Fresh Name Rises on the Philadelphia Skyline

Fresh Name Rises on the Philadelphia Skyline

Chubb has officially made its mark on Philadelphia’s skyline. Over the weekend, the insurance giant’s name was installed atop its future headquarters at 2000 Arch St. in Center City. The 18-story, 438,000-square-foot office building, developed by Parkway Corp. on a former surface parking lot, is set for completion in the second quarter of 2026.

The $430 million build-to-suit project will house 3,200 employees, including 1,250 new jobs for Philadelphia. Designed to meet LEED Platinum standards for sustainability, the building is being constructed by Turner Construction, with Iron Workers Union Local 401 playing a key role in the project. Chubb joins other major companies with prominent signage on the city’s skyline, including Jefferson at 1101 Market St., WSFS at 1818 Market, Aramark at 2400 Market St., and FMC at Cira Centre South, overlooking the Schuylkill River.

Upon completion, the Chubb building will stand as the largest office project under development in the Philadelphia region.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

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.

Ensemble Secures 50,000-SF Tenant for Vacant Main Line Building

Ensemble Secures 50,000-SF Tenant for Vacant Main Line Building

An Irish technology product developer has signed a long-term lease for 50,000 square feet in Wayne, relocating its local office four miles east while reducing its footprint by 38%.

TE Connectivity will move into 680 E. Swedesford Road by January 2026, occupying the first two floors of the four-story, 102,000-square-foot building, which is set for a major renovation. The move marks a reduction from the company’s current 80,000 square feet at 1050 Westlakes Drive in Berwyn, owned by Brandywine Realty Trust.

A global leader with $16 billion in annual revenue and 85,000 employees, TE Connectivity (NYSE: TEL) relocated its headquarters from Switzerland to Ireland last year.

*Article courtesy of Philadelphia Business Journal

For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

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.

Wanamaker Foreclosure Nears Key Milestone Ahead of Auction

Wanamaker Foreclosure Nears Key Milestone Ahead of Auction

A Philadelphia court ruling on Jan. 31 sided with lender TF Cornerstone in the Wanamaker building foreclosure case, eliminating the need for a trial. The decision puts the historic Center City office building on track for auction as TF Cornerstone moves to take control from Rubenstein Partners. The court partially granted TF Cornerstone’s motion for summary judgment on Rubenstein’s liability. In a November filing, TF Cornerstone claimed Rubenstein owed nearly $126 million on the loan for the 114-year-old property. A hearing to assess damages is set for Feb. 25.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory 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.

FS Exit Fuels Ensemble’s Navy Yard Optimism

FS Exit Fuels Ensemble’s Navy Yard Optimism

Mark Seltzer, who has leased office space at the Philadelphia Navy Yard since 2006, has never been more optimistic. According to Seltzer, managing director at Ensemble Investments, 2021, 2022, and 2024 were the Navy Yard’s top office leasing years in two decades. Today, only 2,800 square feet remain available in Ensemble’s 300,000-square-foot Navy Yard portfolio. That will change in early 2026 when FS Investments vacates 201 Rouse Blvd., an 80,000-square-foot building, for University City. While Seltzer regrets their departure, he’s confident about filling the space.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory 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.

FS Investments Moving HQ to Schuylkill Yards

FS Investments Moving HQ to Schuylkill Yards

FS Investments is relocating from the Philadelphia Navy Yard to Brandywine Realty Trust’s new $300 million mixed-use tower at 3025 John F. Kennedy Boulevard in Schuylkill Yards. The 16-year lease will expand FS’s space by 46%, from 80,000 to 117,000 square feet, across four floors in the 28-story tower. FS plans to move nearly 300 local employees by January 2026.

This move marks FS’s third use of Keystone Opportunity Zone tax credits. CEO Michael Forman emphasized that without access to a KOZ building near 30th Street Station, the company might have relocated its headquarters out of Philadelphia. The new space, near major employers like the University of Pennsylvania and Drexel University, offers proximity to transit and high-demand amenities.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory 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.

