Market Posted Year-Over-Year Rent Growth of Nearly 5.5% Last Year The Lehigh Valley, Pennsylvania, industrial market took everything COVID-19 dished out without missing a beat. And it appears ready for whatever 2021 may throw its way. Lehigh Valley’s unique location and proximity to every major city along the northeastern shore meant at the start of the shutdown,… Read more »
Region Experiences Surge in New Logistics Hubs Link Logistics Real Estate is teaming up with Bridge Development Partners to create a 480,000-square-foot industrial campus on a 60-acre site in the Lehigh Valley in Pennsylvania, a hot spot for such projects. Bridge, headquartered in Chicago, assigned the contract for the vacant site at 428 E. Moorestown Road… Read more »
Forward Air Corp. has leased 37,717 square feet in Bethlehem as part of a bigger push into the Lehigh Valley and key Pennsylvania industrial market. The building at 2675 Commerce Center Blvd. is owned by J.G. Petrucci Co. For the past 11 years, Forward (NASDAQ: FWRD) outsourced its logistics operations to a third party in… Read more »
ShipHero has subleased a warehouse facility at 6736 Tilghman St. in Allentown, Pennsylvania. The U.S. multinational e-commerce logistics company is taking the entire 150,0000-square-foot industrial building called Iron Run Distribution Center II. ShipHero will use the Lehigh Valley warehouse as a fulfillment center. It will be the company’s ninth location in the country. The 150,000-square-foot building was… Read more »
The coronavirus caused some minor disruption to Pennsylvania’s Lehigh Valley logistics market through the second quarter, but fallout from the pandemic was largely limited to investment activity. Roughly 60 deals closed through 2020’s tumultuous first two quarters, but only a handful finalized from April through June. With one exception, these were small properties trading between local buyers…. Read more »
The Lehigh Valley was a premiere logistics hub before the coronavirus hit, and it looks remarkably well positioned to maintain that stature through the coming quarters. The map below the location of distribution space occupied by America’s most troubled retailers – those that either had S&P credit rating of BBB – or lower even before the coronavirus… Read more »
The latest data released by the U.S. Census Bureau involving national and Lehigh Valley commercial real estate markets shows Pennsylvania continues struggling to lure new industries and working age residents. The U.S. population aged 20-64 increased by 0.25 percent last year, but of Pennsylvania’s 67 counties, only seven surpassed this growth rate and 55 experienced… Read more »
In an improving economy, industrial property can change hands frequently. In a declining one, industrial property owners may be forced to wind up operations and close the facility. If you own or intend to purchase or shut down an industrial facility in New Jersey, pay particular attention to the provisions contained in the state’s Industrial Site Recovery… Read more »
