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Office Insight

United States | Philadelphia, PA

Report | Philadelphia CBD Office Insight - Q1 2017

Summary

​Absorption in Philadelphia’s CBD was sluggish again during Q1. A large block of small deals, modest tenant expansion and some key departures all played a part in the disappointing -89,482 s.f. net absorption figure. To accelerate activity in the urban core, the City of Philadelphia has launched a program dubbed Gateway Philly that offers suburban companies incentives to move downtown. 

Tenants looking for quality, large-block options will have plenty of options. Approximately 750,000 square feet remains available in recently delivered or under-construction buildings.

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