime commercial real estate (CRE) markets. However, with its growing economy, strategic location, and expanding infrastructure, this area is quickly emerging as one of the next hotspots for CRE investment. Whether you’re a first-time investor or an experienced professional, Cumberland County presents a wealth of opportunities that make it a prime candidate for your next investment.

1. Strategic Location

One of the key factors that make Cumberland County so appealing is its proximity to major metropolitan areas. Located in Central Pennsylvania, Cumberland County is just a short drive from Harrisburg, the state capital, as well as other bustling cities like York and Lancaster. The county’s accessibility via major highways like I-81 and I-83 offers ease of transportation, making it a prime location for both commercial and industrial properties. This connectivity enhances its appeal for businesses looking to expand in the region.

2. Booming Industrial Sector

Cumberland County has seen a rise in industrial development, particularly in logistics and manufacturing. The area’s prime location near major highways, as well as the growing demand for e-commerce, has made it an attractive option for distribution centers and warehouses. Several large-scale industrial projects have been announced or are already underway, further solidifying the county’s position as a key player in the industrial real estate market.

3. Affordable Real Estate

In comparison to other areas in Pennsylvania and the surrounding states, Cumberland County offers a relatively affordable real estate market. The cost of land and commercial properties is lower than in cities like Philadelphia or Pittsburgh, making it an ideal location for businesses seeking lower operating costs. This affordability extends to both leasing and purchasing options, making it an attractive proposition for investors looking to maximize their returns.

4. Strong Economic Growth

Cumberland County has experienced steady economic growth in recent years, driven by diverse industries including healthcare, education, manufacturing, and technology. The presence of major employers such as the Cumberland Valley School District, Penn State Health, and the Carlisle Area School District has fueled the local economy, creating demand for commercial properties. This robust economic environment provides a solid foundation for long-term CRE investments.

5. Increasing Population and Development

Cumberland County is also experiencing population growth, with an increasing number of residents choosing to relocate to the area. This influx of residents is fueling demand for housing, retail spaces, and commercial services. The county’s expanding infrastructure, including improvements to transportation and utilities, is helping to accommodate this growth. Developers are responding to the growing demand, with new residential, retail, and mixed-use projects in the pipeline.

6. Attractive Tax Incentives and Local Support

Cumberland County offers a range of tax incentives to attract businesses and developers to the area. Local governments are actively working to support economic development through tax abatements, enterprise zones, and other incentive programs that help reduce the financial barriers to entry. These incentives make the area even more appealing to those considering CRE investment, allowing for greater potential returns.

7. Proximity to Major Education and Healthcare Institutions

The presence of several educational and healthcare institutions, including Penn State University and a range of medical facilities, enhances the area’s appeal to both businesses and residents. Educational institutions drive demand for research and development space, while healthcare facilities continue to be a major contributor to the local economy. This diverse base of institutional support ensures that Cumberland County remains resilient and attractive for CRE investment.

Spotlight on Key Listings in Cumberland County

As Cumberland County continues to rise as a commercial real estate hotspot, The Bill Gladstone Group is proud to offer several prime property listings in the area. These properties represent some of the best investment opportunities in the region, whether you’re looking for retail, industrial, or office spaces. Here are a few standout listings:

• Location: Mechanicsburg Borough, Cumberland County
• Type: Retail/Office Space

Overview: This property offers a prime location in the heart of Mechanicsburg, making it an ideal choice for businesses looking to establish themselves in a growing and accessible area. With proximity to major highways and local amenities, this space provides excellent potential for both retail and office tenants.

• Location: New Cumberland Borough, Cumberland County
• Type: Retail/Industrial Space

Overview: Located in New Cumberland, this property is well-positioned for businesses looking to capitalize on the county’s growth. Its strategic location near key transportation routes and surrounding infrastructure makes it an ideal spot for retail or industrial operations.

• Location: Lemoyne Borough, Cumberland County
• Type: Retail/Office Space

Overview: This versatile property is situated in the heart of Lemoyne, offering excellent exposure to both foot traffic and vehicular access. It’s an ideal space for businesses looking to benefit from the continued growth and development in this vibrant community.

