Posts Tagged: Office

LevLane Relocates, Downsizes, and Joins Tenant Exodus from Wanamaker Building

LevLane Moves from Wanamaker Building to One Logan Square Amid Tenant Exodus

LevLane, a long-time resident of the Wanamaker building, has shifted its Center City headquarters to One Logan Square, reflecting the ongoing trend of businesses downsizing and seeking more appealing office spaces in light of the rise in hybrid and remote work arrangements. This transition took place over the summer, and the advertising agency now occupies… Read more »

Rodin Place in Philadelphia Has Multiple Office Suites For Lease

Rodin Place, 2000 Hamilton Street, Philadelphia, PA

Wolf Commercial Real Estate (WCRE) is thrilled to announce that it has been appointed as the exclusive leasing agent for the prestigious Rodin Place, located at 2000 Hamilton Street in Philadelphia, Pennsylvania. Strategically nestled within the vibrant and culturally rich neighborhoods of Fairmount and the Art Museum of Philadelphia, Rodin Place stands as an exceptional… Read more »

Over 70% of Office Development Underway in Philadelphia

Downtown Philadelphia Accounts for Bulk of the Region’s Office Construction

The Philadelphia region has 21 office properties under construction totaling over 3.7 million square feet, as of the third quarter of this year. Over 70% of the new office development is concentrated in two downtown areas: University City and the Market Street West section of Center City. University City alone accounts for 1.2 million square… Read more »

Center City District Relocates Offices

Center City District Relocating Offices to the Land Title BuildingBusiness

Center City District, an organization that operates the Center City business improvement district dedicated to enhancing the cleanliness, quality of life, and economic prosperity of downtown Philadelphia, will be relocating its office to ASI Management’s Land Title Building at 100 S Broad St., where it leased 26,173 square feet. The business improvement district operator will… Read more »

Prominent Center City Buildings Face Possible Default

3 Center City office buildings face possible default as tenants leave, loans come due

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… Read more »

Digitas Inc. Moving Out of Philly Wanamaker Building

Digitas Inc. moving their office out of the Philadelphia Wanamaker building

Digitas Inc. is cutting in half its Philadelphia office space as the health care advertising agency moves from the Wanamaker Building to the Bourse in Old City. Digitas’ lease for 108,619 square feet in the historic Wanamaker expires in November. The company is taking about 55,000 square feet of space at the Bourse. *Article courtesy… Read more »

After 46 Years, Fox Rothschild is Relocating Center City Office

Fox Rothschild Relocating in Center City after 46 years

Fox Rothschild will be leaving its home of 46 years at 2000 Market St. — cutting more than 40% of its space in the process — to move across the street. The firm has signed a 15-year lease at Two Commerce Square at 2001 Market and will move in December 2024. Chairman Mark Morris said the firm… Read more »

Independence Health Group Looking to Sublease Center City Office

Independence Health Group looks to sublease up to 224,000 square feet of office space in Center City

Independence Health Group is looking to sublease a large portion, if not all, of the 224,000 square feet of office space it leases at 1900 Market St. across from its Center City headquarters.  The region’s dominant health insurer has used the space primarily for its AmeriHealth Administrators affiliate. The third-party health plan processor of more… Read more »

Center City Office Building Back Up for Sale

801 Market St. in Center City Philadelphia back up for sale

A historic building on Market Street in Center City is up for sale. Again.  The property for sale at 801 Market St. includes 11 stories of office space, or 703,466 square feet. The portion of the building for sale consists of floors three to 13. The building was built in 1931, renovated in 2002 and… Read more »

Morgan Stanley Extends Office Lease in Downtown Philly

Morgan Stanley's Philadelphia Office Extends Lease

Global financial services firm Morgan Stanley renewed the lease for its office space in downtown Philadelphia’s One Liberty Place. The lease covers Morgan Stanley’s 31,000-square-foot space on the 42nd floor at 1650 Market St., a 61-story office tower owned by Chicago-based Metropolis Investment Holdings Inc. *Article courtesy of Costar For more information about Philadelphia office space… Read more »