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Commercial Real Estate in Philadelphia, PA - 459 Properties Available

  • 1420 Walnut Street - Philadelphia
    1420 Walnut Street, Rittenhouse Square, Philadelphia, PA 19102
    For Lease $24.5/Sqft/Yearly
    Property
    • Office
    Availability
    • 5 Spaces
    • 10,945 Sqft
  • The Navy Yard Building 100 Innovation Center - Philadelphia
    4801 South 13Th Street, Philadelphia, PA 19112
    For Lease $27/Sqft/Yearly
    Property
    • Office
    Availability
    • 1 Space
    • 2,040 Sqft
  • 1635 Market Street - Philadelphia
    1635 Market Street, Center City West, Philadelphia, PA 19103
    For Lease $24.5/Sqft/Yearly
    Property
    • Office
    Availability
    • 5 Spaces
    • 51,908 Sqft
  • 1500 Spring Garden - Philadelphia
    1500 Spring Garden Street, Logan Square, Philadelphia, PA 19130
    For Lease $25/Sqft/Yearly
    Property
    • Office
    Availability
    • 9 Spaces
    • 237,756 Sqft
  • 1835 Market Street - Philadelphia
    1835 Market Street, Center City West, Philadelphia, PA 19103
    For Lease $28.5 - $31/Sqft/Yearly
    Property
    • Office
    Availability
    • 13 Spaces
    • 110,229 Sqft
  • Two Liberty Place - Philadelphia
    50 South 16Th Street, Center City West, Philadelphia, PA 19192
    For Lease $37.5 - $40/Sqft/Yearly
    Property
    • Office
    Availability
    • 5 Spaces
    • 74,383 Sqft
  • 2300 Chestnut Street - Philadelphia
    2300 Chestnut Street, Center City West, Philadelphia, PA 19103
    For Lease $32 - $45/Sqft/Yearly
    Property
    • Office
    Availability
    • 2 Spaces
    • 9,205 Sqft
  • 1700 Market Street - Philadelphia
    1700 Market Street, Center City West, Philadelphia, PA 19103
    For Lease $20/Sqft/Yearly
    Property
    • Office
    Availability
    • 14 Spaces
    • 91,536 Sqft
  • Two Logan Square - Philadelphia
    100 North 18Th Street, Logan Square, Philadelphia, PA 19103
    $10 - $80/Sqft/Yearly
    Property
    • Office
    Availability
    • 10 Spaces
    • 72,887 Sqft
  • Cira Centre - Philadelphia
    2929 Arch Street, University City, Philadelphia, PA 19104
    For Lease $35 - $37/Sqft/Yearly
    Property
    • Office
    Availability
    • 8 Spaces
    • 60,723 Sqft
  • One Logan Square - Philadelphia
    130 North 18Th Street, Logan Square, Philadelphia, PA 19103
    $30 - $60/Sqft/Yearly
    Property
    • Office
    Availability
    • 2 Spaces
    • 4,701 Sqft
  • 1900 Market Street - Philadelphia
    1900 Market Street, Center City West, Philadelphia, PA 19103
    For Lease $36 - $40/Sqft/Yearly
    Property
    • Office
    Availability
    • 2 Spaces
    • 22,144 Sqft
  • Three Logan Square - Philadelphia
    1717 Arch Street, Logan Square, Philadelphia, PA 19103
    $26 - $80/Sqft/Yearly
    Property
    • Office
    Availability
    • 9 Spaces
    • 42,626 Sqft
  • Centre Square - West - Philadelphia
    1500 Market Street, Center City West, Philadelphia, PA 19102
    For Lease $31.5/Sqft/Yearly
    Property
    • Office
    Availability
    • 6 Spaces
    • 43,024 Sqft
  • Centre Square - East - Philadelphia
    1500 Market Street, Center City West, Philadelphia, PA 19102
    For Lease $31.5/Sqft/Yearly
    Property
    • Office
    Availability
    • 4 Spaces
    • 71,464 Sqft
  • 100 Independence - Philadelphia
    100 South Independence Mall West, Market East, Philadelphia, PA 19106
    For Lease $23.75/Sqft/Yearly
    Property
    • Office
    Availability
    • 5 Spaces
    • 191,257 Sqft
  • The Widener Building - Philadelphia
    1 South Penn Square, Market East, Philadelphia, PA 19107
    For Lease $24.5/Sqft/Yearly
    Property
    • Office
    Availability
    • 2 Spaces
    • 6,411 Sqft
  • Four Penn Center - Philadelphia
    1600 John F. Kennedy Blvd, Center City West, Philadelphia, PA 19103
    For Lease $28.5/Sqft/Yearly
    Property
    • Office
    Availability
    • 16 Spaces
    • 212,765 Sqft
  • 1518 Walnut Street - Philadelphia
    1518 Walnut Street, Rittenhouse Square, Philadelphia, PA 19102
    For Lease $24/Sqft/Yearly
    Property
    • Office
    Availability
    • 5 Spaces
    • 8,313 Sqft
  • 1211 Chestnut Street - Philadelphia
    1211 Chestnut Street, Market East, Philadelphia, PA 19107
    For Lease $21/Sqft/Yearly
    Property
    • Office
    Availability
    • 2 Spaces
    • 8,512 Sqft
  • Belmont Building - Philadelphia
    211 North 13Th Street, Center City East, Philadelphia, PA 19107
    For Lease $13.82 - $17/Sqft/Yearly
    Property
    • Office
    Availability
    • 4 Spaces
    • 16,700 Sqft
  • 990 Spring Garden - Philadelphia
    990 Spring Garden Street, Callowhill, Philadelphia, PA 19123
    For Lease $24/Sqft/Yearly
    Property
    • Office
    Availability
    • 1 Space
    • 4,273 Sqft
  • The Washington - Philadelphia
    510 Walnut Street, Society Hill, Philadelphia, PA 19106
    For Lease $26.5 - $30.5/Sqft/Yearly
    Property
    • Office
    Availability
    • 8 Spaces
    • 127,445 Sqft
  • The Cast Iron Building - Philadelphia
    718 Arch Street, Chinatown, Philadelphia, PA 19106
    For Lease $25/Sqft/Yearly
    Property
    • Office
    Availability
    • 2 Spaces
    • 9,533 Sqft
  • Two Penn Center - Philadelphia
    1500 John F. Kennedy Blvd, Center City West, Philadelphia, PA 19102
    For Lease $26.5/Sqft/Yearly
    Property
    • Office
    Availability
    • 7 Spaces
    • 30,093 Sqft

