• Demand from food & beverage manufacturers, third-party logistics companies, e-commerce and retailers claimed the majority of leasing activity this quarter.
  • The Lehigh Valley submarket remained the most sought-after location within the Corridor. As such, contract rents remained the highest there compared to the rest of the market. 
  • Construction restarted during the second half of the quarter after stalling due to a state-ordered moratorium on construction activity. A spate of new product will deliver during the second half ofthe year.
  • During the COVID-19 outbreak, capital markets activity realized a noticeable decline from its historic 4-quarter rolling aggregate of $2.9 billion at the start of the year.