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 »
Kirkland & Ellis has leased 29,000 square feet at 2005 Market St., taking the entire 10th floor of One Commerce Square in Center City. The move suggests the world’s highest-grossing law firm is laying the groundwork for significant growth in Philadelphia after entering the market earlier this year. Despite currently listing only four Philadelphia-based attorneys… Read more »
After years of uncertainty surrounding the future of the iconic Wanamaker building, TF Cornerstone has officially taken full ownership following a foreclosure auction held Tuesday. The New York-based developer announced plans to convert a significant portion of the building’s office space into residential units as part of a major repositioning effort. With the acquisition, TF… Read more »
Philadelphia has seen a steady rise in office building sales, as more buyers reenter the market in search of good value. In the first quarter of 2025, 245 office properties changed hands — a nearly 25% increase compared to the same period in 2024. Since January 2024, about 6.2% of the city’s 17,650 office properties… Read more »
Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey, has been appointed the exclusive listing agent for 325 South 22nd Street, Philadelphia, Pennsylvania. The Philadelphia property is available for lease. The property contains +/- 1,500 square feet with a big room being 975 square feet, conference room being 110 square… Read more »
The 29-story, 668,335-square-foot office tower at 2000 Market St. is officially for sale — a move that could serve as a bellwether for post-pandemic office valuations in Philadelphia’s central business district. New York-based owner Nahla Capital has listed the property, which is currently 68% leased. According to CBRE listing agent Jerry Kranzel, early interest suggests… Read more »
The owner of 401 Market St. is seeking a discounted payoff on its $52 million debt after Wells Fargo’s exit left the building 28% occupied and pushed the loan into special servicing. With the loan maturing in October, Miller Investment Management hopes to negotiate a deal, highlighting the declining value of Philadelphia’s older office buildings…. Read more »
Philadelphia stands out as the most stable office market among the 15 largest U.S. markets heading into spring, with a year of occupancy gains bringing its office availability rate to 14.1%, the lowest in the nation, just ahead of Minneapolis at 14.2%. While most major markets struggle with rising vacancies, Philadelphia is one of only… Read more »
Elon Musk’s Department of Government Efficiency (DOGE) is scaling back the federal real estate footprint, putting office space in Greater Philadelphia on the chopping block. According to a list posted on the DOGE website Monday, nearly 20 government leases in the region have been canceled, totaling approximately 183,000 square feet and over $4.93 million in… Read more »
Wolf Commercial Real Estate, the leading commercial real estate and advisory firm in South Jersey has been appointed the exclusive listing agent for 1700 Market Street, Philadelphia, Pennsylvania 19103. The Philadelphia property is available for sublease. The property contains +/- 6,044 square feet, which could be utilized by retail and office users. Features of 1700… Read more »
