•Vacancy within the Metro Philadelphia market declined from 5.9% to 5.5%. This trend is expected to continue as demand remains persistent. As supply is added to the market, vacancy numbers will fluctuate.
•Lease rates continued to rise in Q2 2018 to $5.74 from $5.46 in Q1 2018. Despite older product in the market, the high demand for space and little supply of new product is increasing rents throughout Metro Philadelphia.
•Developers in South Jersey remained optimistic as about 4.3 million square feet were under construction in the market with Burlington County accounting for 2.4 million square feet alone.
Over $302 million of investment sales occurred in the Metro Philadelphia market in Q2 2018. Private investors made up a large portion of sales at 55%, and foreign investment