Demand has surged in Pennsylvania’s top industrial markets, leading to a wave of new development. Last year saw a record number of completions, adding over 110 million square feet of industrial space in the past four years across Philadelphia, Lehigh Valley, the I-81 Corridor, Harrisburg, and York.
Philadelphia, the ninth largest U.S. industrial market, experienced the most significant growth, with over 250 new buildings totaling 63 million square feet. After accounting for 14.2 million square feet of demolitions, Philadelphia’s net inventory gain since Q1 2020 is 48.8 million square feet, an 8.5% increase. Half of this new space is concentrated in Burlington, Gloucester, Camden, and Salem counties in southern New Jersey, where supply-driven vacancy rates have been rising.
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.
