The future of Philadelphia’s iconic Centre Square complex has become increasingly uncertain as new buyers enter the race for the distressed property. Just months after a potential deal appeared close, additional bidders have surfaced for the massive Center City office complex. Their involvement now threatens to derail the proposed acquisition by local developers Dean Adler… Read more »
Philadelphia’s office market welcomed a major milestone this week as Chubb officially opened its new headquarters at 2000 Arch Street. The 438,000-square-foot tower reflects the company’s long-term commitment to both the city and in-person collaboration. By early afternoon Monday, the building’s cafeteria buzzed with activity. Employees gathered for lunch, held conversations with coworkers, and searched… Read more »
Bonduelle Americas has selected Philadelphia for its newest office location. As a result, the company plans to expand operations and add more than 100 jobs in the city. The plant-based food manufacturer evaluated more than 20 markets during its site search. Eventually, the company narrowed its options to Philadelphia, Boston, Chicago, Atlanta, and Chapel Hill…. Read more »
Center City Philadelphia is continuing its shift toward a more mixed-use future. As a result, office conversions are expected to play a major role in reshaping downtown. According to the latest “State of Center City” report, approximately 2 million square feet of office space is positioned for redevelopment. Most of the potential conversion activity is… 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 »
Philadelphia Legal Assistance (PLA) has signed a new lease in Center City Philadelphia. The nonprofit provides free civil legal services to residents who cannot afford representation. PLA secured 20,643 square feet at the historic Cast Iron Building. The organization will occupy the second and third floors at 718–720 Arch Street. The relocation positions PLA as… Read more »
CBS has renewed its office lease at 1500 Spring Garden Street in Center City Philadelphia. The broadcaster signed a long-term extension for 74,000 square feet. The lease includes 62,000 square feet on the sixth floor and 12,000 square feet in the lower level. The lower-level space supports the company’s vehicle fleet. CBS operates KYW-TV (CBS… 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 »
