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Commercial Real Estate in Philadelphia, PA - 488 Properties Available

  • 1845 Walnut Street - Philadelphia
    1845 Walnut Street, Center City West, Philadelphia, PA 19103
    For Lease $34/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 32,319 Sqft
  • 1500 Spring Garden Street - Philadelphia
    1500 Spring Garden Street, Logan Square, Philadelphia, PA 19130
    For Lease $22/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 17,089 Sqft
  • 1700 Market Street - Philadelphia
    1700 Market Street, Center City West, Philadelphia, PA 19103
    For Lease $20/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 19,838 Sqft
  • One Washington Square - Philadelphia
    510-530 Walnut Street, Society Hill, Philadelphia, PA 19106
    For Lease $26.5 - $30.5/Sqft/Year
    Property
    • Office
    Availability
    • 10 Spaces
    • 125,681 Sqft
  • PNC Bank Building - Philadelphia
    1600 Market Street, Center City West, Philadelphia, PA 19103
    For Lease $25/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 22,681 Sqft
  • One Commerce Square - Philadelphia
    2005 Market Street, Center City West, Philadelphia, PA 19103
    For Lease $16/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 5,121 Sqft
  • One Liberty Place - Philadelphia
    1650 Market Street, Center City West, Philadelphia, PA 19103
    For Lease Contact for pricing
    Property
    • Office
    Availability
    • 5 Spaces
    • 69,076 Sqft
  • Sterling Commerce Center - Philadelphia
    1819 John F. Kennedy Boulevard, Logan Square, Philadelphia, PA 19103
    For Lease $24.5/Sqft/Year
    Property
    • Office
    Availability
    • 3 Spaces
    • 25,173 Sqft
  • 833 Chestnut Street - Philadelphia
    833 Chestnut Street, Market East, Philadelphia, PA 19107
    For Lease $28/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 95,928 Sqft
  • 1818 Market Street - Philadelphia
    1818 Market Street, Center City West, Philadelphia, PA 19103
    For Lease Contact for pricing
    Property
    • Office
    Availability
    • 15 Spaces
    • 162,415 Sqft
  • 1429 Walnut Street - Philadelphia
    1429 Walnut Street, Center City West, Philadelphia, PA 19102
    For Lease $24/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 11,046 Sqft
  • 100 Independence - Philadelphia
    100 South Independence Mall West, Market East, Philadelphia, PA 19106
    For Lease $23.75/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 51,532 Sqft
  • The Land Title Building - Philadelphia
    100 South Broad Street, Center City West, Philadelphia, PA 19110
    For Lease $25.25/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 23,096 Sqft
  • Eight Penn Center - Philadelphia
    1628 John F. Kennedy Blvd, Center City West, Philadelphia, PA 19103
    For Lease $26.75/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 21,335 Sqft
  • 990 Spring Garden - Philadelphia
    990 Spring Garden Street, Callowhill, Philadelphia, PA 19123
    For Lease $26/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 2,169 Sqft
  • 1635 Market Street - Philadelphia
    1635 Market Street, Center City West, Philadelphia, PA 19103
    For Lease $24.5/Sqft/Year
    Property
    • Office
    Availability
    • 5 Spaces
    • 51,908 Sqft
  • 3000 Market Street - Philadelphia
    3000 Market Street, University City, Philadelphia, PA 19104
    For Lease $28.5/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 49,642 Sqft
  • The Graham Building - Philadelphia
    30 South 15th Street, Center City West, Philadelphia, PA 19102
    For Lease $34/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 14,666 Sqft
  • 100 North 20th Street - Philadelphia
    100 North 20th Street, Logan Square, Philadelphia, PA 19103
    For Lease $23.5/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 10,000 Sqft
  • Medical Tower Building - Philadelphia
    255 South 17th Street, Rittenhouse Square, Philadelphia, PA 19103
    For Lease $25/Sqft/Year
    Property
    • Office
    Availability
    • 7 Spaces
    • 10,475 Sqft
  • Science Center - Philadelphia
    3700 Market Street, University City, Philadelphia, PA 19104
    For Lease $25/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 6,369 Sqft
  • 1500 Walnut Street - Philadelphia
    1500 Walnut Street, Rittenhouse Square, Philadelphia, PA 19102
    For Lease $25/Sqft/Year
    Property
    • Office
    Availability
    • 9 Spaces
    • 19,640 Sqft
  • Commerce Way Office Complex - Philadelphia
    2708 Commerce Way, Byberry, Philadelphia, PA 19154
    For Lease $11/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 14,518 Sqft
  • 2373 Welsh Road - Philadelphia
    2373 Welsh Road, Ashton - Woodenbridge, Philadelphia, PA 19114
    For Lease $17/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 11,710 Sqft
  • 5627 Germantown Avenue - Philadelphia
    5627 Germantown Avenue, Germantown, Philadelphia, PA 19144
    For Lease $15/Sqft/Year
    Property
    • Office
    Availability
    • 7 Spaces
    • 49,600 Sqft

