- A total of 6.00 MSF of office space was leased across Greater Philadelphia in 2025, a slight decline from 6.69 MSF in 2024, representing a 10.1% year-over-year decrease in annual leasing volume.
- Despite the decline in annual volume, there has been a notable increase in deal size over the past twelve months. Multiple large-format leases were signed in 2025, including seven deals signed for 100 KSF+ of space. Consulting, legal, and financial services were the primary industries driving this demand.
- While tenant demand remains primarily focused on Trophy and Class A space, limited availability in these assets has redirected requirements toward Class B assets, which have largely been overlooked over the past few years.
Greater Philadelphia office leasing volume in 2025 fell short of 2024 total volume, despite larger deal sizes and healthy tenant demand
Greater Philadelphia office leasing volume
February 23, 2026
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