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Office Insight

United States | Philadelphia, PA

Report | Philadelphia CBD Office Insight - Q3 2017

Summary

​Asking rental rates remain about $30 per square foot, despite falling 2.4% from Q2 levels. The leasing of high-end availabilities and a number of large blocks in older Class A buildings contributed to this effect.

More than 700,000 square foot of unclaimed Class A space will deliver over the next 12 months and the market must pick up to avoid a spike in vacancy.

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