Report: Valley commercial real estate market going strong

The Lehigh Valley’s commercial real estate scene is ending 2015 on a high note.

The Lehigh Valley Economic Development Corp. has released its year-end quarterly report on commercial real estate, showing vacancy rates in the region’s office, industrial and flex space to be below average.

According to the report, the office vacancy rate in the Lehigh Valley is significantly lower than the national average of 16 percent. The local vacancy rate also has improved from 11.79 percent in the fourth quarter of 2014, to 10.66 percent in the fourth quarter of 2015, with asking rental rates remaining relatively steady.

The industrial real estate market in the Lehigh Valley also remains strong, with vacancy rates for buildings 500,000 square feet or higher at 1.2 percent and low rates for medium- and small-sized buildings as well, the report finds.

The region’s flex market consists of 241 buildings, and vacancy rates in that market remain low at 4.5 percent, according to the LVEDC.

The full report is available on the LVEDC website HERE.

Source: LVB