By Ryan Cashion Costar
Construction has been completed at 900 Richards Run, marking the delivery of a 249,600-square-foot warehouse within the Richards Run corridor near Florence, New Jersey and the I-95/Route 130 interchange.
The fully-available building was developed by High Street Logistics Properties, a private equity real estate investment management firm founded in 2002 by former senior executives of Trammell Crow Co. and based in Oakbrook Terrace, Illinois.
According to CoStar's latest report on the Philadelphia industrial market, demand has returned this spring after a weak performance last year. Recent net absorption, the net change in occupancy, was a positive 2.3 million square feet, after falling into negative territory last year.
Burlington County in Southern New Jersey continues to lead as the region's strongest industrial submarket, accounting for 3 million square feet of positive absorption over the past year. The regional vacancy rate is expected to peak near 9.3% by mid-2026 before easing as new deliveries taper sharply and demand stabilizes.
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