Colliers Year End Research Reports for PA/SNJ/DE
Regional Industrial Market
- The overall regional vacancy rate increased from 6.0% to 6.4% during the first half of 2020.
- Year-to-date absorption totaled over 23.4 million square feet, more than tripling 2019's mid-year total.
- Asking rents rose by an additional 3.0% during the last two quarters to $5.60 per square foot or a 7.0% year-over-year increase.
- The 17.1 million square feet of deliveries in the second half of the year pushed annual total past 2016's high-water mark.
- Investment demand remained extremely strong, boosted by an increase in sale-leaseback transactions.