High Ceilings, High Hopes: Why This is the Year of the Warehouse
Industrial is finally getting its due in eastern Pennsylvania. What does that mean for new construction? And is spec is on the horizon? Come learn more with us at our 4th Annual Philadelphia Industrial Summit on Dec. 16 at the Rittenhouse Hotel at 8:30am.
Endurance Real Estate Group president Ben Cohen, who will be a speaker, tells us that industrial real estate nationwide should experience another year of positive absorption and decreased vacancy. That’s especially the case in the big-box market in the I-81-78 Corridor, thanks to its proximity to major population centers, with demand from e-commerce tenants, 3PLs, and traditional brick-and-mortar retailers.
Earlier this year, Endurance bagged a prime spot in the I-81-78 Corridor with its acquisition of the 624k SF 325 S Salem Church Rd in York. The bulk warehouse/distribution facility has 40-foot clear height, which means that pallet storage capacity is 33% greater than in a market-standard 30-foot to 32-foot clear height building. (If you're a pallet, this is where you want to host your biggest parties.) But big isn’t the only game in town. Ben says that with the housing market still recovering, he’s also bullish on small bay-warehouse infill locations and functional Class-B assets in good locations. Sign up here for our Philadelphia Industrial Summit, Dec. 16 at 8:30am.