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Updated regional employment figures demonstrate suburban counties overall have returned to pre-recessionary peak, while city continues to outperform /406/philadelphia-10-16-2017-city-continues-to-outperform<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-office-meeting.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/406/philadelphia-10-16-2017-city-continues-to-outperformUpdated regional employment figures demonstrate suburban counties overall have returned to pre-recessionary peak, while city continues to outperform Preliminary employment figures through the first quarter of 2017 demonstrate that the City of Philadelphia continued employment growth momentum through the end of 2016 and continued to climb through the first part of 2017.
PA suburbs see 82.4 percent of regional absorption YTD, while CBD leasing activity is weighted to smaller users /387/philadelphia-10-9-17-suburb-absorpiton-and-leasing<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/abstract-red-panel.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/387/philadelphia-10-9-17-suburb-absorpiton-and-leasingPA suburbs see 82.4 percent of regional absorption YTD, while CBD leasing activity is weighted to smaller users ​The Pennsylvania suburbs are driving the region’s positive absorption, with five key submarkets – Fort Washington, King of Prussia/Wayne, Conshohocken, Delaware County, and Malvern/Exton - all exceeding 100,000 square feet so far in 2017.
Not all office submarkets were created equal: 9 out of 12 of the tightest submarkets are in the suburbs/361/philadelphia-10-2-17-not-all-submarkets-created-equal<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/bulding-tall-urban.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/361/philadelphia-10-2-17-not-all-submarkets-created-equalNot all office submarkets were created equal: 9 out of 12 of the tightest submarkets are in the suburbs​Despite a slow quarter of market activity, Q3 numbers demonstrate an ongoing tightness in many of the Philadelphia region’s most desirable office submarkets.
Mixed performance of new office buildings contributing to CBD market uncertainty heading into 2018/351/philadelphia-9-25-2017-new-office-buildings<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/building-modern-office-trees-sky.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/351/philadelphia-9-25-2017-new-office-buildingsMixed performance of new office buildings contributing to CBD market uncertainty heading into 2018​Just over 146,000 square feet remains available in the most recently delivered buildings across the city: four full floors at 1100 Ludlow in Market East, the bottom two floors at The Navy Yard’s 1200 Intrepid, and next to nothing on partial floors at FMC Tower.
Large office leasing deals year-to-date strongest in Market Street West, but transit-oriented suburban submarkets are winning the race /336/philadelphia-9-18-2017-transit-oriented-winning-the-race<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/transportation-urban-road-modern-city-skyline.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/336/philadelphia-9-18-2017-transit-oriented-winning-the-raceLarge office leasing deals year-to-date strongest in Market Street West, but transit-oriented suburban submarkets are winning the race ​While year-to-date leasing velocity has been slower in 2017 compared to 2016, large office leasing deals (25,000+ square feet) have accounted for 2.7 million square feet of activity across the Philadelphia market.
Population change has varied greatly in or near key office submarkets; will this affect future demand? /315/philadelphia-9-11-2017-population-changes-varies-greatly<img alt="" src="/united-states/en-us/PublishingImages/Snapshots/people-crowd.jpg?RenditionID=6" style="BORDER:0px solid;" />/united-states/en-us/research/snapshots/315/philadelphia-9-11-2017-population-changes-varies-greatlyPopulation change has varied greatly in or near key office submarkets; will this affect future demand? A sampling of Census Designated Places (CDPs) and boroughs throughout the Pennsylvania suburbs reveals varied population changes since 2010 that tell a more nuanced story than the region’s slow-and-steady narrative.