The Philadelphia Market continued to grow in Q2 2017. Another 4 million SF was delivered to our Core Data Set (CDS), which now boasts over 425 million SF of industrial space across Eastern PA, Southern New Jersey, and Delaware. Our CDS focuses on industrial properties, 100,000 SF or larger, with a current design or adaptability to warehouse and distribution. Construction activity picked up in Q2. 5.8 million SF of speculative construction began in Q2, of…
Industry Veteran, Joel Kreider, Joins Lee & Associates of Eastern Pennsylvania as Principal
Camp Hill, Pennsylvania, July 20, 2017 – Lee & Associates of Eastern Pennsylvania is pleased to announce that accomplished industry professional Joel Kreider, SIOR, has joined the firm’s Central Pennsylvania office as a Principal. In this role, Joel will bring his 29 years of experience to bear for the company’s customers, as well as an in-depth knowledge of the Western Pennsylvania Industrial Market. “Joel is a skilled professional with an extensive background and has a…
Cumberland County warehouse redevelopment underway
By Jason Scott, July 12, 2017 at 3:31 PM Demolition and reconstruction work at a former Quaker Oats manufacturing and distribution facility in Hampden Township, which will lead to a smaller modern warehouse on the site, is underway. The property at 485 St. Johns Church Road was purchased by an affiliate of Montgomery County-based Endurance Real Estate Group LLC through a joint venture with CenterSquare Investment Management, an investment manager that is also based in…
Monthly Download | Demand Update | June 2017
Lee & Associates of Eastern Pennsylvania (LAEP), seeks to keep its finger on the pulse of our market by tracking our regional industrial requirements via our Industrial Demand report. As prospective tenants survey the market for their logistical solutions, LAEP diligently evaluates these requirements over the course of each quarter. As we near the end of Q2 2017, we are tracking roughly 94 active requirements for industrial space across the Philadelphia regional market. These requirements…
Lee Follows Up Expansion With Rebrand
Lee & Associates rebrands its logo for the first time in the firm’s 35-year history, along with a new website. Lee & Associates is getting a fresh new look from the first time in its 37-year history. The firm has been in expansion roads for the last several years, and is now following up that growth with a new look. The rebranding also includes updated social media profiles and a web site that will enhance…
Monthly Download | Construction Update | May 2017
Q1 2017 ended with nearly 13 million square feet under construction. Lehigh Valley remained a leader in driving construction activity, leading the market in both the number of projects and total square footage. With 4.5 million square feet being constructed in seven on-going projects, six which are speculative starts, this spec construction activity will help refuel the submarket inventory that experienced a record breaking 2016. The first of these new deliveries are scheduled for the…
Monthly Download | Supply Update | April 2017
2016 was a memorable year for the Philadelphia industrial market. Within the Lee & Associates of Eastern Pennsylvania’s Core Data Set (CDS) , positive net absorption totaled over 17 million square feet across the market, which represented a 47% increase from 2015. Worthy of note in 2016, the Central Pennsylvania (PA) submarket, did not experience the same robust absorption totals quarter over quarter as did the rest of the overall Philadelphia market. However it was…
Casey Noble Joins Lee & Associates of Eastern Pennsylvania as Senior Associate
Fort Washington, Pennsylvania, April 13, 2017 – Lee & Associates of Eastern Pennsylvania is pleased to announce its recent hire of Casey Noble. Casey joins the team in our Fort Washington office as Senior Associate. Within this role, her focus will be the Lehigh Valley and Suburban Philadelphia Industrial Market. “I have been looking to move into the sales side of commercial real estate and was attracted to Lee & Associates (of Eastern Pennsylvania) because…
Health Care Is Rx For Ailing Retail
Rarely in commercial real estate do the stars align so perfectly as with the heightened appetite for retail space due to the explosive growth of physician groups, urgent care centers and other health services.Amid robust medical spending, health care executives have reached a consensus that it is vital for medical professionals to be closer to their patients, especially the growing number needing services connected with aging.The impact of growth in the industry on existing medical…