Figures

Philadelphia Metro Industrial Figures Report Q1 2024

Developers continued to break ground on new projects in the face of rising vacancy.

April 9, 2024 3 Minute Read

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  • Vacancy rose for the sixth straight quarter, as developers continued to add new supply to the market at a rate that outpaced persistent demand.
  • Third-party logistics companies and manufacturers comprised the bulk of new leases signed, in line with recent trends.
  • Oversupply stopped rent growth and signs of softening in effective rents appeared.