Early signs may be surfacing of a resurgence in Independence Hall’s office market in Philadelphia. Throughout 2015 and 2017 Independence Hall was an outlier with noticeably higher vacancies than other submarkets in and around the Philadelphia office space central business district (CBD) such as Market Street West and University City. These higher vacancies were caused… Read more »
Posts Categorized: Philadelphia office space
Market Knowledge Creates Higher Returns
Over the past several years, the investment market within the Philadelphia and Southern New Jersey region has grown extremely competitive. Market trends show a majority of investors are looking within the Philadelphia region seeking higher upside values and returns. These investors are typically searching for 8% + returns on investments. This has become increasingly challenging… Read more »
A Closer Look at Center City Philadelphia’s Tightest Office Micro Markets
Most Philadelphia office space brokers and investors consider Market Street West – the portion of Market Street running from City Hall to 21st Street – as Center City’s premier office district, and with good reason. Public transit access is exceptional along that corridor, which is home to more than 12 million square feet of Philly… Read more »
U.S., Philly Office Markets Expected to Grow Throughout 2018
The U.S. office market, including Philly office space property, continued to benefit from strong fundamentals going into 2018, despite continued deceleration in net absorption, occupancy, and rental rate growth. With robust corporate profits and continued office-using job growth, that trend is expected to hold through the year as the recently approved tax cuts and expected… Read more »
Two Units of Philly Office Space for Sale in Doylestown PA
Wolf Commercial Real Estate, a leading Philly commercial real estate broker that specializes in Philly commercial real estate listings and services, now has Philly office space for sale at 403 Hyde Park and 411 Hyde Park located at 3900 Mechanicsville Road in Doylestown. Sitting directly on U.S. 202 at Mechanicsville Road, this office space for… Read more »
Centre Square – Philly’s “Clothespin” Building – Sold for $328 Million
Centre Square, the 1500 Market Street Philly office space complex best known for Claes Oldenburg’s giant “Clothespin” art sculpture in its front plaza, was sold for $328 million this month to New York-based Nightingale Properties, according to Philly.com. The website called the deal the largest office transaction based on square footage in Philadelphia office space… Read more »
Philly Office Space Vacancy Rate Drops Below 9 Percent
The Philadelphia office space market ended the first quarter 2017 with a vacancy rate of 8.7%. The vacancy rate across all Philly office space properties was down over the previous quarter, with net absorption totaling positive 173,096 square feet in the first quarter. That compares to positive 1,080,044 square feet in the fourth quarter 2016…. Read more »
Philly Office Space for Lease in Blue Bell
Wolf Commercial Real Estate, a premier Philly commercial real estate brokerage firm with expertise in Philly commercial real estate listings and services, is now offering Philly office space for lease at 930 Harvest Drive Blue Bell PA. This Philly professional office space for lease is in a four-story Class A office building. There is 2,000-24,742… Read more »
Well-Located Philly Office Space for Lease in the Monroe Office Center
Wolf Commercial Real Estate, the foremost Philadelphia commercial real estate brokerage firm with experience in Philadelphia commercial real estate listings and services, now has available leasing opportunities at well-located Philly office space for lease in the Monroe Office Center at 1 Winding Drive Philadelphia PA. Suites at this Philadelphia office building for lease are available… Read more »
U.S. and Philly Office Space Experience Phenomenal Sales Year in 2015
The year 2015 was a phenomenal year for sales in the U.S. office space market, including the Philly office space market. The U.S. office market, in fact, registered its best year since 2007, thanks in part to increased demand and constrained levels of construction that led to tightening space availability in metro areas nationwide. U.S…. Read more »
