Key Trends

  • The vacancy rate at the end of the third quarter of 2016 was 8.8 percent, down from 9.7 percent at the end of 2015 and below the trailing five year average of 10.6 percent.
  • Absorption totaled over 57,000 square feet following an occupancy loss in 2015.
  • The weighted average asking rent increased by $0.09-per-squarefoot from the end of 2015 to $16.45-per-square-foot, full service.

Our survey of the Northeastern Pennsylvania market totaled 6.5 million square feet in Class A and B buildings over 10,000 square feet in Lackawanna, Luzerne and Schuylkill counties. In addition to the primary cities of Wilkes-Barre, Scranton, Hazleton, and Pottsville, the surveyed inventory includes suburban locations such as Hanover, Kingston, Dallas, Mountain Top, Plains, Pittston, Moosic and Dickson City.