Rent growth across Philadelphia’s commercial properties has exhibited a roller-coaster-like trajectory since the onset of the pandemic, which saw numerous new rent records in recent years. While the region’s overall rent performance has since normalized toward pre-pandemic levels in recent quarters, the industrial sector in Philadelphia stands out as an exception with its annual rent gains remaining stubbornly elevated.
Industrial rent growth in Philadelphia has been impressive, exceeding the rates of increase for the multifamily, retail and office sectors, even in the years before the pandemic. Industrial properties averaged an annual growth rate of 5% between 2015 and 2019, well above the growth rates for multifamily at 2.6%, retail at 2% and office at 3.3% annual average increases.
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 Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia 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 Philadelphia commercial real estate brokerage firm.
