Figure

Philadelphia Industrial Figures Q4 2022

January 13, 2023

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  • The Metro remained tight with little available space as vacancy remained below 4%.
  • Residents of townships pushing back on warehouse development along with challenging debt markets limited developers' capability to create additional product, adding value to the 21.9 million sq. ft. currently under construction.
  • Transportation/distribution and third-party logistics companies dominated leasing activity, while manufacturing continued to expand its share of activity.