Philadelphia industrial new deliveries in 2023 by submarket - United States
Philadelphia industrial new deliveries in 2023 by submarket
The Philadelphia industrial market saw over 47 million square feet (msf) of new industrial product delivered in 2023, equating to 4.8% of total existing inventory, a new record high for YTD delivers for the Philadelphia market.
Active new development is down 63% since its last peak of 56 msf in Q2 2022, with 20.8 msf now actively under construction, as the market returns to pre-pandemic levels of new development.
Burlington county had the most amount of square feet delivered in 2023, with 17 new buildings delivered equating to just over 8 msf. Bucks County came in second with 4.9 msf delivered across eight new buildings.