Deliveries are down but the quarter sees an uptick in groundbreakings

The number of projects under construction within the Pennsylvania I-81/78 Corridor increased 31.4% from one year ago to 13.3 million square feet (msf). Construction activity was concentrated in the Central PA (6.4 msf) and Northeast PA (4.9 msf) submarkets. Viable locations for warehousing have diminished in the Lehigh Valley but are more plentiful in the other submarkets. Several notable projects delivered this quarter including the 255,776-square-foot (sf) facility on Valley View Drive in Northeast PA, the 228,648-sf 450 Ben Franklin Boulevard in Central PA and the 218,768-sf 1250 Strickler Road – Building B, also in Central PA. Also, 450 Ben Franklin Boulevard has been leased to Turn5 while the other two properties remain available.

Read the full report