Short answer: older mid-size industrial buildings can be a good fit for businesses that don't need the tallest ceilings or newest features. Recent market reports point to higher vacancy in this group, which can mean more choices for tenants. Owners may need to work harder on price, condition and upgrades to compete.
I'm Carolyn Olivieri, a Doylestown-based industrial and flex specialist with KW Commercial. I have over ten years in distribution and still run a distribution business today. Plenty of businesses don't need a brand new bulk building, so these buildings are worth a look.
What the market reports say
Colliers said vacancy in suburban Philadelphia, which includes Bucks County, rose in the second quarter of 2026, and pointed to elevated vacancy among previous-generation industrial properties in the 40,000 to 100,000 square foot range, along with slower leasing. Bucks County industrial vacancy rose from 6.05% to 6.63% that quarter. (Source: Colliers, Philadelphia Regional Industrial Report, Q2 2026, https://philadelphia.colliers.com/hubfs/PHL%20Files/PHL%20Research/2026/Q2/Industrial/2026-Q2-Philadelphia-Industrial-Report.pdf) Newmark reported Bucks County vacancy at 6.4% in the third quarter of 2026. (Source: Newmark, Greater Philadelphia Industrial Market Report, Q3 2026, https://nmrk.imgix.net/uploads/fields/pdf-market-reports/3Q26-Greater-Philadelphia-Pennslyvania-Industrial-Market-Report.pdf) The two firms measure the market differently, so their numbers won't match exactly.
For tenants
- More options can mean more room to negotiate on rent, free rent or improvements.
- Check clear height, column spacing, docks and truck court against what you actually need.
- Look closely at the roof, HVAC, lighting, sprinklers and paving. Find out who pays for each.
- Have your own contractor confirm the power service fits your equipment.
For owners
- Compare your building honestly to what tenants can get nearby.
- Small upgrades like LED lighting, dock equipment, paint and paving can help a building show better.
- Have recent reports on the roof and building systems ready for tenants and buyers.
- Pricing to the market usually beats waiting.
Tax and legal questions should go to your accountant and attorney.
Helpful reading: What Should I Look For in a Distribution Warehouse in Bucks County?, How Do I Negotiate an Industrial Lease in Bucks County?, Should I Lease or Buy a Warehouse in Bucks County? and How Much Warehouse Space Do I Need?.
FAQs
Are older industrial buildings cheaper to lease?
They often rent for less than newer buildings, but it depends on location, condition and features. Compare real spaces.
What should I check in an older warehouse?
Clear height, column spacing, docks, the truck court, roof, HVAC, sprinklers, lighting and power service.
Why is vacancy higher in older mid-size buildings?
Colliers pointed to elevated vacancy in previous-generation 40,000 to 100,000 square foot buildings in suburban Philadelphia in the second quarter of 2026, along with slower leasing.
How can an owner make an older building more competitive?
Price it to the market, fix visible issues, consider upgrades like lighting and dock equipment, and have building reports ready.
Talk to a local industrial specialist
Questions about industrial or flex space in Bucks County? Email Carolyn Olivieri, a Doylestown-based industrial and flex specialist with KW Commercial, at c.olivieri@kwcommercial.com
Carolyn Olivieri, KW Commercial