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There were approximately 303,656 square feet of new leases and renewals executed in the three counties surveyed (Burlington, Camden and Gloucester), a gain of about 10% over the previous quarter, says WCRE's Jason Wolf.
“At just 4.1%, the Greater Philadelphia vacancy rate is considered 'typical' by local standards at the peak of a construction boom highly concentrated within Center City,” says Gebroe-Hammer's Eli Rosen.