Industrial property values in Pennsylvania’s eight largest markets rose 6.9% to 15.7% over the past three years.
Lancaster saw the biggest jump at 15.7%. Limited new construction and strong demand for warehouse space drove prices higher. Developers added just 3 million square feet of space, a 3.3% increase in supply—about half the growth rate of Philadelphia (7.2%) and Lehigh Valley (7%).
York ranked second with a 13.6% gain. Its lower building costs and prime location between Philadelphia and Baltimore attracted both businesses and investors.
Philadelphia placed third at 12.7%. Much of that growth came from sales in Burlington County, NJ, a key logistics hub for the region.
The results show how smaller markets like Lancaster and York are gaining ground, boosting their role in Pennsylvania’s industrial real estate landscape.
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