July, 2020 11:00 AM EST Pennsylvania—Lee & Associates, a national full-service commercial real estate firm, released their Philadelphia Region Industrial Market Q2-2020 report covering warehouse and distribution properties in Eastern Pennsylvania, Southern New Jersey and Delaware. According to Lee & Associates, the Philadelphia Region fared well despite the challenges of operating in a COVID environment, exhibiting strong net absorption and reduced vacancy levels despite 4.8 million square feet of new space deliveries. The majority of…
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…
Monthly Download | Supply Update | April 2017
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 | 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…