E-commerce and logistics companies such as Amazon and Ryder Logistics made up the bulk of leasing activity during Q3 2020.
Northeast PA shows promising signs of the new growth as net absorption and construction completions outweigh the Lehigh Valley and Central PA submarkets.
Over 2.6 million sq. ft. of new product hit the market along with an additional 2 million sq. ft. added to the development pipeline with the majority of starts in the Lehigh Valley.
Capital markets exhibited a return to late-2019/early 2020 pricing levels throughout the Corridor, with signs of further cap rate compression on the horizon. Favorable financing options and renewed optimism in rent growth positively impacted pricing.