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The Pennsylvania industrial market is currently being impacted by two major trends: large tenant consolidations and an increased appetite by institutional capital for industrial product, particularly in the I-81/I-78 corridor.

As recently as five or six years ago, the Pennsylvania industrial market was generally considered to be tertiary in the eyes of many institutional players. With the exception of merchant builders and the development community, Pennsylvania was not widely accepted as a core market. But times have changed: Today, nearly all institutional parties consider the region encompassing the Lehigh Valley, Central and Northeastern Pennsylvania as a core industrial market. It is hard to ignore the excitement of this market, with a consistent pipeline of tenant activity floating around 15 million square feet and more than 60 million square feet of development over the past six years.

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