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 »
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 »
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 »
Office tour activity is gaining momentum in Philadelphia as tenants seek larger, higher-quality spaces. Reflecting renewed confidence in the market, Brandywine Realty Trust has acquired its joint venture partner’s stake in the mixed-use tower at 3025 John F. Kennedy Blvd., investing $70.5 million to become the sole owner. The 570,000-square-foot property, featuring both office and… Read more »
Brandywine Realty Trust has acquired full ownership of 3025 John F. Kennedy Blvd. in University City after purchasing its joint venture partner’s remaining stake for $70.5 million. The deal gives Brandywine complete control of the 570,000-square-foot mixed-use tower. The Philadelphia-based REIT previously held a 66% interest in the recently completed property, with a global institutional… Read more »
