Commercial Real Estate Status in York County
On Tuesday, March 12, David Bode of Rock Commercial Real Estate spoke to the York-East Rotary Club about the status of commercial real estate in York and Lancaster counties. The commercial real estate market can be divided into three sectors: office, retail, and industrial. There is more office space available in Lancaster County, but significantly more industrial space in York County. Photo (from left: President Ben Marchant, David Bode, Heather Kreiger, Kevin Hodge)
This is probably due to the fact that York County is closer to major transportation corridors, I-83 and I-81, than Lancaster County. Mr. Bode told us that, in general, the office space market is very tight now with small office space in high demand. Retail space and utilization has been greatly affected by e-commerce. Within the past 5-10 years, once huge retailers such as Sears, Penney’s and K-Mart have lost most of their value as companies and have shut most of their stores. A current challenge is to find new utilization for the space vacated by these retailers.