The Philadelphia industrial real estate market ended the second quarter of 2017 with a vacancy rate of 5.9 percent.

The vacancy rate was up over the previous quarter, with net absorption totaling positive 1,782,519 square feet in the second quarter. That compares to positive 9,931,174 square feet in the first quarter 2017. Vacant sublease space in the Philadelphia commercial real estate market increased in the quarter, ending the quarter at 1,193,014 square feet.

This report on national and Philadelphia industrial commercial properties is being made through Philadelphia commercial real estate broker Wolf Commercial Real Estate, a Philadelphia commercial real estate brokerage firm.

The flex building market recorded net absorption of positive 428,315 square feet while the warehouse building market consisting of Philadelphia commercial real estate properties recorded net absorption of positive 1,354,204 square feet in the second quarter 2017.

Tenants moving into large blocks of space that were among 2017 Philadelphia industrial commercial real estate listings include: Uline moving into 1,070,000 square feet at Liberty Business Center III – Building 1, Mattel moving into 1,002,000 square feet at 575 Old Forge Road, and PepsiCo moving into 502,754 square feet at 545 Oak Hill Road.

Rental rates in the commercial real estate market of Philly industrial space ended the second quarter at $4.84, a decrease over the previous quarter.

A total of 14 buildings added to the Philadelphia industrial commercial real estate listings in the quarter totaling 5,075,807 square feet, with 15,226,755 square feet still under construction at the end of the quarter.

For more information about Philly industrial space or other Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) or Lee Fein (lee.fein@wolfcre.com) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in Philly industrial space.

Wolf Commercial Real Estate is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking new Philly industrial space with the Philadelphia commercial properties that best meets their needs.

As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for Philly industrial space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.