Price tags on industrial property have plummeted from $100 to $120 per square foot to just $65 to $70 per square foot in Chester County, making it cheaper for companies to buy than rent and bringing a real estate boom to the area.

Businesses are stepping in to take advantage of the boon cheaper prices are offering. In the first half of the year alone, sales of industrial property have more than tripled the entire total from last year, according to a Philadelphia Business Journal report on the trend.

The purchases have mainly been for warehouse, flex and distribution buildings, and Exton has been a hot spot. In addition to low prices, tax benefits and the prospect of value appreciation are also driving the boom.

Read more about the trend in the Philadelphia Business Journal here.