While many major U.S. office markets continue to struggle, Philadelphia has emerged as the most stable among the 15 largest, boasting the lowest office availability rate at 14.1% and one of only three markets with positive absorption over the past year.
-1.2M SF of net absorption in the last 12 months
– Outperforming the national recovery trajectory
-Strengthened by a diverse economy (education, healthcare, government)
-Limited speculative office development has helped avoid oversupply
Philly’s momentum is a strong sign of resilience in an evolving market.
What do you think? Will this trend continue? Let’s discuss.
Source: CoStar Insight, Philadelphia pulls ahead of nation’s office recovery in 2025 by Brenda Nguyen
