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Industrial Vacancies Falling in Philadelphia, Spec Builds Up in Lehigh Valley

In the Lehigh Valley, 1.5 million square feet of speculative construction added during the third quarter remained largely vacant, says Jared Jacobs, Cushman & Wakefield's Philadelphia research manager.

By Steve Lubetkin | Updated on October 30, 2017

Jared Jacobs, Cushman & Wakefield research manager, Philadelphia office Jared Jacobs, Cushman & Wakefield research manager, Philadelphia office

PHILADELPHIA, PA—The market for industrial property tightened in the third quarter as industrial real estate vacancy declined in Philadelphia, but the continued frenzy of speculative construction along the PA I-81 and I-78 Corridor in the Lehigh Valley region led to an increase in vacancies there, according to Cushman & Wakefield’s third quarter 2017 industrial real estate analysis.

In the Lehigh Valley, 1.5 million square feet of speculative construction added during the third quarter remained largely vacant, says Jared Jacobs, Cushman & Wakefield’s Philadelphia research manager.

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