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I-81/78 Corridor Market Reports

Philadelphia I81/78 Corridor Industial Market

Average Asking Rent (Price/SF) $4.64
Vacancy Rate (%) 7.8%
Net Absorption (SF) 6,170,565

The I-81/78 Corridor industrial market accumulated 6.2 million square feet of positive net absorption in the final three months of 2019, the single largest quarterly total in this economic cycle. Numerous build-to-suit warehouses delivered across the market by year-end and were occupied upon delivery, and multiple speculatively-built warehouses leased earlier in the year finally welcomed tenant move-ins. This activity brought the market's vacancy rate back below the 8.0% mark hit last quarter, to close the year at 7.8%. With the development pipeline sustaining elevated volume at 17.0 million square feet, and more large occupancies slated on the horizon for the first half of 2020, the Corridor will maintain its standing as one of the country's most dynamic distribution markets in the new year.



Philadelphia I-81/78 Corridor Industrial Market Report
4Q19
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