Downtown: Construction continues on over 1.8M sq. ft. of product downtown. 2400 Market, 3675 Market and The Comcast Technology Center are all expected to deliver by year’s end.
Suburbs: Vacancy continues to decline in the suburban market and currently sits at 15.2% - a year-over-year drop of 100 basis points.
Northern Delaware: The Northern Delaware market realized over 70,000 sq. ft. of occupancy gains this quarter, the vast majority of which came from Western New Castle County.
Southern New Jersey: Construction completed during the second quarter on Subaru’s 250,000-sq.-ft. headquarter building in Camden. The American Water built-to-suit is expected to deliver by year’s end.
Lehigh Valley: Strong construction activity continues in the Lehigh Valley market. 600 Hamilton St delivered, while 720 W. Hamilton, a 399,050-sq.-ft. office tower, broke ground this quarter.