• Class A asking rates region-wide reached an all-time high in Q1 2019 at $30.00 per-square-foot per-year, propped up heavily by the CBD and the Philadelphia Suburbs.
  • Negative net absorption in the CBD due to the ongoing trend of corporate downsizing was largely canceled out by positive demand growth in the surrounding submarkets, notably in Northern Delaware.
  • Two major build-to-suit projects in the Philadelphia Suburbs broke ground in Q1 2019. The developments, one for AmeriHealth Caritas in Newtown Square and the other for Amerisource Bergen in Conshohocken, more than doubled the region’s construction pipeline.