Colliers Logistics & Transportation report robust year for leasing big box space

Colliers Logistics & Transportation for Eastern Pennsylvania leased more than 10 million square-feet of big box space last year. 

The team of Mark Chubb, Michael Zerbe and Summer Coulter also had several marquee development transactions, the team said in a press release. 

The region as a whole had a very strong year in terms of leasing activity, with 34.3 million square feet of overall occupier activity, driving the vacancy rate down dramatically to 2.8% at year-end 2021. 

Highlights of their activity include:  

Lehigh Valley Trade Center II, 526,662 square-feet to Clarion Partners & Trammell Crow 

Briarwood Golf Course, York, 1,080,308 square-feet, to Northpoint Development 

Northpoint Development, Hazelton, 2,000,000 square-feet, to undisclosed company 

 “2021 was an incredible year for the Eastern Pa. marketplace with regionwide overall asking rates increasing 16.3% over the course of the year, and land values more than doubling in many submarkets. As demand remains robust, we expect the momentum to continue into 2022,” said Chubb.