Following a period of rapid industrial development, the Philadelphia region is now seeing a much-needed slowdown in construction activity. This easing has allowed demand to begin catching up with the influx of supply, helping to reduce vacancy rates across the metro area. Since 2020, developers have delivered over 57 million square feet of industrial space… Read more »
Philadelphia’s industrial boom is winding down after a record-breaking five years that added 55 million square feet to the region’s inventory. As of March, 12.4 million square feet remain under construction, a 52% drop from the early 2023 peak. This slowdown follows a national trend driven by rising vacancies. Half of the 32 million square… Read more »
Amid a backlog of unleased speculative warehouse developments and rising interest rates, construction in Philadelphia’s industrial market has slowed. However, with a proposed pipeline exceeding 75 million square feet across 250 buildings, developers remain optimistic about strong pent-up demand and expect a quick rebound once market conditions improve. Over the past three years, the Philadelphia… Read more »
