2021: Outlook Looks Good for the Greater Lehigh Valley, PA CRE Market
The past year (dare I say its name) was challenging to say the least. Restrictions, new business guidelines, shutdowns, all made conducting business difficult and forced businesses to shift quickly into a new normal. For NAI Summit, we swiftly made the shift and fortunately had a tremendous year of growth despite the many challenges we faced. We continued to consistently close deals remotely when mandated and grew our organization by obtaining over a million new square feet to our Property Management and Brokerage portfolios. So what does 2021 look like? Pretty good I’d say! Let’s dive in.
A reason for ongoing success with NAI Summit and in the Lehigh Valley is we are situated in an extremely desired area with many benefits, diversity, and resources. The Lehigh Valley provides access to over a third of US consumers and over half of all Canadian consumers within a day’s drive. We continue to grow in the Lehigh Valley with very strategic plans to help retain our strong and growing economy. According to the Lehigh Valley Economic Development Corporation, “In 2018 and 2019, Lehigh Valley was ranked one of the top regions for development in the Northeast, and the number one region of its size in the Northeast by Site Selection Magazine. Over the past three years, only New York, Philadelphia, Pittsburgh, and Boston have seen more economic development projects.” The Lehigh Valley’s infrastructure is top-notch, offering three international airports and water ports 30 to 90 minutes away, rail service, solid public transportation, and carries a Foreign Trade Zone status. With all of these benefits, the want to be in this area will always be on our side.