West Chester-Based Commercial Realtor Sees Customers ‘Paying Record Pricing’ for Industrial Warehouse Space

building with sidewalk flags
Image via Jessica Griffin, Philadelphia Inquirer.
The commercial real estate market for industrial warehouses, such as this Amazon storage site, is red hot across the Philadelphia region.

While the regional office space market is currently outperforming expectations, the industrial warehouse space market is proving to be extremely strong. Gene Marks covered the view of West Chester-based Swope Lees Commercial Real Estate for The Philadelphia Inquirer.

“That market is very, very hot,” said Charles Swope. “We have significantly more demand than supply for that sector. Our customers are paying record pricing in terms of leasing and purchases.”

The majority of commercial space is being swallowed up by larger players, but there are still opportunities for small businesses willing to meet landlord requirements.

For example, property owners and realtors seek businesses with a good financial track record. Many will require appropriate documentation as proof of a tenant’s soundness.

“It’s not to say that we don’t work with startups,” said Swope. “But you need to have a history and prove that your business is creditworthy.”

Also, landlords usually require a minimum five-year commitment from customers and build in annual rent increases.

Read more about the industry view of Swope Lees Commercial Real Estate in The Philadelphia Inquirer.

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