• Sat. May 25th, 2024

Mega Industrial Leases Drying Up Across the Philadelphia Region

Bynewsmagzines

Jun 21, 2023
The largest industrial lease signed so far in 2023 in the Philadelphia region was for 350,000 square feet in Building 1 of the Delco Logistics Center.in Eddystone, Pennsylvania. Barry Callebaut, a cocoa producer, signed a seven-year lease in the two-building complex owned by WPT Capital Advisors.

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The Philadelphia region’s industrial market has experienced a significant shift in leasing trends. Historically, about five industrial leases exceeding 500,000 square feet were signed each year since 2015. But halfway into 2023, no industrial leases of that size cohort have been recorded.

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