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SVN | MILLER COMMERCIAL REAL ESTATE | 206 E. MAIN STREET, SALISBURY, MD 21801 LEASE BROCHURE
200 E VINE STREETSALISBURY, MD 21801
Bradley Gillis, CCIMSenior [email protected]
Joey GilkersonSenior [email protected]
OFFERING SUMMARY
Available SF: 2,500 - 8,500 SF
Lease Rate: $16.50 SF/yr (NNN)
Lot Size: 1.06 Acres
Year Built: 2019 (renovated)
Building Size: 12,595 SF
Market: Eastern Shore of
Maryland
Submarket: Salisbury
Traffic Count: 33,172
Join CoreLife! 2,500-8,500 SF of redeveloped medical/professional office space available. Custom build out and finish.New façade coming soon! PRMC is located across the street. PRMC was 1 of just 9 hospitals in Maryland to receive theHealthgrades Distinguished Hospital Award for Clinical Excellence, and the sole recipient on the Eastern Shore ofMaryland. It is also 1 of only 4 hospitals in Maryland to receive a five-star rating by the Centers for Medicare and MedicaidServices. Visible from Route 13. Located at lighted intersection. Neighbors EVO brewery.
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS
• 2,500-8,500 SF Redeveloped Medical/Professional Office Space
• Custom Build Out and Finish
• Visible from Route 13
• Across from PRMC
• Lighted Intersection
Property Summary
200 E VINE STREET SALISBURY, MD 21801 SVN | Miller Commercial Real Estate | Page 2The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
200 E VINE STREET SALISBURY, MD 21801 SVN | Miller Commercial Real Estate | Page 3The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Aerial
200 E VINE STREET SALISBURY, MD 21801 SVN | Miller Commercial Real Estate | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Existing Building
200 E VINE STREET SALISBURY, MD 21801 SVN | Miller Commercial Real Estate | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Rendering Sketch
200 E VINE STREET SALISBURY, MD 21801 SVN | Miller Commercial Real Estate | Page 6The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Map
With its strategic location along the East Coast and situated at the crossroads of Maryland’s Lower Eastern Shore, Wicomico County serves as a hub for commerce, industry, health care, education and transportation. Situated halfway between the Atlantic Ocean and the Chesapeake Bay, cultural, recreational and civic amenities add to the lure of Wicomico, offering citizens a lifestyle second to none.
Wicomico is the number two agricultural producing county in Maryland, and ranks third in broiler chicken production. Popular crops include corn, soybeans, wheat and vegetables. In addition to agriculture and poultry, health care, educational sectors and a diverse industrial base offer stability and a firm foundation for Wicomico’s economy. Jubilant Cadista Pharmaceuticals recently announced the addition of 200 new jobs associated with the expansion of its Salisbury headquarters and manufacturing facility.
Wicomico’s 2,500 businesses employ 37,200 workers; 50 of these businesses have 100 or more workers. Major employers are Chesapeake Shipbuilding, Delmarva Power, Jubilant Cadista Pharmaceuticals, K&L Microwave, Peninsula Regional Medical Center, Perdue Farms, Salisbury University and Tishcon.
Wicomico County has a 5,223-acre State Enterprise Zone in Salisbury and a 129-acre zone in Fruitland.
Washington, DC
New York
Salisbury
Washington, DC
Baltimore
Wicomico County, on Maryland’s Eastern Shore, borders the Chesapeake Bay on the west and Delaware on the north.
