Summer 2018 Real Estate Matters
In This Issue
Solar Array to Power
Courtyard by Marriott - Lancaster .................1
President’s Message ........................................2
Miller’s Ale House Is Coming to
The Crossings at Conestoga Creek .................2
Progress Update -
The Crossings at Conestoga Creek .................3
Change of Leadership at
High Associates Ltd. - Brokerage Services .....5
Greenfield Corporate Center Welcomes
Former White House Chef John Moeller .......5
High Foundation Contributes $100K
to Build Community Service Hub ...................6
LinkedIn: Inside the East Tower,
Lancaster Marriott at Penn Square ................7
From LancasterOnline
High Real Estate Group on Tuesday held a topping-off ceremony for an addition to the Lancaster Marriott at Penn Square, hoisting a symbolic last beam to the roof of the 12-floor, $39 million structure. About 90 company and project executives, local officials and community leaders attended. Before the 10-foot white beam was lifted, it was signed by local dignitaries and project leaders.
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The country's first 100 percent solar-powered Marriott hotel is in Lancaster
From PennLive
High Hotels Ltd. announced today it is installing a $1.5 million solar array that will generate 100 percent of the electrical power required to operate one of its existing hotels in Greenfield Corporate Center.
The completed installation will make the 133-room Courtyard by Marriott-Lancaster at 1931 Hospitality Drive the first Marriott-branded hotel in the United States with 100 percent of its electricity needs generated from solar power.
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Casual sports restaurant and bar to open fall 2018
Miller’s Ale House, a casual sports restaurant and bar, announced that it will join the Main Street retail component of The Crossings at Conestoga Creek. The Florida-based chain will occupy a freestanding location in the Lancaster, Pa. lifestyle shopping center with a footprint of approximately 7,232 square feet.
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First 100% solar-powered Marriott in U.S.
From LancasterOnline
Russ Urban, the president of High Hotels, has long been intrigued by renewable energy sources such as solar power.
But there’s a problem with trying to meet a hotel’s energy needs entirely by using solar power — the typical hotel roof is too small to hold all the solar panels required.
So, to generate enough electricity for its Courtyard by Marriott hotel in the Greenfield Corporate Center, High Hotels will install 2,700 solar panels atop a large industrial building about a third of a mile away.
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From LancasterOnline
High Construction has posted a new aerial video of The Crossings at Conestoga Creek on Harrisburg Pike in Manheim Township.
The $120 million mixed-use development anchored by a Wegmans supermarket will begin opening late this summer.
In addition to the Wegmans, the development will include 20 to 25 other stores and restaurants, 258 upscale apartments and a 127-suite hotel, a Residence Inn by Marriott.
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Spring 2018 Real Estate Matters
In This Issue
Market Fundamentals Remain Strong Across
Most Asset Classes; However, Potential
Headwinds Are on the Horizon Due to
Rising Interest Rates ..............................................1
President’s Message ...............................................2
SpringHill Suites Opens in
Allentown/Bethlehem .........................................2
Update on The Crossings at Conestoga Creek .....3
New Clubhouse Caps Multi-Family Makeover .....4
Bridge to Opportunity ...........................................5
The Reserve at Greenfield Luxury Apartments ....6
Almost all transaction documents have a provision or two requiring a party to exercise an effort to achieve an end. Sometimes the provision requires the party to exercise “best efforts” to do so. Sometimes the effort required is “reasonable efforts.” If the parties to the document are business entities, it is common to see the effort described as “commercially reasonable.” Are these efforts different? Is there an ascending level of these efforts? Does it matter which words are used to describe the efforts?
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High Construction Awarded $21M Contract for Elizabethtown College’s Bowers Center for Sports, Fitness and Well-being
High Construction today announced that it received a $21M contract for Elizabethtown College’s new Bowers Center for Sports, Fitness and Well-being. The new facility will be located on the college’s campus, off East Cedar Street in Elizabethtown, Pa.
