With a fresh round of stimulus checks hitting households’ bank accounts, retail spending surging and consumers still gravitating towards online shopping as a means of social distancing, the economic backdrop could hardly be more supportive of the burgeoning distribution sector. Even as the volume of distribution centers under construction has skyrocketed by 70% in the Philadelphia… Read more »
The industrial property sector’s lengthy run of historically strong demand and rent gains might work against it a bit as the market proceeds through 2019. With vacancies now at a historic low of 4.7 percent among U.S. and Philadelphia commercial real estate properties, and construction still not keeping up with demand, the options for tenants… Read more »
During the second quarter of 2017, 14 buildings totaling 5,075,807 square feet were completed in the Philadelphia commercial real estate market area. This is roughly 8 percent higher than the 13 buildings totaling 2,848,399 square feet that were completed in the first quarter. There were 15,226,755 square feet of industrial space under construction among Philadelphia… Read more »
The Philadelphia industrial real estate market ended the second quarter of 2017 with a vacancy rate of 5.9 percent. The vacancy rate was up over the previous quarter, with net absorption totaling positive 1,782,519 square feet in the second quarter. That compares to positive 9,931,174 square feet in the first quarter 2017. Vacant sublease space… Read more »
The U.S. and Philadelphia industrial real estate markets are seeing a shortage of bulk warehouse and logistic centers available for sale along with a shift in focus by industrial REITs from acquisition to development. The resultant flattening in yields will likely produce lower investment sales volumes this year throughout the commercial real estate market –… Read more »