LOCATIONDriving distance from Salisbury: Miles Kilometers
Atlanta, Georgia 692 1,114Baltimore, Maryland 102 165Boston, Massachusetts 430 692Chicago, Illinois 793 1,276New York, New York 219 353Philadelphia, Pennsylvania 131 210Pittsburgh, Pennsylvania 324 521Richmond, Virginia 212 341Washington, DC 114 183
CLIMATE AND GEOGRAPHY1
Yearly Precipitation (inches) 45.2Yearly Snowfall (inches) 6.0Summer Temperature (ºF) 76.1Winter Temperature (ºF) 38.7Days Below Freezing 76.0Land Area (square miles) 379.1Water Area (square miles) 14.4Shoreline (miles) 361Elevation (feet) sea level to 73
POPULATION2,3
Wicomico County Lower Households Population Eastern Shore* Maryland
2000 32,218 84,644 155,934 5,296,4862010 37,220 98,733 176,657 5,773,5522020** 40,688 106,200 186,050 6,141,900
*Somerset, Wicomico and Worcester counties**Projections
Selected places population (2010): Salisbury 30,343; Fruitland 4,866; Delmar 3,003; Pittsville 1,417; Hebron 1,084
POPULATION DISTRIBUTION2,3 (2017)Age Number Percent
Under 5 6,225 6.05 - 19 21,683 21.120 - 44 33,780 32.845 - 64 25,404 24.765 and over 15,831 15.4Total 102,923 100.0Median age 35.9 years
2018.2
Brief Economic FactsW I C O M I C O C O U N T Y , M A R Y L A N D
LABOR AVAILABILITY3,4,5 (BY PLACE OF RESIDENCE) Labor Mkt.Civilian Labor Force (2017 avg.) County Area* Total civilian labor force 51,488 189,552 Employment 48,566 179,096 Unemployment 2,922 10,456 Unemployment rate 5.7% 5.5%Residents commuting outside the Number Percent county to work (2012-2016) 12,104 25.3%Employment in selected occupations (2012-2016) Management, business, science and arts 16,366 33.3% Service 10,155 20.7% Sales and office 11,887 24.2% Production, transp. and material moving 6,220 12.7%* Wicomico, Somerset and Worcester counties, MD and Sussex County, DE
MAJOR EMPLOYERS6,7 (2017*)Employer Product/Service Employment
Peninsula Regional Medical Center
Medical services 2,900
Salisbury University Higher education 1,845Perdue Farms HQ / poultry processing 1,500Wor-Wic Community College
Higher education 450
Jubilant Cadista Pharmaceutical
Generic pharmaceuticals 340
Genesis HealthCare / Salisbury Rehabilitation and Nursing Center
Nursing care 340
Delmarva Power Energy products and services
300
K&L Microwave Electronics assembly 265Dove Pointe Services for the disabled 250SHORE UP! Social services 250Three Lower Counties Social services 250BBSI Staffing services 250Piedmont / American Airlines
HQ / airline 220
Pepsi-Cola Bottling Beverages 200Delaware Elevator HQ / elevator installation 170Chesapeake Shipbuilding Shipbuilding / naval
architecture165
Tishcon Supplements 165Verizon Telecommunications 160Excludes post offices, state and local governments, national retail and national foodservice; includes higher education * Revised
EMPLOYMENT4 (2017, BY PLACE OF WORK) Estab- Annual Avg. Emp. Avg. Wkly.Industry lishments Empl. % Wage
Federal government 27 281 0.6 $1,227State government 13 2,749 6.1 865Local government 48 4,885 10.8 809Private sector 2,497 37,193 82.5 839 Natural resources and 27 299 0.7 667 mining Construction 274 2,072 4.6 943 Manufacturing 97 2,940 6.5 882 Trade, transportation 597 9,670 21.4 746 and utilities Information 22 476 1.1 1,168 Financial activities 250 1,841 4.1 970 Professional and business 423 4,357 9.7 1,320 services Education and health 326 9,028 20.0 971 services Leisure and hospitality 238 4,737 10.5 308 Other services 239 1,772 3.9 515Total 2,585 45,109 100.0 839 Includes civilian employment only
HOURLY WAGE RATES4 (2017)Selected Occupations Median Entry Experienced
