Figures
Philadelphia Office Figures Q3 2026
Occupancy softens but notable transactions point to future growth
October 6, 2026 2 Minute Read
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- Prime office rents in Greater Philadelphia reached $46.97, underscoring a strong "flight-to-quality" trend as occupiers prioritize modern, well-amenitized buildings over secondary assets.
- Philadelphia’s office vacancy hit 22.3%, but annual leasing activity (3.7 million sq. ft.) has already surpassed total yearly volumes from 2020 through 2024, showing a complex recovery.
- Corporate relocations, such as Burlington Stores to Philadelphia, represent significant capital investment and long-term economic commitment, providing a hedge against current market volatility.