Bucks County Office Park Sells for $16M

Bucks County Office Park Sells for $16M

A Bucks County medical office park near Oxford Valley Mall and Sesame Place has sold for more than double its 2015 price. Aventura, Florida-based ESJ Capital Partners purchased the 152,310-square-foot, nine-building Oxford Court portfolio in Langhorne for $16 million. The seller, SkyREM of Philadelphia and New York, originally acquired the property for $7.82 million in August 2015, according to Bucks County records. SkyREM renovated the portfolio in 2016. The buildings are over 70% leased to tenants including Quest Diagnostics, DaVita, LabCorp, and the American Red Cross.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory 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.

Ten Penn Center Office Tower Up for Sale

Ten Penn Center Office Tower Up for Sale

The 27-story Ten Penn Center office tower in Center City is hitting the market. Owners Sterling Equities and Greenville Partners are listing the 668,000-square-foot building at 1801 Market St. The property, built in 1981 and purchased for $75 million in 2006, was most recently assessed at $122.8 million. It is currently 60% occupied, per CoStar.

JLL brokers marketing the tower highlight it as the largest Market Street office building to hit the market since the pandemic. They are promoting potential for a partial residential conversion on the upper floors and leasing opportunities for office and retail space below.

Morgan Lewis & Bockius vacated 105,000 square feet of back office space last year after relocating to its new headquarters at 2222 Market St.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory 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.

Centre Square Likely to Sell to Cover $375M Debt

Centre Square Likely to Sell to Cover $375M Debt

After two years of foreclosure proceedings with little clarity on Centre Square’s future, the property’s receiver now says a sale is “very likely.” Owners Nightingale Properties and InterVest Capital Partners, formerly Wafra Capital Partners, owe over $375 million on the overdue CMBS loan backing the 1.76 million-square-foot office complex, court records show. Wells Fargo Bank filed a foreclosure complaint on behalf of investors in January 2023, placing the Center City property in receivership three months later. Since then, little progress had been made.

On Jan. 6, CBRE, the court-appointed receiver, filed a motion in U.S. District Court for the Eastern District of Pennsylvania indicating it is preparing to sell 1500 Market St. The motion seeks to remove court requirements CBRE believes could hinder securing the best possible price.

*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory 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.

Prologis sells Navy Yard data center for $16M

Burlington County Superior Court
A West Coast firm expanding in Philadelphia has acquired a Navy Yard data center for $16.3 million. Landmark Dividend, an El Segundo, California-based investment firm, purchased the 28,083-square-foot property at 4775 League Island Blvd. from Prologis, which acquired it through its 2020 purchase of Liberty Property Trust. The building is fully leased to TierPoint, a St. Louis-based IT company. Karlton Holston, Landmark’s EVP of data centers, highlighted the facility’s potential to add capacity and value. Landmark specializes in data centers, cell tower ground leases, and billboards, with over 6,800 transactions worth $4.5 billion since 1985. Holston noted the strong demand in the data center market.
*Article courtesy of Philadelphia Business Journal
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory 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.

Philadelphia’s Office Market Begins to Recover After Five Years of Weak Demand

Philadelphia's Office Market Begins to Recover After Five Years of Weak Demand

After five years of declining demand, Philadelphia’s office market is showing early signs of stabilization as 2025 begins. While not yet in recovery, recent data indicates a positive shift. For the first time since 2018, annual net absorption—measuring move-ins versus move-outs—has turned positive, with office occupancy rising by 615,000 square feet across the Philadelphia metro area.

From 2019 to 2023, local businesses vacated 7.6 million square feet of office space amid uncertainties about the future of work. Though recent gains don’t fully offset those losses, they mark a critical step toward stabilization and eventual recovery. Interestingly, this improvement occurred alongside a decline in demand from life science companies, which had been a key driver for the market. This suggests that traditional office sectors are stabilizing independently of life sciences.

*Article courtesy of Costar
For more information about Philadelphia office space for sale or lease or about any other properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory 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.