Accountants $27.88 $18.07 $34.41Bookkeeping/accounting clerks 16.07 11.54 19.56Computer user support specialists 20.82 11.06 26.02Customer service representatives 14.05 10.61 17.84Electronics engineering technicians 27.60 18.53 35.21Freight, stock and material 11.76 10.24 14.05 movers, hand Industrial truck operators 20.90 13.87 27.43Inspectors, testers, sorters 12.90 10.14 16.43Maintenance and repair workers, 16.02 11.21 20.03 generalNetwork administrators 35.82 27.71 48.80Packaging and filling machine 13.57 11.44 15.65 operatorsPackers and packagers, hand 9.85 9.28 11.09Secretaries 16.26 11.67 18.73Shipping/receiving clerks 13.38 10.87 15.45Team assemblers 12.66 10.07 15.07Telemarketers 14.27 11.57 21.11Wages are an estimate of what workers might expect to receive on the Lower Eastern Shore (Somerset, Wicomico and Worcester counties) and may vary by industry, employer and locality
WICOMICO COUNTY, MARYLANDBrief Economic Facts
SCHOOLS AND COLLEGES3,8 Educational Attainment - age 25 & over (2012-2016)
High school graduate or higher 88.6% Bachelor’s degree or higher 27.4%Public Schools Number: 15 elementary; 5 middle/combined; 3 high Enrollment: 14,953 (Sept. 2017) Cost per pupil: $13,358 (2016-2017) Students per teacher: 13.0 (Oct. 2017) High school career / tech enrollment: 1,057 (2017) High school graduates: 934 (July 2017)Nonpublic Schools Number: 17 (Sept. 2017)Higher Education (2017) Enrollment Degrees2-year institution Wor-Wic Community College 3,106 3974-year institution Salisbury University 8,714 2,399The University of Maryland Eastern Shore is located in neighboring Somerset County, and the recently accredited University of Maryland Center for Environmental Science is based in Dorchester County.
TAX RATES9
Wicomico Co. Maryland
Corporate Income Tax (2018) none 8.25% Base – federal taxable incomePersonal Income Tax (2018) 3.20% 2.0%-5.75% * Base – federal adjusted gross income
*Graduated rate peaking at 5.75% on taxable income over $300,000
Sales & Use Tax (2018) none 6.0% Exempt – sales for resale; manufacturer’s purchase of raw materials;
manufacturing machinery and equipment; purchases of materials and equipment used in R&D and testing of finished products; purchases of computer programs for reproduction or incorporation into another computer program for resale
Real Property Tax (FY 19) $0.9398 $0.112 Effective rate per $100 of assessed value In an incorporated area a municipal rate will also apply
Business Personal Property Tax (FY 19) $2.1715 none Rate per $100 of depreciated value Exempt – manufacturing and R&D machinery, equipment, materials
and supplies; manufacturing, R&D and warehousing inventory In an incorporated area a municipal rate will also apply; municipal
exemptions may be available
Major Tax Credits AvailableOne Maryland, Enterprise Zone, Job Creation, More Jobs for Marylanders (Tier 1), R&D, Biotechnology and Cybersecurity Investment, Arts & Entertainment District
BUSINESS AND INDUSTRIAL PROPERTY6
Industrial sites in the county range from one to 300 acres. Northwood Industrial Park in the Salisbury area has a total of 350 acres with 50 acres available. Air Business Center (ABC) has sites with direct runway access for air-related business uses. Long-term land leases are available.Fruitland Industrial Park has a total of 110 acres with municipal services and rail access.Westwood Commerce Park, at the intersection of U.S. Route 50 and the Salisbury Bypass, offers 260 acres served by Salisbury city water and sewer, as well as natural gas and high-speed voice and data lines.Salisbury Airport Incubator provides below market lease rates with flexible terms to technology-oriented firms.Business IncubatorSalisbury Airport Incubator, Salisbury
Market Profile Data (2017) Low High AverageLand – cost per acre Industrial $17,000 $125,000 $40,000 Office $22,000 $250,000 $60,000Rental Rates – per square foot Warehouse / Industrial $2.00 $7.00 $4.50 Flex / R&D / Technology $5.00 $14.00 $9.50 Class A Office $6.50 $15.00 $11.00
HOUSING2,3,10 Occupied Units (2012-2016) 37,170 (61.6% owner occupied) Median Housing Transactions Units Selling Price All arms-length transactions (2016) 956 $163,000 All multiple-listed properties (2017)* 1,044 $144,505*Excludes auctions and FSBO
INCOME3 (2012-2016) Percent HouseholdsDistribution Wicomico Co. Maryland U.S.
