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2020 Q4 Eastern Pennsylvania Industrial Big Box Report

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Record-Breaking Occupier Demand

The pandemic has intensified occupier demand for Eastern PA at an unprecedented scale. Occupier transactions in the I-78/I-81 submarkets soared to 29.2 MSF, shattering the previous record by 12 MSF. Development activity is picking up across the region in response to supply shortfalls, notably so along the I-95 corridor where two generational land transactions were completed.

 

I-78/I-81 Submarkets

  • 29.2 MSF Annual Transactions

  • 16.2 MSF Annual Net Absorption

  • 6.7% Annual Market Growth

  • 3.9% Average Asking Rent YOY Growth

 

I-95 Corridor

  • 2.0% Vacancy

  • 6.9% Annual Market Growth

  • $7.93 PSF Average Asking Rent

 

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2020 Q4 Eastern Pennsylvania Industrial Big Box Report

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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

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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

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


In addition to a large 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 hundreds of acres of on and off-market development opportunities resulting in millions of 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. 


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Michael Golarz

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Michael has been active in the eastern Pennsylvania industrial market for the past 13 years with a primary focus on the sale and leasing of major industrial projects.  He has assisted in the completion of numerous multi-market transactions while also focusing on land entitlement and development.  His clients include multi-national companies and locally-based, large and mid-sized businesses.

Michael quickly established a strong presence in suburban Philadelphia and eastern Pennsylvania as a top performer.  His analytic study of the industrial markets, including major occupiers, trends, labor and infrastructure, give him a unique ability to satisfy both manufacturing and warehousing client requirements.  

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Tom Golarz

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Tom joined Colliers in 2017 within the industrial division. His areas of focus are primarily sourcing and disposition of land/existing, functionally obsolete development opportunities, Landlord/Seller representation, ground-up development, and corporate solutions.

His familiarity with Class-A development, both speculative and Built-to-Suit, allow him to identify potential off-market opportunities while also providing the required analytical market data to verify a projects viability to investors, developers, capital sources, and occupiers/Tenants.

Before joining Colliers, Tom was a sales representative with EM Sullivan Associates where he was the primary contact for all sales and consulting services for his clients.

Tom represented more than 15 companies in the mid-Atlantic region, facilitating and consulting on their specialty chemical raw material needs. He gained new approvals for products within the EM Sullivan portfolio resulting in a total of over one million dollars in new business - an increase of over 40% for the mid-Atlantic territory and, as the lead on four projects, increased sales by over $7 million company wide -  representing a 30% increase.

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