Philadelphia office buildings face a potentially landscape-altering shift that could shape the market for years to come.

Decreased occupancy rates have reduced leasing income for landlords to pay off commercial mortgages on their office buildings, many of which have suffered significant losses in property value since the start of the pandemic. That spells danger for property owners with millions of dollars in loan balances coming due, putting them at risk of losing possession of the buildings.

*Article courtesy of Philadelphia Business Journal

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