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 »

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 »

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 »

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 »