Philadelphia, PA Economic Overview

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Read about: Philadelphia, PA Commercial Real Estate Market | Philadelphia, PA Commercial Inventory Breakdown | Employment in Philadelphia, PA | Education in Philadelphia, PA | Commuting Time in Philadelphia, PA

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: 75,343,373 SF

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

By square footage range:

  • 50k to 100k SF: 5,667,677 SF / 7.52% of total office
  • 100k to 500k SF: 21,888,245 SF / 29.05% of total office
  • 500k to 1M SF: 33,473,683 SF / 44.43% of total office
  • > 1M SF: 14,313,768 SF / 19% of total office

By class:

  • Class A+: 15,418,232 SF / 20.46% of total office
  • Class A: 29,535,912 SF / 39.2% of total office
  • Class B: 21,261,821 SF / 28.22% of total office
  • Class C: 1,596,353 SF / 2.12% of total office

Industrial

Total: 36,837,976 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 50k to 100k SF: 1,711,296 SF / 4.65% of total industrial
  • 100k to 500k SF: 26,256,158 SF / 71.27% of total industrial
  • 500k to 1M SF: 6,054,578 SF / 16.44% of total industrial
  • > 1M SF: 2,815,944 SF / 7.64% of total industrial

By class:

  • Class A: 6,154,112 SF / 16.71% of total industrial
  • Class B: 14,811,979 SF / 40.21% of total industrial
  • Class C: 15,691,885 SF / 42.6% of total industrial

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. 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

Residential Rents in Philadelphia, PA

When choosing the best place for a business, location research is very important – not only for the office, but also for the employees’ convenience.

The rental market in Philadelphia is slightly more expensive than nearby Pittsburgh, featuring average one-bedroom prices around $1,295, with average rents increasing to $1,572 for a two-bedroom in the city.

News

Since 2009, the U.S. economy has had more than 110 consecutive months of growth, making this the second longest economic expansion since the Great Depression. After a rather tepid 2017 performance, the U.S. office market gathered some steam in 2018, adding 76 million square feet of new office sp...

The U.S. industrial real estate market had a solid year in 2018 and has continued to strengthen through the first quarter of 2019. Industrial rents are on an upward path, while the construction pipeline is robust and development is spurred on by the e-commerce sector. In terms of development, 20...

Ever since the financial crisis, a growing number of workers have seen their schedules become increasingly flexible, as many have either turned to freelancing full-time, taken on a second job or are looking to launch their own business. Coworking offices have sprung up throughout the nation, cat...

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 2040 square feet and 237756 square feet. Discover the right property from our 459 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.