Philadelphia’s industrial real estate sector is facing one of its steepest slowdowns in over a decade, with demand hitting multi-year lows. Uncertainty surrounding trade policies announced earlier this year has led many logistics and manufacturing firms to delay expansion plans and reassess supply chain strategies.
By the close of the third quarter, industrial absorption had dropped to -213,000 square feet—well below the three-year average of 5.1 million square feet per quarter. At the same time, 12.9 million square feet of new space was delivered to the market, pushing vacancy up to 9%, a 1.8% increase compared to the prior year.
Wolf Commercial Real Estate (WCRE), is a leading New Jersey, Pennsylvania, and New York commercial real estate brokerage, advisory and property management firm that specializes in healthcare, office, retail, land, industrial, and investment properties. For more information about New York health care, industrial, retail, office, land or other commercial properties, please call 856-857-6300 or send an email to info@wolfcre.com.
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