Report | Philadelphia CBD Office Insight - Q3 2016
With uneven absorption numbers across Philadelphia's downtown submarkets in Q3, overall net absorption numbers were down, but that doesn't mean there weren't positives. University City saw more than 326,000 square feet of net absorption and Market East showed organic growth through a number of mostly smaller deals.
The arrivals of 1200 Intrepid in the Navy Yard and 34 S 11th in Market East brought those two submarkets their first Class A spec spaces in years. Both buildings are attracting tenants from nearby CBD properties while commanding market-topping rents.
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