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United States | Philadelphia, PA

Report | Philadelphia Suburbs Office Insight - Q4 2015

Summary

Real-world events are set to make a major impact on Philadelphia’s suburban office market, as the closing of a mail-order pharmacy by the federal government will bring more than 145,000 square feet of space back to market in Q1 2016.

However, it isn’t all bad news for Philadelphia-area landlords. The Q4 2015 sale of a 41-property portfolio to Workspace Property Trust for more than $245 million is expected to bring increased competition to market and an upward tilt to rent costs.

We expect Delaware County to be one of the overall big winners in 2016. With three major deals totaling more than 366,000 square feet inked in Q4 2015, large positive absorption is expected to continue there over the next 12 months.

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

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