Thursday, December 12, 2013

Kinsley Properties

Kinsley Properties continues to expand in multiple markets. We are fortunate to have opportunities in the medical, residential apartments, public utility and retail market segments of Maryland and Pennsylvania.

MEDICAL

We completed Waterloo Crossing Building "B" in June 2013 with 31% of the space pre-leased and several other lease inquiries look promising in this two-building medical complex in Columbia, MD.

We have finalized design and site approvals for Building "A," the second and final building for this medical office development. This 14,000 SF building is currently receiving attention from several potential medical users and will start construction when a substantial tenant is signed.

Residential Apartments
New apartment complexes with modern living space and resident amenities continue to be in demand nationwide. Demand is fueled by both the uncertainty of long-term homeownership, and changes in lifestyle in our society. Kinsley Properties is partnering in several apartment projects located in Baltimore, MD that are currently under construction.

We are expanding our development of apartments with two new projects. The construction of Fieldside Village apartments started in August 2013 and is a 200-unit complex in Aberdeen, MD. Sporting Hill, a 196-unit complex, is set to start this fall. Sporting Hill is located off Trindle Road on the western side of Harrisburg, PA.

Both projects will include clubhouses with exercise rooms, outdoor pools, private rooms for residents to use computers/printers, and a gathering space with big screen TVs and a kitchen for residents to hold private parties or just get together to watch the Super Bowl or NASCAR race.

PUBLIC UTILITY
Kinsley Properties was selected by Columbia Gas of Pennsylvania to build and lease their new 30,000 SF York, PA office and service center. After working with Columbia Gas on the analysis of four individual sites over several months, 1600 Colony Drive was selected. The property has an existing 17,000 SF building which will be renovated and expanded to meet the needs of Columbia Gas. The facility will include 24,000 SF of office space, 6,000 SF of warehouse space and a fenced 3.4-acre yard for their construction equipment and material storage. Construction began in October 2013.

RETAIL
Kinsley Properties has recently secured a site to accommodate a major national retailer needing a 90,000 SF store. This new retail center, named North Chambersburg Center, is located on Gateway Drive in Chambersburg, PA. The retail center will include this 90,000 SF free-standing store and four outparcels. The outparcels are suitable for restaurants and other retail uses. This exciting new project started construction in October 2013.

These projects will keep both Kinsley Properties and its contractors busy for the next 18 months. The leasing activity and occupancy levels of our existing projects are stable and we look forward to continued growth of new opportunities.