Philly Office Space

Philly Office SpaceWolf Commercial Real Estate (WCRE), a full-service Philadelphia commercial real estate brokerage firm, specializes in representing Philly office space for buyers, tenants, investors and sellers throughout the Greater Philadelphia region.

Strategically located between New York City and Washington, D.C., and easily accessible via a major international airport, Amtrak’s north-south corridor and several major highways, Philadelphia office space offers global, national and regional companies a highly desirable location in which to conduct business.

As experts in Philadelphia commercial real estate services, the team at our Philly commercial real estate brokerage firm provides ongoing detailed information about Philadelphia office properties to our clients and prospects to help them achieve their real estate goals. At Wolf Commercial Real Estate, our Philadelphia commercial real estate services encompass the highest quality of service and proven expertise.

Philly Office Space Property Owner Representation

WCRE, a leading Philadelphia commercial real estate broker, helps owners of Philly office space for sale or lease put tenants or buyers in their properties through a defined marketing process that is tailored to each property and sub-market. Our proven marketing strategy is implemented by commercial real estate professionals who are experts in the Greater Philadelphia-area office markets, providing the unparalleled levels of Philadelphia Property Owner Representation. As a premier Philadelphia commercial real estate brokerage firm, we treat your Philadelphia office properties as if they were our own and work closely with you as part of our total commitment to client-focused relationships.

Philly Office Space Tenant Representation

For companies and individuals seeking to lease or acquire new Philly office space, Wolf Commercial Real Estate will identify the office space that best suits your needs, whether in the Greater Philadelphia area or anywhere in the country. Through our Philadelphia Tenant Representation services, we ensure that the sale or lease terms of the Philadelphia office space or any other new property are tailored to meet your goals. As a full-service Philly commercial real estate broker, we assist in the relocation analysis process from start to finish, facilitating a smooth transition into your new Philly office space and serving as your strategic partner invested in your long-term growth and success.

For more information about Philadelphia office space for sale or lease or about commercial properties for sale or lease elsewhere in the United States, please contact Jason Wolf (215-799-6900-office; 215-588-8800-cell; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, the premier Philly commercial real estate brokerage firm.

About Us

Wolf Commercial Real Estate is a Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate services, marketing commercial offices, medical properties, investment properties, industrial properties, land parcels and retail buildings for buyers, tenants, investors and sellers in the Greater Philadelphia area and beyond. Please visit our websites for information about our Philadelphia commercial real estate services for office space, retail space, medical space, investments, industrial space or land for sale or lease, or for information about other commercial real estate listings and commercial real estate services from Wolf Commercial Real Estate, the leading Philly commercial real estate broker.

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Malvern Office Park Hits Market as Redevelopment Opportunity

Oracle's 111-acre Malvern office park hits the market

A major office campus in Malvern is being marketed for sale, presenting a significant redevelopment opportunity along the Main Line. The 111-acre Malvern Green property, located at 51 Valley Stream Parkway, consists of three office buildings and a data center totaling nearly 760,000 square feet.

All four buildings are currently occupied by Oracle, which took ownership of the site through its $28.3 billion acquisition of Cerner Health Services in 2022. Chester County records list Cerner as the property’s official owner.

Since the acquisition, Oracle (NYSE: ORCL) has been reducing and consolidating its office footprint nationwide, including former Cerner locations. In its 2024 annual report, the company disclosed that roughly 32% of its global office portfolio was either being subleased or marketed for disposition at the end of last year.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

SEC Extends Philadelphia Lease Through 2035

Securities and Exchange Commission to retain Philadelphia

The federal government has scaled back its plans to significantly reduce its real estate holdings, opting to maintain two Securities and Exchange Commission offices that were previously slated for closure. Among them is the SEC’s Philadelphia regional hub, providing a notable boost to the city’s office market, which continues to recover from pandemic-related vacancies.

The General Services Administration has finalized a 10-year lease renewal for the SEC space at One Penn Center in Center City. The office, located at 1617 John F. Kennedy Boulevard, spans roughly 44,000 square feet and accommodates about 150 employees.

The SEC has operated from this location for more than a decade, and under the new agreement, its lease will run until August 2035. The decision reflects the government’s shift in strategy as it reconsiders widespread cutbacks to its office footprint nationwide.

*Article courtesy of Costar
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Office Campus Near KOP Mall Sells for $68M

USLI HQ building near King of Prussia Mall sells for $68M

A three-building office complex in Wayne, just minutes from the King of Prussia Mall, has sold for $67.6 million. The campus, totaling 250,185 square feet, includes the properties at 1170, 1180, and 1190 Devon Park Drive.

Chicago-based Mesirow Sale-Leaseback Capital acquired the complex from M&H Properties of Wynnewood. The transaction reflects a price of $270 per square foot, only slightly higher than what the property commanded in a sale more than ten years ago.

Insurance provider USLI occupies the entire campus under a long-term lease, utilizing the site as its corporate headquarters. Mesirow has indicated that the property will remain dedicated to office use under its ownership.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Centre Square Hits Market Amid Foreclosure

Centre Square, Philadelphia’s largest office property, is being marketed for sale even as it remains tied up in an ongoing foreclosure case.

Centre Square, Philadelphia’s largest office property, is being marketed for sale even as it remains tied up in an ongoing foreclosure case.