Philadelphia, PA Economic Overview

Location Photo

There are few cities that embody the history of the United States quite like Philadelphia, from its role in the founding of the country to its well preserved monuments, like the famous Liberty Bell. With a population of roughly 1.6 million, it’s also one of the modern U.S.’ largest and most prosperous cities, which contributes to the booming Philadelphia commercial real estate market.

Philadelphia’s economy is powered by a diverse set of industries, including manufacturing, oil refining, food processing, tourism, financial services, telecommunications, healthcare and higher education. Notably, it is also home to the Port of Philadelphia, a collection of freshwater ports that is among the largest in the world, right alongside Minnesota and Wisconsin’s Twin ports complex.

Philadelphia, PA Commercial Real Estate Market

The massive Philadelphia metropolitan area, also known as the Delaware Valley, stretches across parts of four different states, including southwestern New Jersey, northern Delaware and northeastern Maryland. The expanse adds up to about 7000 square miles on which the Philadelphia office market can grow and thrive.

Downtown Philadelphia, or Center City, is one of the most highly populated downtown areas in the country, second only to Midtown Manhattan. The Downtown Philadelphia office market alone encompasses 64 million square feet of office space. Downtown is home to the headquarters of three Fortune 500 companies: cable and internet provider Comcast, insurance provider Cigna and food services company Aramark.

While these giants provide a glimpse of the makeup of the overall Philadelphia economy, the downtown area is also greatly reliant on the financial, medical, legal and government sectors.

South Philadelphia office market is highly dependent on entertainment and tourism, along with energy. Here you’ll find the headquarters to the Fortune 500 oil corporation Sunoco, along with the South Philadelphia Sports Complex. The complex contains Lincoln Financial field–home of the Philadelphia Eagles, the Wells Fargo Center, home of the 76ers and Flyers and the Citizens Bank Park, home of the Phillies.

West Philadelphia is a major center for higher education, medical research and tourism. It’s the site of some of Philadelphia’s premier universities, including the University of Pennsylvania, Drexel University, and St. Joseph’s University. The area also holds a large portion of the city’s historical interest points, as well as the Philadelphia Zoo, which the oldest zoo in the United States.

Suburban Philadelphia, spread across the Delaware Valley region, contains a large number of communities, which make up the bulk of Philadelphia metro’s manufacturing, oil refining and food processing industries. The Delaware valley office market encompasses roughly 124 million square feet of office space and is home to the headquarters of nine Fortune 500 companies, including Lincoln Financial Group, Lockheed Martin and Crown Holdings Inc. Here you’ll find the King of Prussia Mall, the largest in the U.S., by leasable space.

