Skip Ribbon Commands
Skip to main content

United States | Philadelphia, PA

Report | Philadelphia CBD Office Insight - Q4 2015


Vacancy rates in Philadelphia’s CBD are currently the best they’ve been in nearly a decade—with robust leasing, major absorptions and in-market expansions continuing to drive vacancies downward. 2015 saw the market finish the year with a staggeringly low 8.5 percent overall vacancy rate.

With that low rate making large blocks of space hard to come by, a development pipeline has opened in the CBD that’s expected to deliver 12 blocks of Class A space and 2 blocks of Class B space between 50,000-100,000 square feet by 2017.

Rents continue to rise and landlords are making increased demands for new deals. Market East alone saw a 7.3 percent jump for Class A space year-over-year, although Market West led all top submarkets with a 4.8 percent overall annual increase.

Learn more about what’s happening—and what we expect to occur in the coming months—across the Philadelphia CBD office market in our Q4 US Office Insight.

To access the report, simply complete the form.

Please fill out the form to access the report.
Trouble downloading? Please click the following link.