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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Center City Office Building Back Up for Sale

801 Market St. in Center City Philadelphia back up for sale

A historic building on Market Street in Center City is up for sale. Again. 

The property for sale at 801 Market St. includes 11 stories of office space, or 703,466 square feet. The portion of the building for sale consists of floors three to 13.

The building was built in 1931, renovated in 2002 and recently housed the Philadelphia Inquirer. It’s listed on the National Register of Historic Places.

*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 and advisory 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 West is No Longer Considered a ‘Wasteland’

Center City Philly No Longer Wasteland

As Parkway Corp. CEO Rob Zuritsky stood along John F. Kennedy Boulevard between 21st and 22nd streets surveying the neighborhood, he pointed to a number of development sites that are changing the face of the western edge of Center City. Nearby, construction equipment was scattered on once empty lots, where soon looming structures will rise. 

Like the bustle of construction, Zuritsky’s hand gestures were exuberant, so much so that a passerby asked if he knew where he was going. 

*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 and advisory 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.

Brandywine Realty Trust capitalizing on tenants’ flight to quality

Brandywine Realty Trust capitalizing on tenants' flight to quality

Despite challenges in the office market, Brandywine Realty Trust CEO Jerry Sweeney believes his company is well positioned moving forward because of the high quality of its buildings and shifting portfolio.

In-person tours of Brandywine (NYSE: BDN) properties were up 40% in the first quarter compared with the same timeframe in 2022 and up 27% compared with pre-pandemic levels.

*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 and advisory 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 Stanley Extends Office Lease in Downtown Philly

Morgan Stanley's Philadelphia Office Extends Lease

Global financial services firm Morgan Stanley renewed the lease for its office space in downtown Philadelphia’s One Liberty Place.

The lease covers Morgan Stanley’s 31,000-square-foot space on the 42nd floor at 1650 Market St., a 61-story office tower owned by Chicago-based Metropolis Investment Holdings Inc.

*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 and advisory 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.

Philly Office Market Sees a Slowdown

Philadelphia Office Market Sees Slowdown in Leasing Recovery

After a period of noteworthy leasing recovery since mid-2021, the Philadelphia office market has hit another setback.

Business decisions, and subsequently leasing momentum, have given way to inflationary measures and economic uncertainty in recent months. The past two quarters have recorded the lowest leasing levels since the height of the pandemic.

After recovering to 80% of pre-pandemic levels in 2021, the annual leasing volume fell to 70% recovery levels in 2022 due to a weak fourth quarter. 

This year is already off to a rocky start, and given current economic headwinds, performance is unlikely to keep up with the recent leasing recovery for the remainder of 2023.

*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 and advisory 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.

Bank Collapse Triggers Office Downgrades

Alarms Ringing for Office Market, Bank Collapse Triggers Office Downgrade, Bank of America Bullish on Multifamily

Alarms Ringing for Office Market: When the loan on Philadelphia’s largest stand-alone office building at 1500 Market St. moved to special servicing in August, it didn’t register much alarm at the time, according to a new report by Morningstar Credit Information & Analytics. After all, the property’s performance metrics were significantly below underwritten expectations for a loan securitized in commercial mortgage-backed securities deal JPMCC 2020-MKST.

But then, a loan on Wells Fargo Center at 1700 Lincoln St. in Denver that’s included in CMBS deal MSC 2019-NUGS transferred to special servicing after the borrower decided against seeking an extension in January. And in another case, Brookfield DTLA disclosed it defaulted on loans for two downtown Los Angeles office towers rather than enact an extension option.

Now, capital markets are acutely aware that the office market is coming under new stresses.

*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 and advisory 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.

Penn State Puts Two Philly Navy Yard Buildings For Sale

Philly Navy Yard Buildings For Sale

Penn State University has listed two Philadelphia Navy Yard buildings totaling 65,057 square feet for sale as the school relocates remaining offices at the locations elsewhere.

