Office space in Philadelphia is springing up with many major real estate developments, and Center City is undeniably at its center. For a couple of years, the city has been observing the development of level it hasn’t seen since the construction of Liberty Place towers during the late 1980s. And the same trend will continue for next few years. So says the latest Center City Development report on office space in Philly prepared by CenterCityPhila.org.
Be it Philadelphia commercial properties, Philadelphia commercial real estate or Philadelphia commercial real estate listings, every sector is being transformed with a number of new Philadelphia office space projects. The CenterCityPhila.org report features over 60 ambitious Philly office space projects of different sectors proposed to be built between 2014 and 2018. Some have already been completed, many are under way, and some are yet to begin. But undoubtedly, this development phase will change the Philly and life here forever and for better.
Some of the most eye-catching projects involving office space in Philadelphia are Comcast Innovation & Technology Center, a 1,121 feet tall skyscraper; Children’s Hospital of Philadelphia at South Street, which will house a research staff of 1000+; a 51-story hotel building with 460 rooms divided among two hospitality brands; Penn’s Landing Park, spanning across 11 acres; Renaissance Plaza, a residential complex of 1,398 units, and many more.
With all the new Philadelphia office space projects under way, certainly a huge number of employment opportunities will be created in time to come. This in effect will attract thousands of people to the City of Brotherly Love from not just the US but from across the world, all looking for Philadelphia commercial properties, Philadelphia commercial real estate and Philadelphia commercial real estate listings. Meanwhile, there are plenty of alluring Philly office space opportunities for real estate investors in Philadelphia, especially in the residential sector.
However, it isn’t just the pace of construction of office space in Philly that has picked up recently that fascinates investors. There are many other factors that make Philadelphia an ideal place to develop and invest in real estate properties.
For instance, there is no property tax for first 10 years on new constructions in Philadelphia. Philadelphia is also among that handful of cities where the housing market is still stable, while the entire country is whining about a tight housing market and steeply rising house prices. Additionally, the markets involving Philadelphia commercial properties, Philadelphia commercial real estate and Philadelphia commercial real estate listings are among top 10 cities with highest rental return rates.
For more information about Philadelphia office space or any Philadelphia commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com), Leor Hemo (leor.hemo@wolfcre.com) or Lee Fein (lee.fein@wolfcre.com) at Wolf Commercial Real Estate, a premier Philadelphia commercial real estate broker that specializes in office space in Philly.
Wolf Commercial Real Estate is a Philadelphia commercial real estate brokerage firm that provides a full range of Philadelphia commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.
Wolf Commercial Real Estate, a Philadelphia commercial real estate broker with expertise in Philadelphia commercial real estate listings and services, provides unparalleled expertise in matching companies and individuals seeking new Philadelphia office space with the Philadelphia commercial properties that best meets their needs. As experts in Philadelphia commercial real estate listings and services, the team at our Philadelphia commercial real estate brokerage firm provides ongoing detailed information about Philadelphia commercial properties to our clients and prospects to help them achieve their real estate goals. If you are looking for Philly office space for sale or lease, Wolf Commercial Real Estate is the Philadelphia commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.
