Philadelphia’s industrial real estate market has emerged as a national leader, ranking third among the 15 largest U.S. industrial markets for sustained rent growth. Over the past five years, industrial rents in the region have risen 57.6%, outpacing the national average of 41.7% and trailing only Phoenix and Atlanta. This growth stems from high demand… Read more »
Veho, a delivery firm serving e-commerce companies, has leased 148,611 square feet at 4501 Richmond St. in Philadelphia. The one-story distribution center, part of Bridge Point Industrial Park, was completed in April and is owned by Bridge Industrial, which acquired the site in 2022 for $24 million after environmental remediation. Previously, the property was used… Read more »
For the first time in two years, the industrial vacancy rate in the Philadelphia region has declined, dropping from 7% to 6.5% in the third quarter, per Colliers. This shift reflects increased tenant demand, particularly from third-party logistics companies, many based in Asia, that were previously priced out of the Northeast. These companies accounted for… Read more »
The Harrisburg industrial real estate market reached a record $740.6 million in sales in 2024, more than double last year’s total of $328.1 million. This growth caps a decade of steady expansion, solidifying the region as a key Northeast distribution hub. Over the past ten years, annual industrial sales have averaged over $330 million, significantly… Read more »
Veho, a third-party logistics company specializing in last-mile delivery, has leased a 148,611-square-foot industrial building at 4501 Richmond St. in Northeast Philadelphia. This deal marks the first lease in the local portfolio of Chicago-based developer Bridge Industrial, which also completed an adjacent 741,701-square-foot facility. Both buildings, located in the Bridesburg neighborhood along the Delaware River… Read more »
Philadelphia-based Alterra Property Group has expanded its industrial outdoor storage (IOS) portfolio in Charlotte, North Carolina, with the recent acquisition of a 5.4-acre site at 309 Morningside Road for $3.25 million, according to Mecklenburg County records. The property, purchased from Miaco Properties LLC, includes a 10,000-square-foot industrial building and is leased by The Loving Group,… Read more »
In contrast to national trends, Philadelphia’s industrial development has rebounded significantly in recent quarters. After hitting a three-year low at the end of 2023, the region’s active industrial construction pipeline has surged by 28%. As of Q3 2024, over 17.3 million square feet across 55 industrial buildings are under construction in the Philadelphia metropolitan area,… Read more »
Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 2091 Springdale Road, Unit 17, Cherry Hill, New Jersey 08003. The Cherry Hill unit is available for lease. The unit holds +/- 3,655 square feet that could be utilized by flex/industrial users…. 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 »
The structures at 8800 Tinicum Blvd. will be replaced by a one-story distribution center, according to a zoning permit. The new facility will include two loading spaces, 618 parking spaces, and 48 bicycle spaces. PNC, the site’s former tenant, relocated its offices to 1600 Market St. in April, a company spokesman confirmed to Bisnow on… Read more »
