A legal dispute has emerged between developers Dean Adler and Bill Glazer over the Bourse redevelopment. As a result, the partnership behind the project has begun to unravel. Emails filed in Delaware court documents show tensions escalating between the two parties. In particular, disagreements intensified after a December exchange. At the same time, project delays… Read more »
A South Philadelphia property long occupied by the Show & Tel strip club has been sold. As a result, a new use is expected for the site. The building is located at 1900 South Christopher Columbus Boulevard. For more than three decades, the property was operated as an adult entertainment venue. Recently, the business was… Read more »
Philadelphia has emerged as the fastest-growing market for office-to-residential conversions in the United States. Over the past year, the city’s conversion pipeline expanded from 1,200 units to 2,697 units. This marks a 119% increase between February 2025 and February 2026, according to data from RentCafe. While larger markets still lead in total unit counts, Philadelphia… Read more »
A fully leased suburban Philadelphia office property is heading to market. The asset is anchored by pharmaceutical giant Cencora. PRP Real Assets, based in Washington, D.C., has listed the 429,120-square-foot building at 1 West First Avenue in Conshohocken, Pennsylvania for sale. The 11-story property was developed as a built-to-suit headquarters for Cencora. The building was… Read more »
Cigna is continuing to shrink its real estate footprint. The latest move involves shedding more than half of its office space in a Center City Philadelphia tower. The Bloomfield, Connecticut-based insurer downsized its space at Two Liberty Place. Cigna now occupies less than 165,250 square feet following a recent lease renewal. The reduction removes nearly… Read more »
Brandywine Realty Trust has secured $87.3 million in C-PACE financing for its life sciences building at 3151 Market Street. As a result, the deal marks the largest C-PACE loan in Pennsylvania history. The 472,000-square-foot property was completed in late 2024. Meanwhile, leasing activity has remained limited. As of October, only retail tenants Fine Wine &… Read more »
RSM US LLP has signed a long-term lease to relocate its Philadelphia office to 1735 Market Street. The firm will occupy 22,340 square feet, moving one block from its current location. RSM will relocate from 25,827 square feet at Duane Morris Plaza, located at 30 South 17th Street. The new office will span the entire… Read more »
Community Legal Services has signed a 13-year lease for 32,500 square feet at 123 S. Broad Street in Philadelphia. The nonprofit will relocate from its longtime office at 1424 Chestnut Street in mid-2026. Approximately 35,000 square feet will be vacated after more than 30 years at the Chestnut Street location. The new lease provides occupancy… Read more »
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 »
