Horn Williamson has expanded its Center City office by 50%. The construction law firm now occupies an entire floor at One Commerce Square. The firm moved last week to the 32nd floor at 2005 Market St. It signed a 10-year lease with Brandywine Realty Trust. Previously, it occupied two suites totaling 9,700 square feet at… Read more »
KPMG will add another full floor at 1735 Market Street as the firm responds to rising client needs and growing in-office activity. Office attendance in Philadelphia has increased 56% since 2023, and demand continues to climb. The expansion will increase KPMG’s footprint by 25%. The firm will grow from 97,000 square feet to 122,000 square… Read more »
Philadelphia continues to trail most major U.S. markets in the absorption of large-block office space, with availability declining by only 1.6% from its peak. This modest reduction — representing spaces of 100,000 square feet or more in Class A buildings — underscores the region’s sluggish leasing activity compared to other thriving cities. Among major metros,… Read more »
Starr Insurance is set to significantly expand its presence in Center City Philadelphia, leasing the entire 31,600-square-foot top floor of 30 S. 17th Street, also known as Duane Morris Plaza. The move represents a 66% increase in space for the New York-based insurance and investment firm, which currently occupies about 19,000 square feet at 1601… Read more »
The Philadelphia commercial office market has experienced a major shift in buyer activity over the past 12 months, with private investors and end users stepping in as traditional institutional players pull back. Private buyers now account for 66% of office sales, up from a 10-year average of 51%. This 15-point increase represents the most significant… Read more »
Morgan Properties has received approval to move forward with plans for two new office towers along the Schuylkill River, directly next to its recently established Conshohocken headquarters. On Monday, the borough’s Zoning Hearing Board granted the company zoning variances that clear the way for the development. The project, to be built behind the existing Millennium… Read more »
A 296,000-square-foot office building at 1635 Market Street in Philadelphia’s central business district has seen its assessed value reduced by more than half following multiple appeals, underscoring the financial pressures facing under-occupied office properties. Originally assessed at $62.2 million for tax years 2023 and 2024, the building’s value was ultimately lowered to $35.8 million in… Read more »
A Brooklyn-based investment firm has acquired a fully leased Northeast Philadelphia office building for $21 million, according to public records. The 130,000-square-foot property, located at 13000 Townsend Road, is currently occupied by the U.S. Department of the Treasury’s Bureau of the Fiscal Service, which recently extended its lease for an additional five years through late… Read more »
Chubb has listed its 330,000-square-foot office building at 436 Walnut St. in Old City as it prepares to relocate to its new headquarters next year. Located at the southeast corner of 5th and Walnut streets, just a block from Independence Hall, the 12-story property is zoned CMX-4, allowing for a mix of residential and commercial… Read more »
While many companies are downsizing, Power Home Remodeling is doubling down on in-person culture. The company has signed a 12-year, 250,000-square-foot lease at the Wharf at Rivertown in Chester — marking one of the largest office deals in the Philadelphia region since the pandemic’s shift to remote work. The lease expands Power’s footprint by 65,000… Read more »
