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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Brandywine Secures Record C-PACE Financing for University City Life Sciences Tower

Brandywine secures $87M loan for 3151 Market in Philadelphia

Brandywine Realty Trust has secured $87.3 million in C-PACE financing for its life sciences building at 3151 Market Street. As a result, the deal marks the largest C-PACE loan in Pennsylvania history.

The 472,000-square-foot property was completed in late 2024. Meanwhile, leasing activity has remained limited. As of October, only retail tenants Fine Wine & Good Spirits and Starbucks were in place.

The financing was originated by Nuveen Green Capital. In addition, the loan is being administered by the Philadelphia Energy Authority. Therefore, lower interest rates are being provided in exchange for sustainable building upgrades.

Notably, $30 million of the loan has been reserved for future tenant improvements. Consequently, flexibility has been created to attract additional life sciences users.

The building sits within the Schuylkill Yards development in University City. Moreover, the 14-acre project represents a $3.5 billion partnership with Drexel University.

The building is seeking LEED Platinum certification. As a result, funding will support improvements to lighting, HVAC systems, water conservation, and the building envelope.

Originally, the tower was developed on a speculative basis. However, life sciences leasing slowed as industry funding declined. Therefore, occupancy has remained below expectations.

By refinancing the project, Brandywine has preserved liquidity. Ultimately, the transaction marks the first C-PACE loan secured by a publicly traded real estate investment trust.

*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.

700 Market Street Office Tower Listed for Sale Amid Foreclosure Resolution

Shorenstein's 1700 Market St. office tower to hit the market

The office tower at 1700 Market Street is hitting the market as its foreclosure process approaches resolution. The 850,723-square-foot, 32-story Center City property will be marketed and sold by Cushman & Wakefield, which the court appointed as receiver. San Francisco-based Shorenstein owns the building and owes more than $186.7 million on a CMBS loan tied to the asset. With the sale process underway, a change in ownership now appears likely. Both Shorenstein and Cushman & Wakefield declined to comment.

The situation began in January 2022, when Barclays originated a $188 million loan, with Berkadia Commercial acting as master servicer. The loan moved to a CMBS watchlist in early 2023 due to financial and vacancy concerns and later transferred to special servicing in late 2023. After the loan matured in February 2024, Wilmington Trust National Association filed a foreclosure complaint in August 2024, leading the court to appoint Cushman & Wakefield as receiver one month later.

*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.

RSM US LLP Signed Long Lease in Philadelphia

RSM moving Center City office with full-floor lease in trophy tower

RSM US LLP has signed a long-term lease to relocate its Philadelphia office to 1735 Market Street. The firm will occupy 22,340 square feet, moving one block from its current location. RSM will relocate from 25,827 square feet at Duane Morris Plaza, located at 30 South 17th Street. The new office will span the entire 21st floor of the 54-story tower. RSM plans to complete the move during the second quarter of this year.

Although the relocation reflects a modest space reduction, the move supports continued business growth. Culture and talent experience as key drivers. The firm expects the new space to better align with evolving workplace needs. 1735 Market Street is currently more than 90% leased.

Philadelphia office vacancy has hovered near 20% in recent years. However, trophy-class buildings continue to outperform the broader market. Top-tier office properties reached 89.5% occupancy in the fourth quarter. These assets have benefited from tenants prioritizing quality locations. Headquartered in Chicago, RSM also maintains offices in Blue Bell and Harrisburg.

*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.

Former GSK Navy Yard Building Sells for $52M

Vacant former GSK building at the Navy Yard sells for $52M

After failing to attract a buyer at sheriff’s sale, the former GSK building at the Navy Yard has sold. The vacant property is located at 5 Crescent Drive.

The Eastern Atlantic States Regional Council of Carpenters purchased the 207,779-square-foot building for $52 million. The price reflects a 60 percent discount from its previous sale eight years ago.

Rialto Capital Management completed the sale on behalf of the CMBS trust holding the property’s debt. As a result, the long-vacant asset has secured a new owner.

Looking ahead, the labor union plans to occupy the building within three to six months. Approximately 125 employees will relocate from the union’s headquarters at 1803 Spring Garden Street.

*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.

Carpenters Union Buys Former GSK Navy Yard Building for $52M

The Carpenters Union purchased the former GSK Navy Yard office for $52M, a 60% discount, and plans to occupy it in 2026.

After failing to sell at sheriff’s sale, the former Navy Yard headquarters of GSK has closed a deal.

The Eastern Atlantic States Regional Council of Carpenters purchased the vacant 207,779-square-foot building at 5 Crescent Drive for $52 million.

The sale price reflects a 60% discount from the property’s last transaction eight years ago.

