Recent reports of such supply chain problems as the 80,000 cargo shipping containers piled up at the Port of Savannah and ships waiting up to nine days to offload their cargo, illustrate why the commercial real estate market is booming in Eastern Pennsylvania along the I-78/I-81 corridor. 

Rent prices for logistics facilities in the Northeast U.S. Corridor are skyrocketing, but that may be good news for developers and property managers in the Lehigh Valley and Central Pennsylvania.

CBRE has named Rija Beares to lead its Greater Philadelphia Region, which includes both the Lehigh Valley and Central Pennsylvania in addition to downtown and suburban Philadelphia, Delaware and Southern New Jersey.

CBRE reports that it arranged the sale of the nearly 2.4 million-square-foot Rausch Creek Logistics Center in Valley View to California-based Panattoni Development Co.

The overwhelming demand for light industrial and warehousing space along the I-78/I-81 corridor should last through the end of the year and likely beyond, said Vince Ranalli, executive vice president for CBRE.

As demand for light industrial and logistics facilities continues to outpace available space, developers are making changes to the plans for River Pointe Commerce Park in Upper Mount Bethel to meet that demand.

A logistics provider to the fashion industry is moving into the newly developed Bridge Point 78 in Phillipsburg, New Jersey.

J.G. Petrucci Co. Inc. has expanded its industrial portfolio with the acquisition of two properties on Snowdrift Road in Upper Macungie Township.

Commercial real estate experts were expecting 2020s industrial development boom to continue, but Mike Hess, senior vice president of CBRE in the Harrisburg office said industrial development along the I-78/I-81 corridor was even stronger than expected during the first quarter of the year.

Since the start of the COVID-19 pandemic, growth in the e-commerce, logistics and transportation industries, which were already booming in the Lehigh Valley, has gone full tilt.