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Harrisburg home to 2 of the priciest industrial sales of 2022
Who says big deals don’t get done in Harrisburg?
Local investment in warehouse growth fueled by consumer demand
Consumer demand is driving the warehouse boom in Central Pennsylvania and Lehigh Valley with ecommerce companies leasing more than half of the space.
Commercial real estate starting 2022 with more records along I-78/I-81 corridor
Coming off a record-breaking year in 2021, the I-78/I-81 corridor is continuing to experience record low vacancy, record high absorption and record high rents in the commercial real estate market, as well as a construction industry that’s struggling to keep up with demand.
U.S. sees record year for large warehouses with I-78/I-81 corridor near top
The United States had a record year for large warehouses in 2021 and the I-78/I-81 corridor, running through the Lehigh Valley, Central Pennsylvania and Northeastern Pennsylvania ranked second in the country for these large transactions.
Record CBRE activity continues in region, driven by supply chain concerns
Recent reports of such supply chain problems as the 80,000 cargo shipping containers piled up at the Port of Savannah and ships waiting up to nine days to offload their cargo, illustrate why the commercial real estate market is booming in Eastern Pennsylvania along the I-78/I-81 corridor.
Light industrial rents skyrocket 30% in Northeast, but Central Pa. may benefit
Rent prices for logistics facilities in the Northeast U.S. Corridor are skyrocketing, but that may be good news for developers and property managers in the Lehigh Valley and Central Pennsylvania.
CBRE names Beares to lead regional market
CBRE has named Rija Beares to lead its Greater Philadelphia Region, which includes both the Lehigh Valley and Central Pennsylvania in addition to downtown and suburban Philadelphia, Delaware and Southern New Jersey.
California developer buys Schuylkill logistic center for $25.7M
CBRE reports that it arranged the sale of the nearly 2.4 million-square-foot Rausch Creek Logistics Center in Valley View to California-based Panattoni Development Co.
Construction boom continues for Light Industrial properties along I-78/I-81 corridor
The overwhelming demand for light industrial and warehousing space along the I-78/I-81 corridor should last through the end of the year and likely beyond, said Vince Ranalli, executive vice president for CBRE.
CBRE 1-78/I-81 Commercial Real Estate Report: ‘If you build it they will come’
Commercial real estate experts were expecting 2020's industrial development boom to continue, but Mike Hess, senior vice president of CBRE in the Harrisburg office said industrial development along the I-78/I-81 corridor was even stronger than expected during the first quarter of the year.
CBRE report: demand for commercial real estate remains high, prices rise in 2020
Despite the pandemic, or in some ways even because of it, commercial real estate demand was strong along the Pennsylvania I-18/I-81 corridor, exceeding the demand over the prior year and driving up commercial real estate leasing rates to record highs.
International firm acquires 832,000-square-foot Myerstown building
An 832,000-square-foot building in Myerstown, Lebanon County was acquired by International real asset investment management firm, CBRE Global Investors as part of a larger logistics portfolio acquisition.