Under $25,000 22.4 14.9 22.3$25,000 - $49,999 24.8 17.6 23.1$50,000 - $74,999 18.8 16.9 17.8$75,000 - $99,999 12.9 13.3 12.2$100,000 - $149,999 13.5 18.4 13.5$150,000 - $199,999 4.7 9.2 5.4$200,000 and over 2.9 9.7 5.7Median household $53,508 $76,067 $55,322Average household $69,617 $100,071 $77,866Per capita $26,498 $37,756 $29,829Total income (millions) $2,588 $217,904 $9,166,046
WICOMICO COUNTY, MARYLANDBrief Economic Facts
TRANSPORTATIONHighways: U.S. 13 and U.S. 50Rail: Norfolk Southern Railway Truck: More than 70 local and long-distance trucking establishments are located on the Lower Eastern Shore Water: Wicomico River, 14 ft. channel at Salisbury; Port of Salisbury is the second largest in Maryland; also served by the Port of Baltimore, 50’ channel; a leading U.S. automobile and break-bulk port; seven public terminals including the state-of-the-art Intermodal Container Transfer FacilityAir: The Salisbury-Ocean City Wicomico Regional Airport, 4.5 miles east of Salisbury, offers runway lengths of 5000’ and 6400’, a full instrument landing service (ILS), aviation fuel, charter service, and an industrial park with runway access; commercial passenger service provided by American Airlines to Philadelphia and Charlotte; airport is home to numerous corporate clients, a small business incubator and a FedEx distribution center; UPS has a regional distribution center in Salisbury
RECREATION AND CULTUREParks and Recreation: Five state parks provide camping and natural beauty; other activities include swimming, fishing–including deep sea fishing–boating, golfing, skeet, trap and silhouette shooting, hiking, biking, canoeing, bird watching, and country and yacht club activitiesSports: Collegiate athletic events, tennis and professional golf tournaments; horse racing (trotting) at Ocean Downs; a Hunt Club/Pony Club; Wicomico County is home to the Delmarva Shorebirds, a Class A minor league affiliate of the Baltimore OriolesCultural: Summer band, big band, and rock music concerts; national country western shows; the Salisbury Symphony; dinner theater plays; a Council of Arts serves the area, as does the largest civic center on the Delmarva PeninsulaArts & Entertainment District: SalisburyAttractions: Ward Museum of Wildfowl Art, antique auto clubs and shows, and a first-class zooEvents: Salisbury Festival, Pork in the Park, Autumn Wine Festival, Good Beer Festival celebrating craft beers, World Wildfowl Carving Show, and tours of historic homes
GOVERNMENT11
County Seat: SalisburyGovernment: County executive; seven council members (two elected at large and five from districts) for four-year terms; charter form of government allows for the separation of the executive from the legislative branch; lawmaking powers are vested in an elected legislative body Robert L. Culver, Jr., County Executive 410.548.4801 John T. Cannon, President, County Council 410.548.4696Website: www.wicomicocounty.org County Bond Rating: AA+ (S&P); Aa2 (Moody’s); AA (Fitch)
Salisbury-Wicomico Economic Development, Inc.David Ryan, Executive Director One Plaza East, Suite 501 • P. O. Box 4700 Salisbury, Maryland 21803 Telephone: 410.749.1251 Email: [email protected] www.swed.org
Sources: 1 National Oceanic and Atmospheric Administration (1981-2010 normals);
Maryland Geological Survey 2 Maryland Department of Planning 3 U.S. Bureau of the Census 4 Maryland Department of Labor, Licensing and Regulation, Office of Workforce
Information and Performance5 U.S. Bureau of Labor Statistics6 Salisbury-Wicomico Economic Development, Inc.7 Maryland Department of Commerce8 Maryland State Department of Education; Maryland Higher Education
Commission9 Maryland State Department of Assessments and Taxation; Comptroller of the
Treasury10 Maryland Association of Realtors 11 Maryland State Archives; Maryland Association of Counties
