As your Philadelphia law firm’s real estate partner, we’ll secure economical, functional and efficient office space that reflects your firm's culture, and reduces costs per attorney.
Your Philadelphia-area law firm may face a challenging leasing market in the short term.
Vacancy rates are at all-time lows, with Philadelphia currently the twelfth-tightest market in the United States at 9.7 percent (as of Q3 2015). Additionally, limited blocks of available Trophy space are pushing landlords to cut back on concessions.
We expect the market to begin easing in 2017, with 300,000 square feet of Trophy space coming online, along with two large blocks at 1735 Market Street.
In the meantime, the revitalized Market East is giving cost-conscious firms options, while Center City is experiencing the strongest growth of millennials of any major U.S. city, giving your firm the ability to attract young talent.
Our Philadelphia-based law firm team has plenty of strategies to help your firm navigate this tight tenant market.
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Philadelphia-area law firms face short-term challenges, with vacancy rates at all-time lows and limited blocks of available Trophy space. With conditions on their side, landlords are cutting back on concessions to tenants.
Nationwide, CBD Class A space is dipping into single-digit territory in many markets, while Trophy rents continue to rise at 2.5 times faster than the market average. Find out why it's happening across the county, and how it affects Philadelphia (as well as a number of other important areas across the region), by downloading our full 2015 report.