Industrial Hot Spots Continue to Tighten

(Read more on the industrial market.)

PHILADELPHIA-The overall industrial market throughout the MSA remained active during the first quarter of the year, according to data from several area brokerage firms. CB Richard Ellis puts the vacancy rate at 6.1%, down from nearly 6.3% in the final quarter of 2006.

CBRE statistics encompass 17 counties in Pennsylvania, New Jersey and Delaware. Cushman & Wakefield data covers a narrower geography and puts the overall area’s industrial vacancy at 9%. Its report notes, “This is the lowest overall vacancy rate for the industrial market in five years,” and says it is 120 basis points below the total vacancy for the same quarter a year ago.