Philadelphia’s industrial real estate market has emerged as a national leader, ranking third among the 15 largest U.S. industrial markets for sustained rent growth. Over the past five years, industrial rents in the region have risen 57.6%, outpacing the national average of 41.7% and trailing only Phoenix and Atlanta.
This growth stems from high demand during 2021 and 2022, when industrial space availability hit record lows. As demand remains strong, businesses are facing steep rent hikes. For example, a tenant leasing a 25,000-square-foot warehouse at $6 per square foot in 2019 could see annual rent jump from $150,000 to $235,000 if adjusted to current market rates.
Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers. Please visit our website for a full listing of Philadelphia commercial properties for lease or sale through our commercial real estate brokerage firm.