The buildings had been used for academic programming, research, startup incubator space and events. Those uses have already moved out while some administrative offices remain but will also eventually relocate. 

Penn State spokesperson Wyatt DuBois said the school is selling the properties because they have been underused. Penn State is still planning where the administrative offices will move, he said. 

The pair of two-story buildings for sale are at 4960 S. 12th St., also known as Building 661, and 1101 Kitty Hawk Ave., or Building 7R. The two buildings face each other with South 12th Street in between. League Island Park is just north of Building 7R and the Delaware River is two blocks to the south.They could be sold together or separately, said CBRE broker Robert Fahey, who has the listing. 

*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 and advisory 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.

College of Physicians Acquires Historic Chestnut Street Property

College of Physicians acquires historic Chestnut Street property for $9.3M as it works to expand campus

A historic Center City institution has acquired two neighboring buildings in an effort to expand its educational programs and community services. 

The College of Physicians of Philadelphia, located at 19 S. 22nd St., purchased the nearby property at 2129 Chestnut St. for $9.275 million from Corporate Facilities Inc., a workspace designer and furniture manufacturer based out of Pennsauken, New Jersey. The sale was finalized within the last month, according to the nonprofit’s CEO Dr. Mira Irons. 

The property was designed in 1881 by Theophilus Parsons Chandler, the founder of the University of Pennsylvania’s School of Architecture, and was originally the Church of the New Jerusalem. It has 21,700 square feet of office space across two interconnected buildings. 

*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 and advisory 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.

WCRE Completes 6,044 SF Office Lease on Market Street, Philadelphia

1700 Market Street, Philadelphia, PA

WCRE is proud to have exclusively represented Oscar Technology, in the leasing of 6044 square feet of office space located at 1700 Market Street, Philadelphia, Pennsylvania from 1700 Market Street Associates LLC, an affiliate of Shorenstein Realty Services, L.P.

Oscar Technology is an award-winning technology recruitment company. Oscar provides outstanding digital and technology recruitment services and have strong, long-standing relationships with their candidates and clients. Their employees know how to fill tech and digital roles, and who the best candidates are to fill them.  They offer an exceptional recruitment experience, for all candidates and clients, from start to finish.​ Oscar Technology is based in London, with offices in Manchester England, Amsterdam, Austin TX, Houston TX, and Philadelphia, PA. This geographical footprint provides the means to increase their database of candidates and clients daily.

1700 Market Street is a Class A thirty two story, 848,000 sq. ft. office building at 1700 Market Street in Philadelphia.  Built in 1970, 1700 Market has undergone renovations several times throughout its history, which has enabled the building to remain competitive and viable for top quality and prestigious companies to locate offices.  Shorenstein, its current owner, renovated the lobby and common areas over the past five years along with other essential upgrades.  Shorenstein also has added a state of the art amenity center on the 6th floor, which features a large conference training center, tenant only lounge, roof deck and first class fitness center. 1700 Market features the largest parking garage on Market Street with over 670 spaces.  1700 Market is home to numerous prestigious tenants such as; Deloitte, Reliance Standard Insurance, and AECOM.

Todd Monahan, Executive Vice President and Managing Director at WCRE exclusively represented the tenant in this transaction.

Alterra Property Group Market Street Deal Falls Through

Alterra Property Group Deal Falls Through

Alterra Property Group’s deal to buy the office building at 1701 Market St. from LXP Industrial Trust, with plans to convert it into apartments, has fallen through.

Philadelphia-based Alterra went under contract on the Center City property in the fall, Alterra Managing Partner Leo Addimando said. The company terminated the contract three weeks ago, said Addimando, citing rising development costs. 

The 305,170-square-foot, 18-story building has been the longtime Morgan Lewis & Bockius headquarters. The law firm is vacating the entire property and moving to a new 19-story building at 2222 Market St. in late summer or fall.

*Article courtesy of Philadelphia Business Journal

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

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

Please visit our websites for a full listing of Philadelphia commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.