Pennsylvania I-78/I-81 Industrial Corridor Figures

January 13, 2023

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  • Vacancy ticked up slightly as construction completions outpaced net absorption but remains well below the 10-year average of 7%.
  • Average Class A asking rents grew 6.6% year-over-year to settle at $6.61 per-sq.-ft. per-year
  • Developers broke ground on 1.9 million sq. ft. of space bringing the second half total to a modest 3.66 million sq. ft. in comparison to the 14.3 million sq. ft. that broke ground in the first half of 2022.