GREATER PHILADELPHIA
INDUSTRIAL SUBMARKET STATS
BURLINGTON COUNTY
Total Inventory
33,544,992 SF
Under Construction
3,043,175 SF
Total Vacancy Rate
1.9%
sublease space available
228,710 SF
Quarterly Absorption
196,470 SF
Year-to-date Absorption
59,478 SF
Warehouse Asking Rent
$8.75 PSF
R&D/Flex Asking Rent
$11.55 PSF
Total Asking Rent
$10.64 PSF
SOUTHERN NJ TOTALS
PHILADELPHIA COUNTY
MONTGOMERY COUNTY
LANCASTER COUNTY
DELAWARE COUNTY
CHESTER COUNTY
BUCKS COUNTY
SOUTHEASTERN
PA TOTALS
MARKET TOTALS
SALEM COUNTY
GLOUCESTER COUNTY
CAMDEN COUNTY
NEW CASTLE COUNTY
NEW CASTLE COUNTY
SALEM COUNTY
GLOUCESTER COUNTY
CAMDEN COUNTY
BURLINGTON COUNTY
SOUTHERN NJ TOTALS
PHILADELPHIA COUNTY
MONTGOMERY COUNTY
LANCASTER COUNTY
DELAWARE COUNTY
CHESTER COUNTY
BUCKS COUNTY
SOUTHEASTERN
PA TOTALS
MARKET TOTALS
Total Inventory
8,139,553 SF
Under Construction
1,788,007 SF
Total Vacancy Rate
12.9%
sublease space available
—
Quarterly Absorption
—
Year-to-date Absorption
-92,000 SF
warehouse Asking Rent
$11.05
R&D/Flex Asking Rent
—
Total Asking Rent
$11.30
Total Inventory
35,042,578 SF
Under Construction
1,422,050 SF
Total Vacancy Rate
4.9%
sublease space available
100,000 SF
Quarterly Absorption
374,450 SF
Year-to-date Absorption
1,588,015 SF
warehouse Asking Rent
$11.97 PSF
R&D/Flex Asking Rent
$9.36 PSF
Total Asking Rent
$11.90 PSF
Total Inventory
33,380,735 SF
Under Construction
—
Total Vacancy Rate
2.5%
sublease space available
135,882 SF
Quarterly Absorption
-14,140 SF
Year-to-date Absorption
-138,673 SF
warehouse Asking Rent
$11.00 PSF
R&D/Flex Asking Rent
$10.71 PSF
Total Asking Rent
$10.23 PSF
Total Inventory
68,861,399 SF
Under Construction
730,670 SF
Total Vacancy Rate
15.2%
sublease space available
1,275,821 SF
Quarterly Absorption
948,982 SF
Year-to-date Absorption
237,064 SF
warehouse Asking Rent
$12.82 PSF
R&D/Flex Asking Rent
$11.77 PSF
Total Asking Rent
$12.76 PSF
Total Inventory
145,424,265 SF
Under Construction
3,940,727 SF
Total Vacancy Rate
9.7%
sublease space available
1,511,703 SF
Quarterly Absorption
1,309,292 SF
Year-to-date Absorption
1,594,406 SF
warehouse Asking Rent
$12.52 PSF
R&D/Flex Asking Rent
$11.16 PSF
Total Asking Rent
$12.40 PSF
Total Inventory
86,175,723 SF
Under Construction
2,601,833 SF
Total Vacancy Rate
4.6%
sublease space available
288,500 SF
Quarterly Absorption
652,344 SF
Year-to-date AbsorptioN
569,197 SF
warehouse Asking Rent
$9.31 PSF
R&D/Flex Asking Rent
$13.96 PSF
Total Asking Rent
$10.08 PSF
Total Inventory
73,713,582 SF
Under Construction
308,500 SF
Total Vacancy Rate
5.8%
sublease space available
462,837 SF
Quarterly Absorption
264,900 SF
Year-to-date Absorption
51,209 SF
warehouse Asking Rent
$11.13 PSF
R&D/Flex Asking Rent
$17.04 PSF
Total Asking Rent
$12.65 PSF
Total Inventory
59,843,758 SF
Under Construction
602,040 SF
Total Vacancy Rate
3.3%
sublease space available
16,640 SF
Quarterly Absorption
87,310 SF
Year-to-date Absorption
472,130 SF
warehouse Asking Rent
$8.28
R&D/Flex Asking Rent
$9.56
Total Asking Rent
$8.57 PSF
Total Inventory
30,663,303 SF
Under Construction
479,400 SF
Total Vacancy Rate
3.3%
sublease space available
49,328 SF
Quarterly Absorption
-46,910 SF
Year-to-date Absorption
742,810 SF
warehouse Asking Rent
$13.50 PSF
R&D/Flex Asking Rent
$11.84 PSF
Total Asking Rent
$12.45 PSF
Total Inventory
37,846,817 SF
Under Construction
—
Total Vacancy Rate
3.3%
sublease space available
92,370 SF
Quarterly Absorption
176,544 SF
Year-to-date Absorption
355,473 SF
warehouse Asking Rent
—
R&D/Flex Asking Rent
$11.63 PSF
Total Asking Rent
$11.17 PSF
Total Inventory
63,551,150 SF
Under Construction
281,108 SF
Total Vacancy Rate
5.5%
sublease space available
185,706 SF
Quarterly Absorption
1,470,275 SF
Year-to-date Absorption
2,266,538 SF
warehouse Asking Rent
$10.93 PSF
R&D/Flex Asking Rent
$13.27 PSF
Total Asking Rent
$11.35 PSF
Total Inventory
351,794,333 SF
Under Construction
4,272,881 SF
Total Vacancy Rate
4.5%
sublease space available
1,095,381 SF
Quarterly Absorption
2,604,463 SF
Year-to-date Absorption
4,457,357 SF
warehouse Asking Rent
$10.73 PSF
R&D/Flex Asking Rent
$14.03 PSF
Total Asking Rent
$11.20 PSF
Total Inventory
530,763,590 SF
Under Construction
11,256,783 SF
Total Vacancy Rate
5.8%
sublease space available
2,835,794 SF
Quarterly Absorption
4,110,225 SF
Year-to-date Absorption
6,111,241 SF
warehouse Asking Rent
$11.81 PSF
R&D/Flex Asking Rent
$13.66 PSF
Total Asking Rent
$11.73 PSF
JANUARY 2024