Newmark：2025年第二季度费城工业市场报告（英文版）

The industrial construction pipeline has declined significantly, with 9.8M square feet at the end of the second quarter of 2025, a 3.4M square foot decrease from the previous year. A notable share of the decrease in the construction pipeline is the result of planned industrial developments at the Keystone Trade Center being redirected for data center use. Over the last 8 quarters, there has been an average of just under 3.2M square feet of quarterly deliveries. This reduction aligns well with