Figures
Philadelphia Industrial Figures Report Q1 2025
Southern New Jersey tallies steady demand; remaining market struggles with supply
April 6, 2025 2 Minute Read
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- Overall leasing activity was down, posting its lowest measure since 2015, while the construction pipeline remained stable, predicated on New Jersey’s strength.
- With over 800,000 sq. ft. delivered this quarter, four million sq. ft. of new Class A construction has been built in Philadelphia County since 2022, the same amount delivered during the prior ten-year period.
- Third-party logistics (3PL) activity accounted for most transactions, a positive for the market as tariffs and challenging macro-economic factors sidelined other user types, specifically manufacturing.