Amid a growing backlog of unleased speculative warehouse developments and heightened interest rates, developers have slowed construction on new projects in Philadelphia's industrial market. However, developers are banking on strong pent-up demand for industrial space with a pipeline of proposed projects that totals over 75 million square feet across 250 buildings, suggesting that development activity is likely to rebound quickly once market dynamics improve.
Industrial developers migrate to Philadelphia’s southern counties
Developers have proposed plans to build 250 buildings totaling over 75 million square feet
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