• The PA I-78/81 Corridor saw occupancy gains of just over one million sq. ft. breaking shy of new deliveries of 1.4 million sq. ft. of product for the quarter.
  • Q1 2019 recorded more than 1.4 million sq. ft of deliveries with 1.1 million sq. ft. originating from the Lehigh Valley alone.
  • On par with 2018 numbers, Q1 2019 observed a combined $273 million of investment sales in the PA I-78/81 Corridor. Notably, institutional investors made 52% of the buying pool where REIT and private investors made the rest.
  • Average asking rents hit a new record high of $4.74 per sq. ft. in Q1 2019 where rents in some of the Lehigh Valley’s counties posted asking lease rates exceeding $6.00 per sq. ft.
  • The e-commerce industry continued to grow demand in the PA I-78/81 Corridor with new leases signed by Amazon and Lulus in Q1 2019.