Centre Square, Philadelphia’s largest office property, is being marketed for sale even as it remains tied up in an ongoing foreclosure case.
Located at 1500 Market Street, just west of City Hall, the 1.76 million-square-foot complex includes the 36-story East Tower, the 43-story West Tower, and a 450-space parking garage.
Once one of the city’s premier office addresses, Centre Square now faces steep challenges: more than 1 million square feet sit vacant, driving occupancy down to just 36%. The property has been in receivership for over two years.
According to CMBS filings, Centre Square was appraised at $223.5 million in September 2024—less than half its pre-pandemic valuation of $471 million in 2019.
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.
