Philadelphia industrial real estate market reports

Q4 2022

Leasing fundamentals remain strong amidst dislocation between interest rates and sales volume.

+4.3%

Net Absorption

In Q4 2022 net absorption as a percentage of total inventory decreased 200 basis points from 6.3% in Q4 2021 to 4.3% in Q4 2022.

4.2%

Total Vacancy Rate

Direct vacancy decreased 70 basis points from 4.5% in Q4 2021 to 3.8% in Q4 2022. Sublet vacancy increased 10 basis points from 0.2% in Q4 2021 to 0.3% in Q4 2022.
$7.32 psf

Asking Rents

Asking rents continued to see upward trajectory and is now up 20.7% from $6.06 in Q3 2022 to $7.32 in Q4 2022.
$3.5B

Sales Volume

Sales volume has decreased 41.7% from $6B in 2021 to $3.5B in 2022. Average sale price per square foot rose 5.36% from $149 in  Q4 2021 to $157 in Q4 2022.
40 msf

New Development

There is currently 40 msf actively under development and slated to deliver in the next twelve months.
80 mos

Average Lease Term

12-month moving average lease term length has decreased 17.4% from 96 months in Q4 2021 to 80 months in Q4 2022.
Download the Philadelphia Industrial Market Report

Your source for the latest Philadelphia industrial real estate reports

Stay on top of current trends affecting the industrial real estate sector in the Greater Philadelphia Area. Gain an overall better understanding of Greater Philadelphia's industrial real estate market conditions, so you can better formulate strategies to overcome any obstacle and know how to best invest in industrial real estate in Greater Philadelphia.

Here, you’ll always find the latest industrial real estate market news so you can stay ahead. Come back often to see expert insights on the current and future of the Greater Philadelphia industrial real estate market.

Get the latest Philadelphia industrial market reports right in your inbox