With interest rates at extremely lows levels and fears of rising inflation heating up, investors have flocked to real estate investment trusts (REITs) as an investment vehicle. Is it wise to do so, what is propelling this move, and what kind of performance should investors expect? This report will explain why there is a surge in demand for REITs and analyze how they are currently performing and how they have performed historically. 1 REITs are…
Philadelphia Region Construction Design Trends
Philadelphia Region Construction Design Trends The numbers above are based on buildings 100,000 SF and up. The information contained in this graphic has been obtained from sources deemed reliable, but no warranty is made as to the accuracy thereof. Certain information is forward-looking in nature and represents estimates of development timing and design, all of which are subject to change. All information is submitted subject to error and omission, as well as a change in…
Philadelphia Region Construction Activity
SPEC construction continued to trend upward as Q1 2018 exceeded the prior year average by 20%. BTS construction sustained a steady rise as Q1 2018 kept pace with the prior year and exceeded 2016 average by 24%. For more information on the construction in the Philadelphia Region contact us today!
Monthly Download | Market Update | October 2017
The PHL region experienced a vacancy decrease to 5.71% at the end of the Q3, which was a new record low for the market. Due largely to some notable built-to-suit deliveries, the market recorded over 4.2 million square feet in positive absorption during the quarter. Total absorption YTD has eclipsed 13.7 million square feet, which is an average quarterly pace of almost 4.6 million square feet. At this pace, the Philadelphia Industrial market could eclipse…
Monthly Download | Demand Update | September 2017
Demand for new, class A space is a major driver for the region’s construction activity. Our Industrial Demand report tracks industrial requirements across our entire market. As of the end of the third quarter, smaller requirements, 500,000 SF or less, outnumber larger requirements by almost two to one. While larger requirements are predominantly focused along the I-81 and I-78 transportation corridor that spans from the eastern edge of the Lehigh Valley to the southern border…
Monthly Download | Construction Update | August 2017
As we near the end of the 3rd Quarter, our industrial market is experiencing 21 million square feet in construction activity, with nearly 3.2 million square feet in new construction starts this quarter alone. The Lehigh Valley and Central Pennsylvania submarkets are leading this activity with 8.8 and 7.3 million square feet of development respectively. The I-81 and Southern New Jersey submarkets are also contributing 2.5 million square feet each of current construction. As of…
Monthly Download | Market Update | July 2017
The Philadelphia Market continued to grow in Q2 2017. Another 4 million SF was delivered to our Core Data Set (CDS), which now boasts over 425 million SF of industrial space across Eastern PA, Southern New Jersey, and Delaware. Our CDS focuses on industrial properties, 100,000 SF or larger, with a current design or adaptability to warehouse and distribution. Construction activity picked up in Q2. 5.8 million SF of speculative construction began in Q2, of…
Monthly Download | Demand Update | June 2017
Lee & Associates of Eastern Pennsylvania (LAEP), seeks to keep its finger on the pulse of our market by tracking our regional industrial requirements via our Industrial Demand report. As prospective tenants survey the market for their logistical solutions, LAEP diligently evaluates these requirements over the course of each quarter. As we near the end of Q2 2017, we are tracking roughly 94 active requirements for industrial space across the Philadelphia regional market. These requirements…
Monthly Download | Construction Update | May 2017
Q1 2017 ended with nearly 13 million square feet under construction. Lehigh Valley remained a leader in driving construction activity, leading the market in both the number of projects and total square footage. With 4.5 million square feet being constructed in seven on-going projects, six which are speculative starts, this spec construction activity will help refuel the submarket inventory that experienced a record breaking 2016. The first of these new deliveries are scheduled for the…