Philadelphia has seen a steady rise in office building sales, as more buyers reenter the market in search of good value. In the first quarter of 2025, 245 office properties changed hands — a nearly 25% increase compared to the same period in 2024.
Since January 2024, about 6.2% of the city’s 17,650 office properties have been sold, slightly outpacing transaction activity in the region’s retail (5.5%) and industrial (5.6%) sectors.
The primary driver behind this uptick is declining pricing. Despite ongoing challenges in the office market, many buyers are seizing the opportunity to acquire properties at more affordable rates.
Office values in the city have dropped significantly since their 2021 peak of nearly $200 per square foot. By mid-2025, the average had dipped to just under $154 per square foot — a 23% decline. Current pricing reflects levels not seen in over a decade, making the market especially appealing to investors and users alike.
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.
