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Colliers Logistics Team Closes 2021 with Astounding 10.2 MSF Transacted

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Unprecedented occupier demand & historically low vacancy rates continue to drive increases in rental rates and land values

EASTERN PENNSYLVANIA, February 14, 2022 – The Colliers Logistics & Transportation team for Eastern Pennsylvania of Mark Chubb, Michael Zerbe, Summer Coulter, continues to illustrate expert command of the mega-region’s industrial logistics dynamics to both owners and occupiers with over 10 million square feet of big-box building leases, and several marquee development transactions within 2021. In the fast-paced logistics and warehousing/fulfillment “big-box” real estate sector – this high-octane team keeps up – and is betting on the future.

The region had a very strong year in terms of leasing activity, with 34.3 million square feet of overall occupier activity, driving the vacancy rate down dramatically to 2.8% at year-end 2021.

DEVELOPMENT PROJECT HIGHLIGHTS

Submarket

Address

Buildable SF

Deal Type

Purchaser

Lehigh Valley

Lehigh Valley Trade Center II

526,662 SF

Acquisition

Clarion Partners & Trammell Crow

Central Pennsylvania

Briarwood Golf Course

1,080,308 SF

Acquisition

Northpoint Development

Northeastern Pennsylvania

North Park Drive
Hazleton, PA

2,000,000 SF

Disposition

Confidential


“2021 was an incredible year for the Eastern PA marketplace with regionwide overall asking rates increasing 16.3% over the course of the year, and land values more than doubling in many submarkets.  As demand remains robust, we expect the momentum to continue into 2022” shared Mark Chubb.

Get first access to comprehensive market dynamics by subscribing to the forthcoming Big Box Research Report.


For further questions or expert commentary contact the team:

Mark Chubb, Senior Managing Director 
+1 610 684 1862 |
Mark.Chubb@colliers.com

Michael Zerbe, Senior Managing Director 
+1 610 684 1853|
Michael.Zerbe@colliers.com

Summer Coulter, Executive Vice President 
+1 610 684 1861 |
Summer.Coulter@colliers.com

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About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.  Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn

 

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Related Experts

Mark Chubb

Senior Managing Director | Conshohocken

Conshohocken

Mark is co-leader of Colliers Logistics & Transportation Solutions Group based out the Philadelphia Regional Market. The team focuses on providing advisory services to both occupiers and owners of bulk warehouses, fulfillment and distribution facilities. Locally, they provide extensive coverage in Eastern Pennsylvania, Delaware, Northern Maryland and Southern New Jersey.

Beyond his regional market, he advises corporate occupier clients on real estate strategy and procurement of sites or facilities throughout North America. He has represented many prominent organizations on both the tenant/buyer and landlord/seller side of the transaction, with projects totaling over 25 million square feet of space in the past 5 years.

Mark serves on the national steering committee of Colliers International's Logistics & Transportation Solutions Group. The group is a national group of industry leaders that focus exclusively on providing real estate services to the users of logistics facilities.

Mark focusses on providing creative, market based solutions to his clients needs with an emphasis on reducing occupancy costs and limiting risk.

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Michael Zerbe

Senior Managing Director | Conshohocken

Conshohocken

Michael Zerbe is a Senior Managing Director & Principal within Colliers and is a member of Colliers Logistics and Transportation Services Group.

He specializes in assisting consumer products companies and third party logistics companies with distribution centers across the country.  He also focuses on large distribution centers along the I-78, I-81 and I-80 corridors, representing clients in the acquisition, disposition and development of industrial real estate.

Michael has extensive experience in many facets of the real estate process including site selection analysis and ground-up development including entitlement and incentive procurement, property valuation, and transactional negotiations.

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Summer Coulter

Executive Vice President

Conshohocken

Summer Coulter joined Colliers in 2010 after 4 years with CB Richard Ellis. Summer specializes in landlord and tenant representation, as well as acquisitions and dispositions of industrial ground, formerly in the Inland Empire industrial market, now in the Eastern Pennsylvania industrial marketplace.

In addition to a long list of institutional clients represented on leasing and building sales, Summer focuses largely on sourcing and selling land for future industrial development. Over the course of her career, Summer has sold over 2,400 acres of on and off-market development opportunities resulting in over 36MM square feet of industrial buildings. Summer specializes in institutional quality developments, and has sold property to clients such as Prologis, Duke Realty, Clarion Partners, Trammell Crow, Watson Land Company, Seefried, Sares Regis Group, NFI, Goodman, Panattoni, and Cabot Properties.

Ms. Coulter’s extensive experience includes a substantial geographic area, spanning both coasts. Summer has successfully completed various types of transactions ranging from multiple owner assemblages, property re-zones, properties with environmental challenges, sale-leaseback transactions, and manufacturing re-development opportunities.


Ms. Coulter’s extensive experience includes a substantial geographic area, spanning both coasts. Summer has successfully completed various types of transactions ranging from multiple owner assemblages, property re-zones, properties with environmental challenges, sale-leaseback transactions, and manufacturing re-development opportunities.

View expert