Philadelphia industrial real estate market reports

Q2 2021: The pandemic did not slow down the Philadelphia industrial market as leasing reached record levels, rents increased, and sales volume remained strong.

The Philadelphia market did not slow down during the pandemic with leasing reaching record levels, rents increasing and sales volume remaining strong. While vaccination rates are below the national average, the Philadelphia market looks primed to come out of the pandemic stronger than ever. 


Economic Conditions

Reopening efforts have allowed the Philadelphia MSA unemployment rate to rebound from a high of 15.0% in April 2020 to 6.1% in May 2021.


Recovery Rate

Philadelphia County’s vaccination rates at 43.5% are below the national average.

15.0 msf

Industrial Demand

Net absorption has been strong during the first half of the year, totaling approximately 15.0 million square feet.


Industrial Supply

Approximately 57.6% of the square footage under construction are buildings greater than 750,000 square feet. 


Pricing Trends

Base rents have increased by 17.9% since the start of the pandemic and have continued a steady upward trajectory since 2015.

$4.8 B

Capital Markets

Industrial investment activity has surged to $4.8 billion since 2020 as investors are attracted to the sector’s strong underlying fundamentals.

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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.

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