Demand continues to exceed supply in the industrial segment of Lancaster County’s commercial real estate market, while the office and retail sectors are less busy but doing relatively well. 

In the first quarter of 2022, vacancy continued to fall across the industrial, office and retail segments of the York County commercial real estate market, with the industrial sector setting a record low.

According to a study of the top 11 regions in the country by Transwestern Development Company, there has been a 25% increase in growth in manufacturing and warehouse facilities in Southcentral Pennsylvania and Lehigh Valley since the global financial crises of 2007-2009.

The American Trucking Association is warning that today’s 80,000 truck driver shortage could double to more than 160,000 in less than a decade. 

John Giambalvo, president and CEO of Jack Giambalvo Family Dealerships, has seen autoparts shortages before but nothing like what is happening now. From auto parts to the sale of new and used cars, everything is being impacted because of the semiconductor shortage, shipping backlogs and a decrease in supplies.    

Despite the shortage of inventory in the three-county region covered by the Greater Harrisburg Association of Realtors, the number of new listings in the area is on the rise, according to Adrian Smith, president of the association.

Lancaster-based Armstrong World Industries is expanding its offerings of custom felt ceiling and wall solutions with the acquisition of Chicago-based Turf Design Inc.