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Shift in ownership at the top of Greater Philadelphia’s big-box industrial submarkets

  • Following a year and a half in which 23.8 million square feet of big-box inventory was developed, the top ten owners of big-box industrial product in Central PA, Lehigh Valley, I-81 Corridor, and Southern NJ have been shaken up. Over the past year and a half, the top ten owners have increased their total market share by 3.7 percent, now at 40.5 percent, with Clarion Partners having the largest growth over this time period after developing 3.3 million square feet.
  • Currently, 19.4 million square feet of big-box product is underway, 5.4 million square feet of which is being developed by current ten largest owners. NorthPoint Development, currently with a 0.6 percent market share, may enter the top ten big-box owners list over the next year as they are actively developing 3.1 million square feet
  • The big-box industrial market is defined as warehouse and distribution facilities, 100,000 square feet and greater.​

Source: JLL Research

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