Philadelphia industrial real estate market reports

Q2 2022

Investors are trying to balance a strong current leasing market with higher interest rates and lower cap rates, potentially resulting in lower overall property values.

861 MSF

Inventory

Eastern Pennsylvania and Southern New Jersey’s industrial market continues to grow, surpassing 860 million SF.

-1.7 MSF

Net Absorption

Absorption the past three months has turned negative with vacancy rates beginning to rise as large amounts of inventory continue to be delivered.

$7.70

Direct Asking Rent

Rents continue to increase off historical highs
60 MSF

Availabilities

Existing availabilities are consistent with a market in equilibrium.
4.3%

Vacancy

Historically low vacancy allows the development trend for new construction to continue.

$111 psf

Average Investment Sales Price

Overall market instability continues to drive uncertainty for investment sales, with sales volume reaching $220 MSF in Q2.

Download the 2022 Q2 Philadelphia Industrial Market Report

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