4999 Louise Drive, Mechanicsburg, PA 4999 Louise Drive, Mechanicsburg, PA

MECHANICSBURG, PA—Linlo Properties acquired two office buildings totaling 76,972 square feet in the Rossmoyne Business Park, in Mechanicsburg, PA. Members 1st Federal Credit Union has leased back a portion of both buildings as it begins due diligence phases for a new corporate headquarters.

The two office buildings are located at 4999 Louise Drive and 5053 Ritter Road and are 56,494 square feet and 20,478 square feet, respectively.

“Here at Linlo we could not ask for a better acquisition pairing to start 2019,” says Sarah Gates, Linlo portfolio manager. “We continue to see the strength of the Rossmoyne Business Park and feel that these assets complement our existing offering well. We thank Members 1st for the opportunity and for their professionalism throughout the entire deal process.”

Members 1st is exploring the option to consolidate operations into one facility at a new corporate headquarters in Hampden Township, although details have not been finalized.

“We are approaching nearly 70 years of proudly serving members, associates and the community,” says Mike Wilson, chief marketing officer at Members 1st Federal Credit Union. “In addition to significantly expanding our offerings of extremely competitive products and services in the marketplace, we have also grown as an employer of choice. Maintaining the costs associated with multiple buildings is neither efficient, nor conducive to a collaborative organization with nearly 500 associates who serve 400,000 members from our headquarters each day. It has been great to partner with Linlo Properties as we begin the due diligence phases of consolidating into one cohesive, collaborative facility in a fiscally responsible manner.”

5053 Ritter Road, Mechanicsburg, PA 5053 Ritter Road, Mechanicsburg, PA

CBRE first vice president Michael Curran was the sole broker in the transaction, negotiating on behalf of Linlo. The purchase allows Linlo to take ownership of additional office space in Rossmoyne Business Center, while creating flexibility for both parties through a partial leaseback scenario.

“Both parties were able to recognize the potential for a win/win scenario in the transaction,” says Curran, “one that expands Linlo's growing office ownership portfolio, while at the same time providing flexibility to Members 1st in planning for their continued growth.”

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Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].