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