Philadelphia, PA Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Philadelphia, PA Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Philadelphia, PA Commercial Inventory Breakdown

Office Spaces

Total: 76,901,914 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 5,831,293 SF / 7.58% of total office
  • 100k to 500k SF: 23,832,565 SF / 30.99% of total office
  • 500k to 1M SF: 34,015,288 SF / 44.23% of total office
  • > 1M SF: 13,222,768 SF / 17.19% of total office

By class:

  • Class A+: 15,418,232 SF / 20.05% of total office
  • Class A: 29,541,084 SF / 38.41% of total office
  • Class B: 22,023,837 SF / 28.64% of total office
  • Class C: 1,596,353 SF / 2.08% of total office

Industrial

Total: 37,481,453 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 50k to 100k SF: 1,711,296 SF / 4.57% of total industrial
  • 100k to 500k SF: 27,519,635 SF / 73.42% of total industrial
  • 500k to 1M SF: 5,434,578 SF / 14.5% of total industrial
  • > 1M SF: 2,815,944 SF / 7.51% of total industrial

By class:

  • Class A: 7,056,679 SF / 18.83% of total industrial
  • Class B: 14,442,889 SF / 38.53% of total industrial
  • Class C: 15,201,885 SF / 40.56% of total industrial

Office Spaces with Retail

Total: 318,143 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 50k to 100k SF: 52,143 SF / 16.39% of total office with retail
  • 100k to 500k SF: 266,000 SF / 83.61% of total office with retail

Employment in Philadelphia, PA

Employment

Of the over 3 million people who work in the Philadelphia region, nearly half are employed in knowledge-based professions. The city has long been known for its “eds and meds,” owing to the large number of jobs in education and medicine, but it has diversified even further in recent years.

  • Government - The city, state, and federal government, as well as the Southeastern Philadelphia Transport Authority (SEPTA), are all among Philadelphia’s top 10 biggest employers.
  • Education - Education is another major employer in the region, with the School District of Philadelphia, Temple University, Drexel University, the University of Pennsylvania and Thomas Jefferson University leading the charts.
  • Manufacturing - Those seeking employment in the manufacturing sector will have plenty to choose from, including giants like Lockheed Martin and Boeing.
  • Medicine - Philadelphia is a hub of both healthcare and medical research, where the Children’s Hospital of Philadelphia, Main Line Health, Independence Blue Cross, and the Albert Einstein Medical Center are all top employers, with several other hospitals and research facilities among the top 20.
  • Energy - Roughly 10% of all jobs in Philadelphia come from the energy sector, including oil refining and petrochemicals, with companies like Sunoco, DuPont, and others leading the way.
  • Insurance - Several of the country’s biggest insurance companies call Philadelphia home. Here you’ll find the headquarters of Lincoln Financial and Cigna, with Vanguard being another top employer.

Of course, tourism is yet another major industry in Philadelphia, which receives roughly 40 million visitors per year and injects over $10 billion into the local economy.

Education in Philadelphia, PA

Philadelphia is served by the School District of Philadelphia, the eighth-largest in the country. The city also has a strong dedication to higher learning and is home to the Ivy League institution, the University of Pennsylvania, along with Temple University, Drexel University, St. Joseph’s University, and La Salle University. Many of these institutions are concentrated in University City or Logan Square. There are over 120,000 college and university students in Philadelphia alone and 300,000 in the metro area.

Commuting Time in Philadelphia, PA

At more than 31 minutes, Philadelphia has the second-longest commute time in the U.S. Less than 60% of residents drive or carpool to work, while nearly 27% rely on mass transit, 9% walk, and 2.3% commute by bicycle.

Philadelphia Demographics

Population

  • Total Population1,569,657
  • Male Population(47.3 %) 742,412
  • Female Population(52.7 %) 827,245
  • Median Age34.10

Income/Financial

  • Average Household Income$60,517
  • Median Household Income$40,649
  • Median Income Under 25$20,445
  • Median Income 25-44$47,790
  • Median Income 45-64$43,470
  • Median Income Over 65$29,206

News

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COMMERCIALCafé is your first and only stop when it comes to commercial real estate leasings in Philadelphia, PA. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 2169 square feet and 162415 square feet. Discover the right property from our 488 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.