Non-Residential Construction Spending

Non-Residential Construction Spending
April 2015
Category: Construction

Current national research has shown a demand in the market for new industrial facilities in the size range of 50,000 to 150,000 square feet. The lack of inventory for smaller scale industrial facilities in certain markets has created more competition among tenants and is expected to prompt activity from regional and national industrial developers, bringing new-state-of-the-art buildings to the market.

Market statistics on a local level show that there may be a demand for these types of facilities as well. In total there are 545 industrial buildings between 50,000-150,000 square feet in York, Adams, and Lancaster Counties. In April of 2015, these buildings had a 6.1% vacancy rate. Of these buildings, 30 were available for sale (only 5 are newer "Class A" facilities). There were 17 industrial spaces on the market ranging from 50,000 to 150,000 square feet (only 1 of these buildings is a newer "Class A" facility).