2016 was a memorable year for the Philadelphia industrial market. Within the Lee & Associates of Eastern Pennsylvania’s Core Data Set (CDS) , positive net absorption totaled over 17 million square feet across the market, which represented a 47% increase from 2015. Worthy of note in 2016, the Central Pennsylvania (PA) submarket, did not experience the same robust absorption totals quarter over quarter as did the rest of the overall Philadelphia market. However it was…
Monthly Download | Demand Update | March 2017
The movement of consumer goods, food, and freight is the pulse of an industrial market that boasts over 1 billion square feet of industrial space. The Philadelphia industrial market is recognized as one of the largest hubs of logistical real estate in the country. The existing transportation infrastructure of eight interstate highways, eight railroad terminals, four equipment depots and two ocean ports in combination with its geographical position connects this market to the broader Northeast…
Monthly Download | Construction Update | February 2017
Adding 20 million square feet in 2016, the Philadelphia industrial market ended the year with nearly 1.1 billion square feet of inventory. To bring this market into focus, Lee & Associates of Eastern Pennsylvania (LAEP) focuses on our Core Data Set (CDS) — specifically buildings 100,000 SF and greater. We also apply this criteria when tracking development and construction activity across the market.In 2016, Central Pennsylvania and the Lehigh Valley accounted for over half of…
Monthly Download | 2016 Year-End Market Update | January 2017
The Philadelphia industrial market grew another 20 million square feet in 2016, ending the year with nearly 1.1 billion square feet of inventory. Within this massive inventory, Lee & Associates of Eastern Pennsylvania focuses on our Core Data Set (CDS) — specifically buildings 100,000 SF and greater. Our two largest submarkets, Central Pennsylvania and the Lehigh Valley, accounted for over half of the new construction activity in 2016, adding 5 million square feet and 6.8…