• Vacancy within the Metro Philadelphia market remained steady at 5.1% from Q3 2018’s historic low of 4.9%. This trend is expected to continue throughout the coming quarters, but, as new product is added to the market, expect vacancy rates to remain largely steady with some variances.
  • Lease rates lessened slightly in Q4 2018 at $5.72 from $5.86 in Q3 2018 likely due to a lack of available, newer space rather than market pricing.  As new product enters the market expect rents to rise if new available speculative space remains on the market.
  • Developers in Southeastern PA remained optimistic as 1.5 million sq. ft. were under construction in the market with Bucks County accounting for over 1.0 million sq. ft. alone.
  • More than $297 million of investment sales occurred in the Metro Philadelphia market in Q4 2018. Private investors made up 48% of the sales volume, and foreign investment accounted for 13.6%, largely from Singapore investors.