Philadelphia office market reports

Q4 2025

1.47 MSF

Total leasing volume 

Total leasing volume in Q4 ’25 reached 1.47 MSF, a 10.4% decrease from the 1.64 MSF of leasing volume recorded in Q3 ’25.
$461Million

Total investment sales volume 

Total investment sales volume in 2025 measured $461 million, a 54.3% year-over-year (YoY) increase in total sales volume.
20.9%

Office availability continues its steady decline

Total space availability in Q4 2025 recorded a minor increase, rising 30 basis points (bps) from 20.6% in Q3 2025, to close 2025 at 20.9%.

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