Philadelphia’s office market reflects a tale of two cities, showcasing pre-existing challenges and those emerging post-pandemic.
For over a decade, the Philadelphia suburbs have struggled with high office availability rates, significantly exceeding historical averages. This surplus of office space has become the norm for suburban areas.
Conversely, the abundance of available office space in the suburbs contrasts sharply with the situation in Philadelphia’s central business district. Formerly boasting the region’s lowest availability rate, Center City now leads with an 18.1% availability rate, equating to 12.1 million square feet of office space for lease. In contrast, the suburbs, spanning a larger area, exhibit a 16.6% availability rate, representing 23.2 million square feet available on the market.
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.
