Search
 

Lehigh Valley Industrial Market Poised for Recovery

PHILADELPHIA-A slight drop in overall vacancy from 14% to 13.5% in second quarter combines with a dramatic improvement in net absorption this year to signal an "extremely positive" outlook, according to research from Cushman & Wakefield of Pennsylvania.

By Marita Thomas | Updated on August 07, 2003

PHILADELPHIA-The Lehigh Valley industrial market, which grew by 30% since 1998, seems poised for a comeback, according to second-quarter data from the locally based office of Cushman & Wakefield of Pennsylvania. Overall vacancy dropped a bit, to 13.5% versus the 14%-level that had held through this year’s opening quarter.

While that’s a far cry from the low of 6.1% vacancy in the valley in 2000, it combines with other good news. Net absorption year-to-date was up by 1,366,864 sf, according to C&W. That represents a dramatic improvement over steady negative absorption in 2002.

Furthermore, leasing activity this year “is nearly three times higher than last year at this time,” according to the report. It rose to 1,706,184 sf compared to 665,174 sf in mid-year 2002.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.