415 West 3rd Street

Williamsport has seen 19 industrial sales within the past year. That was largely in line with the average deal flow in the market over the last five-year period. Annual sales volume has averaged $20.6 million over the past five years, and the 12-month high in investment volume hit $58.1 million over that stretch. In the past 12 months specifically, $31.9 million worth of industrial assets sold. Logistics facilities drove recent sales volume, accounting for $17.1 million in confirmed transactions. The market price, which is based on the price movement of every industrial property in the market, regardless of the sector, sat at $60/SF during the first quarter of 2023. That figure is up over this time last year. Industrial rents in the Williamsport market were rising at a 7.4% annual rate during the first quarter of 2023 and have posted an average annual gain of 7.5% over the past three years. While 180,000 SF has delivered over the past three years (a cumulative inventory expansion of 1.0%), nothing is currently underway. Vacancies in the metro were somewhat below the 10-year average as of 2023Q1, and trended down over the past four quarters. Nonfarm payrolls were recently increasing at an annual rate of 2.2%, a gain of about 1,100 jobs, and the metro’s strongest rate of job creation in over a year.SCOPE Commercial Real Estate Services, LLC “SCOPE” is pleased to exclusively present Supply Source Inc. located at 415 W 3rd Street, Williamsport, PA 17701. The 60,000 square foot offering is a single tenant net lease flex warehouse building with a Class A office fit out situated on 0.91 Acres. Ideally located in the Williamsport Business District, the subject property is centrally located less than 1 mile from I-180 and US-15, providing convenient access to the Williamsport area and surrounding submarkets. The subject property is the corporate headquarters of Supply Source Inc., the largest contract office furniture supplier to the Commonwealth of Pennsylvania, and rapidly expanding. Supply Source has shown their commitment to the site by recently signing a new 10 year lease including 3% annual increases and three (3) five (5) year options to extend, as well as, through a number of large improvements, including an 8,000 SF premium office buildout. With a recently extended absolute NNN lease and options, this single tenant offering provides investors with predictable cash flow and ease of ownership.