• Location: Wormleysburg Borough, Cumberland County
• Type: Office Space

Overview: Positioned just outside of Harrisburg, this office space offers a strategic location for businesses seeking proximity to the state capital without the higher costs. The space is ideal for professional services, offering easy access to major roads and the Harrisburg metropolitan area.

These listings are prime examples of the types of commercial real estate opportunities available in Cumberland County, all strategically located to take advantage of the county’s growing infrastructure, increasing demand, and business-friendly environment. Whether you’re looking to lease or invest, these properties represent an excellent entry point into Cumberland County’s expanding CRE market.

Conclusion

Cumberland County is quickly emerging as a key commercial real estate market in Pennsylvania. With its strategic location, booming industrial sector, affordable real estate, and robust economic growth, the county is becoming an increasingly attractive destination for businesses and investors alike. The listings featured by The Bill Gladstone Group represent just a small sample of the lucrative opportunities available in the area.

Whether you’re looking to expand your portfolio, start a new venture, or take advantage of the county’s growing infrastructure, Cumberland County offers the potential for long-term success. As the area continues to develop and evolve, it’s clear that the opportunities in this region are poised for growth.

Explore the commercial real estate potential that Cumberland County has to offer—contact The Bill Gladstone Group today to learn more about available properties and how we can help you navigate this dynamic market.

The commercial real estate (CRE) market in October 2024 continues to demonstrate a mix of hurdles and opportunities, with each sector adapting uniquely to the economic landscape. Here’s an overview of the most impactful trends shaping the market this month:

Office Sector Challenges Remain

The office sector still struggles with high vacancy rates, currently around 19% in major urban areas, as remote and hybrid work remain the norm. This has led to a steady decrease in demand for traditional office spaces, with property values down roughly 15% over the last year. In response, landlords are increasingly turning to adaptive reuse strategies, such as converting underutilized office properties into multifamily housing or shared workspaces, to offset losses and add value. Source U.S. News

Industrial Sector Holds Steady

The industrial sector maintains a cautiously optimistic outlook. While e-commerce growth and supply chain reshoring efforts keep leasing demand strong, some markets are beginning to show signs of slower absorption rates and potential oversupply. Nonetheless, rent growth persists, making industrial real estate a valuable asset class. Developers are focusing on modernization to align facilities with evolving logistics and distribution needs.  Source U.S. News

Retail Sector Shows Resilience

Retail real estate remains resilient, particularly in high-traffic locations where vacancy rates are low. Consumer spending has held steady, driven by the continued shift back to in-person shopping. However, challenges such as rising interest rates and inflation could impact consumer confidence moving forward. Retailers adopting an omnichannel approach are likely to remain competitive in this evolving landscape. Source U.S. News

Multifamily Sector Remains Strong

The multifamily sector continues to perform well, buoyed by a persistent housing shortage in urban centers. Demand for rental units outpaces supply, keeping vacancy rates low and investment interest high. However, rising interest rates may pose challenges for financing new developments, potentially slowing growth in this sector. Source U.S. News

Financial Challenges and Interest Rate Pressures

High interest rates persist as a common challenge across all CRE sectors. With the Federal Reserve’s ongoing effort to curb inflation, borrowing costs are higher, contributing to a rise in delinquency rates on commercial mortgages. As a significant amount of CRE debt nears maturity, there could be additional stress on the market unless rates stabilize as some analysts project. Source Business Insider

Looking Ahead

As we progress through the fourth quarter of 2024, adaptability and strategic investment remain key. While the office sector faces persistent obstacles, other sectors like multifamily and retail offer opportunities for savvy investors. Emerging themes such as technology integration, sustainability, and adaptive reuse will play essential roles in the months ahead as the CRE market continues to adjust.

Despite current challenges, the October 2024 CRE market offers prospects for those equipped to navigate a complex environment. For expert guidance tailored to your goals, The Bill Gladstone Group is ready to support you with insights and advice to make informed decisions. Visit our website to explore how our expertise can help you thrive in today’s evolving commercial real estate market. Let us guide you through every step of your real estate journey. 

By Al Bienstock

Disclaimer: I am prejudiced. As a current Hampden Township commissioner, I am very proud of what has been achieved over the past four decades of growth. The success is due to our staff, the people who make our slogan Where People Come First a reality.

