When discussing industrial real estate in Greater Philadelphia, seemingly all the success stories have come from the farthest reaches of the region — but that might be about to change.
Industrial real estate continues to grow in value, especially in Greater Philadelphia, even as other sectors begin to falter at this late stage in the cycle. Much of the demand has come from retailers' need to revamp their supply chains to maximize efficiency and speed to consumers, which has put a premium on location. That focus has ramped up interest in Philadelphia proper to levels not seen since before the collapse of manufacturing in the region. “It’s a pretty fast-paced environment right now; the level of demand we’re seeing right now for our industrial portfolio in the city is unprecedented,” Philadelphia Industrial Development Corp. Senior Vice President Tom Dalfo said.
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Credit: Matthew Rothstein, Bisnow East Cost
