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Office Statistics

United States | Philadelphia, PA

Report | Philadelphia Office Statistics - Q1 2011

Summary

Overall total vacancy rate for the market is 16.6%. Companies continued to migrate to quality in all the Philadelphia MSA submarkets, as the Class A market demonstrated positive net absorption of 460,622 square feet. The Philadelphia Suburbs posted the greatest positive absorption with 315,606 square feet absorbed during the first quarter. The Philadelphia CBD with the second largest positive absorption of 119,091 square feet has the lowest total vacancy rate of all the submarkets at 13.0%.

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