Q4 2022 Industrial Market Update
Overall, the Philadelphia Region continues to be one of the strongest markets in the country. Vacancy increased 80 bps to 3.24%, reflecting a combination of new Construction Deliveries (15.3 MSF), Net Absorption (10.3 MSF), and some newly vacant second-generation space (836,000 SF). Rolling Construction levels are off 10% for the 2nd straight quarter, down 10.9 MSF from their Q2’22 peak; as it stands roughly 80% of the 45.2 MSF underway is not committed. Given a trailing Net Absorption figure averaging 9.3 MSF per quarter, the current pipeline represents a m/l a one year supply of space. High level that shouldn’t concern portfolio-level owners much – even if leasing Demand and Net Absorption taper dramatically, it seems unlikely the market as
a whole will approach structural vacancy levels in 2023.
Central PA led the way across the big four submarket clusters booking the highest Net Absorption and lowest Vacancy Rate for the second straight quarter. Steady Demand, rent growth, and overall strong fundamentals persist there, as well as in the Lehigh Valley and Southern New Jersey. Northeast PA remains a bit of an enigma – Demand and Vacancy levels are encouraging, but 2022 Net Absorption was off relative to the 3Y trailing average, Construction activity is relatively high, and the Development Pipeline is outsized in comparison to the other markets.
Commercial Warehouses for Sale in Pennsylvania
The Philadelphia Region offers a wide range of vacant and occupied warehouses for sale or lease. Finding the right size warehouse or manufacturing facility to fit your needs within proximity to the labor force needed to run your operation is just one of the assets we look at during due diligence.
We save you time while you can feel confident that our experienced agents know how to find the best industrial warehouse for your needs.
Industrial Property Asset Management Services
Lee & Associates of Eastern Pennsylvania LLC offers top-notch Asset Management services for when you purchase your industrial real estate property.
Industrial Business Parks for Sale in Pennsylvania
If your goal is to own or lease industrial space within a business park, we can help you identify the top locations and benefits of each opportunity. Tax Incentives, neighboring businesses, and infrastructure supporting each park are just the start of finding the right fit for your business needs in Pennsylvania, and beyond.
We will assist you in identifying the needs and wants of your business location, financials, labor and more.
Cold Storage Property For Sale
Our properties include cold storage facilities for sale or lease. The unique attributes of these properties set them apart from other industrial assets in Pennsylvania.
We can advise you on the advantages and disadvantages of the property and potential upsides to buying vs. leasing. We understand cold storage and can identify any potential pitfalls for the property.
Lee & Associates of Eastern Pennsylvania LLC can help you find industrial buildings for sale or lease industrial real estate in Pennsylvania or sell the one you have now. Our skilled team knows the area and stays on top of new properties that become available. We keep in mind the most essential elements of real estate as we search on your behalf, and we use proven strategies to help you purchase, lease, or sell an industrial space, such as:
- Making personal sales calls.
- Engaging in strategic planning.
- Offering ongoing reporting on how properties are positioned.
- Preparing marketing materials.
Working together, we can identify commercial industrial real estate for sale where your business can grow and thrive. Trust the experienced team at Lee & Associates of Eastern Pennsylvania LLC to guide you through the process and help your organization thrive in your new location.
View Our Available Industrial Properties and Warehouses for Sale or Lease in PA
Take a look at our industrial properties for sale in Pennsylvania and the surrounding mid-Atlantic region. Contact us today to learn more. We look forward to assisting you.