UTILITIESElectricity: Delmarva Power and Choptank Electric Cooperative, Inc.; customers of investor-owned utilities and major cooperatives may choose their electric supplierGas: Natural gas supplied by Chesapeake Utilities Corporation; customers may choose their gas supplierWater: Municipal systems in Delmar, Fruitland, Hebron, Pitts-ville, Salisbury, Sharptown and WillardsSewer: Municipal systems in Delmar, Fruitland, Hebron, Pitts-ville, Salisbury, Sharptown, Willards and Air Business Center Telecommunications: Predominant local carrier - Verizon Maryland; long distance carriers - AT&T, Verizon, Sprint Nextel and others; AT&T, Verizon and Sprint PoPs are located in Salisbury
WICOMICO COUNTY, MARYLANDBrief Economic Facts
200 E VINE STREET SALISBURY, MD 21801 SVN | Miller Commercial Real Estate | Page 11The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Location Maps
200 E VINE STREET SALISBURY, MD 21801 SVN | Miller Commercial Real Estate | Page 12The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
POPULATION 5 MILES 10 MILES 20 MILES
Total population 76,654 111,253 193,320
Median age 33.3 34.5 36.2
Median age (Male) 31.8 33.0 34.9
Median age (Female) 34.2 35.4 37.2
HOUSEHOLDS & INCOME 5 MILES 10 MILES 20 MILES
Total households 28,663 41,057 69,899
# of persons per HH 2.7 2.7 2.8
Average HH income $62,035 $64,143 $63,163
Average house value $208,091 $214,258 $222,253
* Demographic data derived from 2010 US Census
Demographics Map
206 E. Main StreetSalisbury, MD 21801T 410.543.5115C [email protected]
PROFESSIONAL BACKGROUND
Mr. Gillis is a Principal with Gillis Gilkerson and is a Senior Advisor for SVN–Miller Commercial Real Estate. Bradleyspecializes in adding value to commercial real estate. Gillis has a history of sales and leases of Medical/ProfessionalOffice, Industrial and Investment Properties on the Eastern Shore of Maryland and Delaware. Starting his commercialreal estate career in 2004, Gillis has secured well over 300 transactions resulting in a career volume in excess of $300million. Notable clients that Gillis has worked with include Peninsula Regional Medical Center, Nanticoke MemorialHospital, University of Maryland Medical System, Walgreens, CVS, Zoetis and Safran. Active in his community, Gillis isPast President of the Salisbury Area Chamber of Commerce, and the youngest ever to serve as President. Gillis is amember of the Salisbury Wicomico Economic Development, Greater Salisbury Committee, the Wicomico County Youthand Civic Center Commission, and, in addition serves on the Career Advisory Board for Salisbury University. He holds theindustry’s most prestigious designation, Certified Commercial Investment Member (CCIM). Bradley earned a bachelor’sdegree in Business Administration from Hawaii Pacific University in Honolulu, HI. Mr. Gillis lives in Salisbury, MD with hiswife Kim and sons Jackson and Beau.
BRADLEY GILLIS, CCIM
Senior Advisor
200 E VINE STREET SALISBURY, MD 21801 SVN | Miller Commercial Real Estate | Page 13The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Advisor Bio & Contact
206 E. Main StreetSalisbury, MD 21801T 410.543.5115C [email protected]
PROFESSIONAL BACKGROUND
Mr. Gilkerson is a Principal with Gillis Gilkerson and an Advisor for SVN-Miller Commercial Real Estate; he has beeninvolved in the real estate industry for a decade. Joey has participated in over one hundred commercial real estatetransactions since the inception of his career. Gilkerson specializes in Tenant and Buyer Representation for Office andIndustrial users of Real Estate in Delaware and Maryland’s Eastern Shore. In addition to brokerage activities, Joey leadsthe Accounting, Tenant Retention and Portfolio Management efforts on behalf of the Gillis Gilkerson team. Joey is acommunity advocate with a passion for philanthropy; he is active on several downtown-related committees and boardsand Wor-Wic Community College’s Foundation Board. Formerly, Gilkerson has served on the board for Habitat forHumanity as chair of the site selection committee in Wicomico County, and the Chair for the Young Professionals of theSalisbury Area Chamber of Commerce. Mr. Gilkerson is a graduate of Salisbury University and lives in Salisbury, Marylandwith his wife Lauren and their son Roman.
JOEY GILKERSON
Senior Advisor
200 E VINE STREET SALISBURY, MD 21801 SVN | Miller Commercial Real Estate | Page 14The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Advisor Bio & Contact