Hampden Township in Cumberland County boasts a rich history, a prime geographical location, and a strong infrastructure that is attractive to both residential and commercial developers.

The area has ties dating back to the earliest days of the Commonwealth of Pennsylvania. One township road is named Penn Ayr Road. According to the developer, the original deed holder was William Penn’s son – the Penn heir (ayr). The cornerstone for Historic Peace Church (at the corner of Trindle and St. John’s Church Roads) was laid in 1798, and the building was dedicated on May 19, 1799. The church still operates today. In the same area, the Skirmish of Sporting Hill took place in 1863. It was the northernmost engagement of Robert E. Lee’s Army of Northern Virginia during the Civil War.

Hampden Township was incorporated in 1845. It was largely an agricultural community until the 1960s, when the population began to grow and housing developments sprang up to accommodate the inflow. At that time, the population was under 7,000. Over the next several decades, it was the fastest growing municipality in Cumberland County and is now home to about 30,000 residents.

Residential growth expanded south-to-north in the township, with a mix of low, medium, and higher income developments. Presently, the township is home to more than 100 residential communities. Several new ones are in the planning stages or under construction.

Commercial development occurred mostly in the southern and northern areas along the four major east-west roadways: Simpson Ferry Road, Trindle Road, Carlisle Pike, and Wertzville Road. The township boasts a wide array of commercial enterprises, from large manufacturing facilities (like Ames True Temper and Ralston Purina), to box stores (like Hobby Lobby and Home Depot), to smaller retail stores, restaurants, and professional offices. It is also home to The Patriot-News. Naval Support Activity Mechanicsburg, built during World War II, is situated in Hampden Township and employs several thousand employees, mostly civilians.

Recognizing that Hampden was running out of developable land, the Board worked with a stakeholders’ committee – including residents, businesses, utilities, Naval Support Activity Mechanicsburg, and county, state and federal officials – to find ways to maintain growth, improve infrastructure, and mitigate traffic congestion in the southernmost part of the township, the oldest developed area. The effort resulted in new ordinances providing for zoning and other changes to encourage redevelopment. Those changes are beginning to bear fruit, particularly along the Carlisle Pike.

Residential and commercial growth, along with prudent fiscal management, has been enormously beneficial to the township’s finances. The 2019 budget represents the 42nd consecutive year without a property tax rate increase. In fact, the rate has been lowered several times over that period – it is one of the lowest in the state for a full-service community with its own police department.

Hampden has a great array of parks, recreation areas, and walking/biking trails, including a municipal golf course and a swimming pool – both of which are financially self-sufficient and not supported by tax dollars. The township maintains fields for various sports leagues as well as open areas and playgrounds. Hampden recently provided for pickle ball and bocce courts to accommodate residents’ interests; a water wall was added to the pool; and new playground equipment replaced outdated items. A new park is being constructed along the Conodoguinet Creek on land donated by a resident. A Veterans Recognition Park is under construction in the northern part of the township, with funds raised by the non-profit Hampden Township Veterans Recognition Committee.

In addition to existing biking/walking trails, the township encourages developers to incorporate new trails into their plans. The 102-bed UPMC PinnacleHealth West Shore Hospital (built in 2014 and currently under expansion) has trails, and new trails are part of the designs for the 108-bed Penn State Health Hampden Hospital now under construction and the proposed new Members 1^st corporate headquarters.

The township’s 26-person police department is one of only 116 in the Commonwealth accredited by the Pennsylvania Law Enforcement Accreditation Commission. In addition to traditional patrols and crime-solving, it includes one member assigned to the County Drug Task Force, one to liaison with schools, and one trained to work with the Cumberland County Special Response Team. It operates an annual Citizens Police Academy, to make residents aware of its operations.

Hampden’s Volunteer Fire Company is financially supported by the township through ownership of the fire stations and funding for the fire apparatus. An annual Citizens Fire Academy provides a hands-on course for residents to understand the workings of the fire department and learn about fire prevention.

Emergency Management Services (EMS) is on call around the clock to respond when life and/or health is at risk. Police, fire, and EMS all have mutual aid agreements with surrounding communities to facilitate maximum response to emergencies.

Communities evolve over time. From the historical Revolutionary Era to today’s technological times, the changes here have been incredible. What will it become in the decades and centuries ahead? We can only dream.