The Philly office space market received, during the fourth quarter of 2014, two new office buildings totaling 343,850 square feet, according to the CoStar Group’s newest market trend report. This was in contrast to the third quarter 2014 when two buildings that add up to 219,036 square feet were finished in the Philadelphia office space… Read more »
Posts Categorized: Philly Office Space
Strong Demand for U.S. Office Space Expected through 2016
Demand for U.S. office space is predicted to continue at post-recession highs for two years, thanks to declining vacancy rates and rising rents in an increasing number of submarkets, a new report from the CoStar group says. A CoStar Portfolio Strategy analyst, reporting in CoStar’s State of The U.S. Office Market 2014 Review and Forecast,… Read more »
Philadelphia Office Space Vacancies Steady at End of Fourth Quarter
Vacancies for the Philadelphia office space market remained stable at year end 2014, finishing the fourth quarter at 10.8%, a new market trend report from the CoStar Group said. The fourth quarter’s Philly office space vacancy rate was the same as the third quarter’s vacancy rate, according to the CoStar Group’s Fourth Quarter 2014 Market… Read more »
Philly Office Space Deliveries, Construction and Inventory
The market for Philly office space saw two new office buildings totaling 219,036 square feet delivered in the third quarter 2014, according to the CoStar Group’s newest market trend report. This was down from the second quarter 2014 when nine building totaling 455,834 square feet were complotted in the Philadelphia office space market, CoStar said…. Read more »
Philly Office Space Vacancy Rate Steady at 11%
The vacancy rate for Philly office space remained steady in the third quarter 2014, ending the quarter at 11% for the Philadelphia office space market, according to a new market trend report from the CoStar Group. The vacancy rate was unchanged from the second quarter 2014, according to CoStar’s Third Quarter 2014 Market Report. Net… Read more »
New Subsidies for East Market Project in Philly Office Space Market
The Philly office space market got a boost this week with a new infusion of subsidies for the much-anticipated East Market project in Center City Philadelphia. The state of Pennsylvania has earmarked another $2.5 million in Redevelopment Assistance Capital Program (RACP) funds and the City of Philadelphia has committed $4 million in city funds to… Read more »
Philadelphia Office Space Deliveries, Construction And Inventory
Seven new office buildings totaling 413,734 square feet were completed in the Philadelphia office space market in the second quarter of 2014, according to the latest market trend report from the CoStar Group. As a comparison, first quarter 2014 deliveries to the Philly office space market amounted to 121,952 square feet in four buildings. Another… Read more »
Philly Office Space Vacancy Rate Drops
The Philly office space vacancy rate dropped in the second quarter 2014, closing the quarter with a vacancy rate of 10.9% for the Philadelphia office space market, according to the CoStar Group’s newest market trend report. Net absorption totaled positive 876,918 square feet of office space in Philly in the second quarter 2014. In comparison,… Read more »
WCRE REPORT: NEW INVESTMENT, SMALL BUSINESS EXPANSION STRENGTHEN SOUTHERN NEW JERSEY COMMERCIAL REAL ESTATE MARKET
July 8, 2014 – Marlton, NJ – The Southern New Jersey office market seems to have shifted from recovery mode toward the first steps of real growth, according to the latest analysis by Wolf Commercial Real Estate (WCRE). The firm’s quarterly market report finds a mix of mostly positive trends during the second quarter, making… Read more »
Developers Acquire Center City East End Buildings In Philly Office Space Market
Three Philadelphia commercial real estate investors have quietly purchased buildings in the Philly office space market in Center City’s east end, investing over $300 million in what they believe will be the next hot market in Philadelphia, according to the Philadelphia Business Journal. Keystone Property Group and Mack-Cali Realty Corp., which acquired the Curtis Center… Read more »
