Figures
Philadelphia Office Figures Report Q1 2025
Strategic Repositioning and Trophy Spaces Pave the Way for Office Market Recovery
April 4, 2025 2 Minute Read
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- Recovery in the Philadelphia office market: The market showed signs of near-term recovery in Q1 2025, driven by a decrease in vacancy rates and sustained leasing activity, with notable deals contributing to positive absorption.
- Increased capital market activity: The market saw a surge in capital market activity, with several properties changing hands, indicating that investors are becoming increasingly confident in the Philadelphia office market.
- Shift towards alternative uses: The market is seeing a continued shift toward alternative uses, such as conversions to residential or repurposing of underutilized office assets, potentially unlocking new opportunities for the market.