MARKET TRENDS

• Warehouse vacancy in Lehigh Valley remains tight at 4.9% — a 210-basis point decline from Q2 2021. However, headwinds point to a decrease in consumer confidence amid fears of a recession point which could curtail retailer expansion.
• Year over year, the average asking rental rate increased by 13.1% to $5.88 per square foot (psf). New construction commands rents north of $9.00 psf but has yet to reach to the teens.
• Sales volume slowed dramatically from the $262 million transacted in the first quarter. The only property to trade hands was 600 Brighton St in Bethlehem for $18 million.

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