Real Estate Journal — Industrial / Distribution Centers — May 25 - June 7, 2018 — 7C
www.marejournal.com
M id A tlantic
I ndustrial R eal E state & D istribution C enters By Christopher Bown, Industrial Investments, Inc. State of the Suburban Philadelphia Industrial Market: An owner and redeveloper’s perspective
W ith over 45 years of experience as an industrial real es-
a premier warehousing and distribution location. Smaller “last-mile” sites have also risen to prominence, specifically in the regions just across the bridges from Philadelphia, as tenants seek to locate closer to final delivery points near con- sumers. The logistical network surrounding South Jersey’s ports have multiplied the activ- ity and interest in the region as a premier site for large In- dustrial users. Ideally situated within a few hours of both New York City and Washington, D.C., southern New Jersey’s location has allowed compa-
nies to serve a mid-Atlantic footprint from a more central- ized and affordable location. Within recent years, we have seen vacancy drop across our South Jersey portfolio as ten- ants have continued to sign longer term leases in order to counter the lack of available sites. Current market condi- tions continue to push rental rates higher, although South Jersey remains one of the more affordable regions in the overall mid-Atlantic industrial market. In both Suburban Philadel- phia and South Jersey, a lack of acquisition options has led
to dramatic price increases in properties for sale through- out the region. Often tenants bear the brunt of these higher prices, as these costs are passed through to them in the form of rising rents. This has been another factor in driving lon- ger extensions and renewals amongst tenants in this accel- erating market. Industrial Investments, Inc. is a family owned and operated company that currently owns and manages over 3.5 mil- lion square feet of industrial, warehouse/distribution and flex rental space throughout the re-
gion. We take a hands-on, long- termapproach to every transac- tion and we greatly value our relationships with our tenants and with the brokerage com- munity. We are continually in search of investment opportuni- ties, with a special emphasis on potential value-added redevel- opment opportunities. Christopher Bown is a leasing andmarketing asso- ciate with Industrial Invest- ments, Inc., a 3rd genera- tion family run industrial real estate redeveloper and owner in the Philadelphia region.
tate owner/ operator and redeveloper, I n d u s t r i a l Investments, Inc. has lived through the u p s a n d downs of the local indus-
Christopher Bown
trial market and is in a posi- tion to take a broad view of the current market. In short, we have rarely seen the suburban Philadelphia/South Jersey industrial market in such a strong position. Suburban Philadelphia has experienced substantial ten- ant demand for space in recent years, resulting in a rising rent environment and a flood of new capital into prospective opportunities for industrial real estate development. Deals are moving at a rapid pace as ten- ants are seeking to secure space in a tight market. Our portfo- lio in suburban Philadelphia has seen significant interest in larger facilities near major roadways and distribution networks from companies seek- ing premier locations for both manufacturing and warehous- ing/distribution space. Eastern Pennsylvania’s network of major roadways provides a gateway to the surrounding metropolitan areas that has made suburban Philadelphia a prime location for regional company headquarters and distribution facilities for the mid-Atlantic region. In particu- lar, the additional growth and expansion of King of Prussia as a diversifying market has helped to raise the appeal of the region to prospective tenants. South Jersey has exploded with big-box speculative activ- ity, elevating that region to Zimmerman of Bussel brokers industrial building sale in South Plainfield, NJ South Plainfield, NJ — Bussel Realty Corp. arranged the sale of 121 Cor- porate Blvd. in South Plain- field, a 36,000 s/f industrial building. Herb Zimmerman , senior vice president of BRC, rep- resented the buyer, Touch Dynamic. The seller, Adler Development , was repre- sented in-house.
Industrial Investments, Inc. offers quality space at affordable rates throughout the Philadelphia Suburbs & South Jersey, including: PROVIDING MODERN SPACES FOR MODERN INDUSTRY . – I N D U S T R I A L – F L E X – WA R E H O U S E –
HEADLINE FONT
500 Griffith Morgan Rd Pennsauken, NJ 140,800 Sq Ft
475 North Lewis Rd Limerick, PA 60,000 – 169,312 Sq Ft
For more information about either of these properties, visit www.industrialinvestments.com , or call 215.542.8017 .
532 Township Line Road | Blue Bell, PA 19422 | info@industrialinvestments.com
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