The select top lease signed in the fourth quarter 2013 in the Philly industrial space market was for 289,843 square feet leased by Knoll, Inc. at 7132 Daniels Drive in the Lehigh Valley submarket, according to the latest market trend report from the CoStar Group.
Other significant fourth quarter leases for industrial space in Philadelphia reported in CoStar’s Fourth Quarter 2013 Market Report were:
— A 249,492-square-foot lease signed at Pureland VI for Philadelphia industrial space in the GloucesterCounty industrial submarket.
— Warehouse Services, Inc.’s lease renewal for 224,086 square feet at 651 Boulder Drive for industrial space in Philadelphia in the LehighValley submarket.
— Owens & Minor’s renewal of its lease for 191,330 square feet of Philly industrial space at 7437 Industrial Boulevard in the Lehigh Valley submarket.
Also notable in the first quarter, CoStar said, was Wal-Mart’s signing of a 1.2 million-square-foot lease for industrial space in Philadelphia at 2785 Commerce Center Boulevard in the LehighValley submarket.
In comparison to trends in the Philadelphia industrial space market, CoStar reported that the U.S. national industrial market’s select largest lease signings in the fourth quarter 2013 included Amazon’s 1.15 million-square-foot lease on Keith Avenue in the Baltimore market; Home Depot’s renewal of 1.1 million square feet at 150 Portside Court in the Savannah market; the 1.6-million-square-foot lease signed in the first quarter by Bestway Trucking at 2475 George Urban Boulevard in the Buffalo/Niagara Falls market; and Genco Distribution System’s second-quarter renewal of 1.26 million square feet at Gateway Commerce Center 1 in the St. Louis market.
For more information about Philadelphia industrial space or any Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (firstname.lastname@example.org) at Wolf Commercial Real Estate, a leading Philadelphia commercial real estate broker that specializes in industrial space in Philadelphia.
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