Cleveland-Cliffs Inc.’s shuttered steel facilities in Conshohocken and Steelton are attracting attention from a range of potential buyers, including manufacturers and data center developers. The Cleveland-based steel producer confirmed it has received “inbound interest” for the two Pennsylvania plants, as well as for its Riverdale strip mill in Illinois. However, it remains unclear whether any… Read more »
Logistics Property Co., a Chicago-based developer, is actively pursuing new opportunities along the Northeast corridor while working on an ambitious plan to deliver 6.2 million square feet of industrial space in the Philadelphia region over a five-year period. “We’re continuing to explore additional sites because we believe this region will outperform many other markets globally,”… Read more »
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 »
Amazon announced plans Monday to build a new data center at the Keystone Trade Center in Bucks County, marking part of a sweeping $20 billion investment across Pennsylvania aimed at advancing artificial intelligence and cloud computing infrastructure. Governor Josh Shapiro called it the largest private investment in the state’s history. Along with the Bucks County… Read more »
Philadelphia has solidified its position as a top-tier industrial real estate market, delivering over 4 million square feet of new space in the first quarter of 2025. The city ranked fourth in a new national report by CommercialCafe, making it the highest-ranked market on the East Coast. The ranking evaluated 30 major U.S. industrial hubs… 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 »
Quaker Valley Foods sold its 241,000 SF cold storage warehouse at 2701 Red Lion Road, Northeast Philadelphia, for $41M in a sale-leaseback deal, ensuring continued operations. Phoenix-based Fundamental Income acquired the 40-year-old property, which Quaker Valley purchased in 2004 for $9.8M. The sale price equates to approximately $170 per SF. *Article courtesy of Philadelphia Business… Read more »
Harrisburg, Pennsylvania, has seen remarkable growth in its commercial real estate market over the past decade, with total sales volume climbing from around $501 million in 2014 to $861 million so far this year. Adjusted for inflation, this marks a growth of over 30% during the period. The industrial sector remains a dominant force in… 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 »
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 »
