Friday, March 14, 2014

Select Top Five Philadelphia Industrial Leases Signed in Q4 2013

The select top industrial lease signed during the fourth quarter of 2013 in the Philadelphia market was at 7132 Daniels Dr. in the Lehigh Valley submarket. Knoll, Inc. leased 289,843 square feet there. 

The landlord signed a 249,492-square-foot lease  at Pureland VI in the Gloucester County Industrial submarket. 

Warehouse Services, Inc. renewed its 224,086-square-foot lease with Liberty Property Trust at 651 Boulder Dr. in the Lehigh Valley submarket. 

Owens & Minor renewed its 191,330-square-foot lease at 7437 Industrial Blvd. in the Lehigh Valley submarket. Liberty Property Trust represented the landlord.

In the first quarter, Walmart signed a 1.2 million-square-foot lease at 2785 Commerce Center Blvd. in the Lehigh Valley submarket. Liberty Property Trust represented the landlord.

This trend is compared to the U.S. National Industrial select largest lease signings occurring in Q4 2013, which include Amazon's 1.15 million-square-foot lease on Keith Ave. in the Baltimore market; Home Depot's renewal of 1.1 million square feet at 150 Portside Ct. in the Savannah market; the 1.6-million-square-foot lease signed in the first quarter by Bestway Trucking at 2475 George Urban Blvd. in the Buffalo/Niagara Falls market; and Genco Distribution System's second-quarter renewal of 1.26 million square feet at Gateway Commerce Center 1 in the St. Louis market. 
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