Located at 1500 Market Street, just west of City Hall, the 1.76 million-square-foot complex includes the 36-story East Tower, the 43-story West Tower, and a 450-space parking garage.

Once one of the city’s premier office addresses, Centre Square now faces steep challenges: more than 1 million square feet sit vacant, driving occupancy down to just 36%. The property has been in receivership for over two years.

According to CMBS filings, Centre Square was appraised at $223.5 million in September 2024—less than half its pre-pandemic valuation of $471 million in 2019.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

1818 Market Street Placed in Receivership

More than a year after a loan on the property came due, 1818 Market St. has been sent to receivership, joining a growing list of office properties in Philadelphia's central business district facing financial distress.

The 37-story office tower at 1818 Market Street has entered receivership more than a year after its loan matured, adding to the growing roster of financially distressed properties in Philadelphia’s central business district.

Court filings show owner Shorenstein Properties is in default on a $239.5 million commercial mortgage-backed securities (CMBS) loan tied to the nearly 1 million-square-foot building, located at 19th and Market streets.

On August 1, the Philadelphia Court of Common Pleas appointed Hilco Real Estate’s Matthew Mason as receiver for the property, marking another high-profile setback for Center City’s office market.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

2000 Market Street Office Tower Sells for $45.5M

The 29-story office building at 2000 Market St. has sold to a pair of out-of-state investors.

The 29-story office tower at 2000 Market Street has been acquired by a joint venture between New York-based CSB Holdings and Maryland-based Tide Realty Capital. The partnership purchased the 668,335-square-foot property for $45.5 million, or roughly $68 per square foot, according to Tide Realty Capital President Aaron Loeb.

Unlike many recent Center City transactions that have involved residential conversion plans, the buyers intend to continue operating 2000 Market strictly as an office property—making it the largest post-pandemic sale of its kind.

Currently 68% leased, the building’s tenants maintain a weighted average lease term of 5.5 years, providing stability as the new owners take over operations.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Morgan Properties Secures Approval for Major Conshohocken Office Expansion

Morgan Properties plans 2 new office buildings in Conshohocken

Morgan Properties has received approval to move forward with plans for two new office towers along the Schuylkill River, directly next to its recently established Conshohocken headquarters. On Monday, the borough’s Zoning Hearing Board granted the company zoning variances that clear the way for the development.

The project, to be built behind the existing Millennium office complex where Morgan relocated last year, will deliver a combined 304,000 square feet of office space. The proposal also includes two podium-style parking garages offering 1,196 total spaces.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Foreclosure Trial Set for 1700 Market Street

1700 Market foreclosure trial date set as resolution inches closer

A trial date has been scheduled in the foreclosure case involving 1700 Market St., an 850,723-square-foot, 32-story office tower that has faced significant financial strain in recent years. The property, owned by San Francisco-based Shorenstein, carries more than $186.7 million in debt tied to a CMBS loan, according to court filings. The case is set to go before the Philadelphia Court of Common Pleas in March.

The pending trial highlights ongoing stress within Philadelphia’s office sector, where tenant downsizing and a flight to newer, higher-quality buildings have left older assets struggling. While the ultimate outcome remains uncertain, the trial date signals movement toward resolution in the coming months.

The loan, originated by Barclays in January 2022 for $188 million, is currently overseen by Berkadia Commercial as master servicer. According to a June receiver’s report, 1700 Market is 74% leased—below the 88% occupancy level under which the loan was underwritten. The property has been on a servicer watch list since April 2023 due to both financial and vacancy concerns.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

FLD Group and Adjmi Family Expand Plymouth Meeting Portfolio

FLD Group and Adjmi Family Grow Plymouth Meeting

FLD Group of Eatontown, NJ, and New York’s Adjmi family have expanded their footprint in the Philadelphia suburbs with the $5.2 million purchase of an 83,000-square-foot office building at 2250 Hickory Road in Plymouth Meeting. The four-story property, currently about 45% occupied, sits adjacent to the five-building Plymouth Meeting Executive Campus the partners acquired last October for $65.5 million.

Located near the intersection of I-276 and I-476 and just north of Plymouth Meeting Mall, the acquisition gives the joint venture even greater control of the office market in the area. The partners, who also purchased Bala Plaza in Bala Cynwyd for $185 million in 2022 with plans for a large-scale mixed-use redevelopment, said there are no immediate plans to repurpose the Hickory Road building but view the location as a strong long-term investment opportunity.

For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.

Foreclosure Action Targets 1650 Arch Street Office Tower

Foreclosure Action Targets 1650 Arch Street Office Tower

A 553,000-square-foot office building at 1650 Arch Street in Philadelphia’s central business district has entered receivership amid foreclosure proceedings, marking another sign of distress in the city’s office market.

The property, currently about half vacant, is facing heightened financial pressure as its lender, an affiliate of Wilmington-based Delphi Financial Group, filed a foreclosure complaint in mid-June against owner ASI Management in the Philadelphia Court of Common Pleas.

According to the filing, ASI Management owes $46.9 million on the loan tied to the property. Delphi originally provided a $75.8 million loan to ASI Management in 2018. ACORE Capital Mortgage is also listed in the case as Delphi’s administrative agent for the loan.

For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage, advisory and property management firm, is a premier commercial real estate broker that provides a full range of commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale, www.wolfcre.com.