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Two High apartment communities are top-ranked by national research firm
Multi-family industry researcher J Turner Research recently awarded two High Associates Ltd. communities its top "Elite" ranking in its Online Reputation Assessment™ (ORA™). The independent firm selected 977 multi-family properties out of 71,000 assessed nationwide for the honor.
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The Crossings at Conestoga Creek progresses toward a fall opening [aerial video]
From LancasterOnline
Construction of The Crossings at Conestoga Creek, a $120 million mixed-use development anchored by a Wegmans supermarket, continues to progress toward a fall opening.
This video taken by the project's general contractor, High Construction, shows what will be the Wegmans plus 20 to 25 other stores and restaurants, 258 upscale apartments and a 127-suite hotel, a Residence Inn by Marriott.
Wegmans said recently that it expects an "early fall" opening. Many of the other stores and restaurants will open about that time, Crossings developer High Real Estate Group has said.
Lancaster C&I Council: And the survey says—
"It's a good time to be a seller," said Mark Fitzgerald, President and COO of High Real Estate Group LLC, presenting to Lancaster's Commercial and Industrial Real Estate Council. With cap rates headed up, deals are getting done, but the time to act is now.
More than 120 professionals from throughout Lancaster County attended the 2018 event at the Lancaster County Convention Center, and were asked by High Associates Senior VP - Brokerage Services Linford Good to crowdsource their views on four key questions ....
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Hotel Highlights Local Craft and Music with “The Art of Local” Theme
The newly opened SpringHill Suites by Marriott marked its official grand opening on February 8th with a ribbon-cutting ceremony followed by a reception, and led property tours to give those in the Allentown Bethlehem/Center Valley community a glimpse of what the new hotel has to offer.
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Residential building among first for construction along The Waterfront
From Lebanon Valley Business Journal
High Construction Company is making a bigger impact in the Lehigh Valley.
The developers behind The Waterfront, a massive development along the banks of the Lehigh River in Allentown, plan to start construction on the first building on July 1.
High Construction Raises More Than $52,000 for Children’s Miracle Network
High Construction Company raised more than $52,000 at its charity golf invitational to benefit Children’s Miracle Network and Penn State Children’s Hospital.
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Five Reasons to Buy Commercial Real Estate
Investors often think about buying commercial real estate for cash flow, with the difference between the rental income, operating expenses, and the mortgage payment resulting in income. But what if your primary motivation is to grow your business operations in a new location?
If you have read Five Reasons to Lease Commercial Real Estate you may have already started asking questions about the real estate solution that best fits your needs. Here’s why you should consider keeping the option to buy on the table until you have consulted your real estate professional.
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Apprenticeships: Winter 2018 Real Estate Matters
Our Award-Winning Newsletter
In This Issue:
High Hotels Ltd. Pilots State’s First
Hospitality Apprenticeships ............................... 1
A Catalyst for Bringing People Together............. 2
President’s Message............................................... 2
A New Breed of Luxury Apartments.................... 3
Grand Opening of The Reserve at Greenfield..... 3
What It’s Worth:
Commercial Real Estate Appraisals..................... 4
High Hotels Ltd. Opens SpringHill Suites
in Mt. Laurel, N.J.................................................. 6
High Hotels opens $20M hotel in Lehigh Valley
Lancaster County-based High Hotels Ltd. has opened a new hotel in the Lehigh Valley.
An affiliate of High Real Estate Group LLC, which is part of High Companies, High Hotels owned a SpringHill Suites by Marriott in Upper Saucon Township, Lehigh County.
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High Standards | Leisure and Hospitality International
High Hotels Ltd. aims to become an industry leader by leading the charge for innovation.
High Hotels Ltd. is an affiliate of High Real Estate Group LLC and part of the High companies - a multi-faceted group of businesses with a longstanding tradition for quality products and services since its founding more than 80 years ago.
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