The building was sold by Rialto Capital Management, acting as special servicer for the CMBS trust holding the debt.

The labor union plans to occupy the property within three to six months.

Approximately 125 employees will relocate from the union’s headquarters at 1803 Spring Garden Street, according to COO Ray Brugueras.

*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.

Center City Office Building Planned for Partial Residential Conversion

Center City Office Building Planned for Partial Residential Conversion

A 266,000-square-foot office building in Philadelphia’s central business district is being considered for a partial residential conversion.

Recently, a zoning permit was approved for an entity affiliated with Philadelphia-based ASI Management. As a result, 45 residential apartments are planned for floors 17 through 20 at 1880 John F. Kennedy Boulevard.

Meanwhile, the building’s first 16 floors would remain office space, according to zoning documents. This mixed-use approach allows the property’s existing office operations to continue.

Originally constructed in 1985, the building fits a broader trend seen across Center City. Increasingly, office properties built during the 1970s and 1980s are being repositioned through partial residential conversions.

Notably, the property is located just northwest of Ten Penn Center at 1801 Market Street. That nearby building was acquired in November by PMC Property Group, with similar conversion plans announced.

Overall, the proposal reflects a continued shift in how aging office buildings are being adapted to meet evolving market demand in Philadelphia.

*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.

McEldrew Purtell Expands With Center City Relocation

McEldrew Purtell Expands With Center City Relocation

Philadelphia-based plaintiffs personal injury law firm McEldrew Purtell is expanding through a relocation to 1845 Walnut Street.

As part of the move, the firm is more than doubling its office footprint. Previously, it occupied 6,732 square feet at 123 South Broad Street, where it had been based for nearly 15 years.

Now, the 20-attorney firm will occupy the entire 17,328-square-foot 18th floor at 1845 Walnut Street. The space is expected to be delivered following the completion of renovations in the coming months.

In the meantime, operations are being conducted from temporary space within the building. This approach allows for continuity during the transition period.

According to Managing Partner Dan Purtell, additional space was required despite the firm’s hybrid work model. Previously, offices were shared and temporary workspaces were utilized to support staff growth.

Ultimately, the relocation was pursued to better support operations, improve functionality, and accommodate continued growth in Center City Philadelphia.

*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.

Community Legal Services Relocates to Broad Street Office

Community Legal Services signs lease to relocate office

Community Legal Services has signed a 13-year lease for 32,500 square feet at 123 S. Broad Street in Philadelphia. The nonprofit will relocate from its longtime office at 1424 Chestnut Street in mid-2026.

Approximately 35,000 square feet will be vacated after more than 30 years at the Chestnut Street location. The new lease provides occupancy of the entire fourth floor and part of the fifth floor. More than 100 employees will be accommodated in the new office space. The reduction in square footage reflects a more efficient office layout and modern workplace design.

The current building at 1424 Chestnut Street was constructed in 1904. A search for modernized office space prompted the relocation. Although nearly 100 years old, 123 S. Broad Street has been recently renovated.

*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.

Madrigal Pharmaceuticals Relocates Headquarters

Madrigal Pharmaceuticals relocates to larger West Conshohocken HQ

Madrigal Pharmaceuticals is relocating to support expanding office and research and development operations in West Conshohocken. The 25-year-old public drugmaker is moving about one mile from its previous location.

The company developed the first FDA-approved pill to treat liver disease MASH nearby. Madrigal will occupy three floors at Keystone’s 1K1 building at 1001 Conshohocken State Road.

The company leased 54,000 square feet at the Four Falls Corporate Center for its headquarters. The 254,000-square-foot building is owned by Keystone.

Madrigal generated more than $600 million in sales during the first three quarters of 2025. The new space is 86% larger than its former 29,000-square-foot office at Four Tower Bridge.

The company employs approximately 200 workers.

*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.

Horn Williamson Expands Center City Office

Horn Williamson Expands

Horn Williamson has expanded its Center City office by 50%. The construction law firm now occupies an entire floor at One Commerce Square.

The firm moved last week to the 32nd floor at 2005 Market St. It signed a 10-year lease with Brandywine Realty Trust. Previously, it occupied two suites totaling 9,700 square feet at Two Penn Center.

Horn Williamson was founded 10 years ago by Jennifer Horn and Carter Williamson, both former Cohen Seglias attorneys. The firm focused on construction litigation, including residential defects and commercial disputes. It later added homeowner association work.

The practice has grown to 25 lawyers and nearly 50 employees. It ranked No. 25 on the Philadelphia Business Journal’s list of the largest women-owned businesses, with 2024 revenue of $6.5 million.

Managing Partner Ryan Lockman said the firm began with one suite at Two Penn Center. A second suite was added in 2019, but both spaces became too tight 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.