{"id":1004779820,"date":"2025-12-19T05:12:31","date_gmt":"2025-12-19T13:12:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004779820"},"modified":"2025-12-19T05:15:19","modified_gmt":"2025-12-19T13:15:19","slug":"philadelphia-office-market-update","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/philadelphia-office-market-update\/","title":{"rendered":"Weak Investment, Steady Pipeline for Philadelphia\u2019s Office Sector"},"content":{"rendered":"\n<p>Philadelphia\u2019s office sector showed modest signs of recovery through the first 10 months of the year, Yardi Matrix data shows, mirroring broader <a href=\"https:\/\/www.commercialsearch.com\/news\/commercial-real-estate-trends\/\">trends in commercial real estate<\/a>. As of October, the metro recorded one of the lowest investment volumes in the U.S., with assets trading at almost half the national average price.<\/p>\n\n\n\n<p>However, development activity is holding up better than investments. Philly\u2019s office pipeline ranked among the top 10 nationwide, remaining broadly in line with levels recorded <a href=\"https:\/\/www.commercialsearch.com\/news\/philadelphia-office-sector-still-sluggish\/\">earlier in the year<\/a>. The disconnect suggests that while investors remain cautious, developers are still betting on the market\u2019s longer-term fundamentals.<\/p>\n\n\n\n<iframe title=\"Top 10 Markets for Office Space Under Construction\" aria-label=\"Table\" id=\"datawrapper-chart-n5PIH\" src=\"https:\/\/datawrapper.dwcdn.net\/n5PIH\/1\/\" scrolling=\"no\" frameborder=\"0\" style=\"width: 0; min-width: 100% !important; border: none;\" height=\"537\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}});<\/script>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-construction-activity-remained-steady\">Construction activity remained steady<\/h2>\n\n\n\n<p>Philadelphia\u2019s office development pipeline at the end of October amounted to 1.1 million square feet, ranking in the top 10 nationwide. Austin (1.6 million square feet) and Houston (1.3 million square feet) were some of the peer metros that fared better, while Phoenix (850,000 square feet) and Atlanta (730,000 square feet) were at the opposite end.<\/p>\n\n\n\n<p>Nationally, just a little over 33 million square feet of office space were under construction. Boston, Manhattan and Dallas were the only metros to surpass the 2 million-square-foot threshold.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a1a3049044cd&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"409\" height=\"512\" data-attachment-id=\"1004779821\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/philadelphia-office-market-update\/2300-market\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/2300-Market.jpg\" data-orig-size=\"409,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"2300 Market\" data-image-description=\"&lt;p&gt;Image from YM&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Breakthrough Properties  completed the redevelopment of the eight-story office building at 2300 Market St. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/2300-Market.jpg?w=409\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/2300-Market.jpg\" alt=\"Exterior shot of 2300 Market, a life science building in Philadelphia.\" class=\"wp-image-1004779821\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/2300-Market.jpg 409w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/2300-Market.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 409px) 100vw, 409px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The eight-story building at 2300 Market St. comprises five newly developed floors. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Parkway Corp. is working on 2000 Arch Street, a 550,000-square-foot office building in Center City. The firm broke ground on the project in 2023, using funds from a $408.6 million loan originated by UMB Bank, Yardi Matrix data shows. The development is slated to come online in the first quarter of next year.<\/p>\n\n\n\n<p>As for <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-office-deliveries\/\">office deliveries<\/a>, five properties totaling 534,894 square feet came online in the first 10 months of the year. They accounted for 0.2 percent of the metro\u2019s office footprint, less than half the 0.5 percent national figure.<\/p>\n\n\n\n<p>Earlier this year, Breakthrough Properties completed the redevelopment of 2300 Market, a 225,000-square-foot life science building also in Philadelphia&#8217;s downtown area. The project involved the adaptive reuse and rehabilitation of two adjoining buildings while also adding five new stories. A joint venture between Tishman Speyer and Bellco Capital backs the property.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-philly-office-prices-below-national-figures\">Philly office prices below national figures<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a1a304904a5c&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignleft size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004779822\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/philadelphia-office-market-update\/1170-1180-1190-devon-park-drive\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/1170-1180-1190-Devon-Park-Drive.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1170, 1180 &#038; 1190 Devon Park Drive\" data-image-description=\"&lt;p&gt;Image from YM&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Mesirow Financial paid $66.5 million for 1170, 1180 &#038; 1190 Devon Park Drive. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/1170-1180-1190-Devon-Park-Drive.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/1170-1180-1190-Devon-Park-Drive.jpg\" alt=\"Exterior shot of 1170, 1180 &amp; 1190 Devon Park Drive, an office campus in Wayne, Pa.\" class=\"wp-image-1004779822\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/1170-1180-1190-Devon-Park-Drive.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/1170-1180-1190-Devon-Park-Drive.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Mesirow Financial paid $66.5 million for 1170, 1180 &amp; 1190 Devon Park Drive. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/office\/us\/pa\/philadelphia\/\" target=\"_blank\" rel=\"noreferrer noopener\">Philadelphia\u2019s office space<\/a> sales totaled $454 million year-to-date through October, one of the lowest investment volumes in the U.S. Peer markets such as Dallas ($2.5 billion) and Atlanta ($1.2 billion) were among the top 10 metros for transactions, while Austin ($542 million) and Tampa, Fla. ($535 million) joined Philly in the bottom half of the ranking.<\/p>\n\n\n\n<p>Assets in the metro traded for $100 per square foot, almost half the national average of $191 per square foot. Austin ($216 per square foot) and Atlanta ($131 per square foot) registered higher prices, while Houston properties sold for less ($90 per square foot).<\/p>\n\n\n\n<p>In the third quarter of this year, Mesirow Financial acquired 1170, 1180 &amp; 1190 Devon Park Drive, a three-building office campus in Wayne, Pa. Merion Realty Partners sold the 250,185-square-foot asset for $66.5 million, after 10 years of ownership.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-office-vacancy-unchanged-over-the-year\">Office vacancy, unchanged over the year<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a1a304905330&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"409\" height=\"512\" data-attachment-id=\"1004779823\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/philadelphia-office-market-update\/one-penn-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/One-Penn-Center.jpg\" data-orig-size=\"409,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"One Penn Center\" data-image-description=\"&lt;p&gt;Image from YM&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 20-story One Penn Center went through cosmetic renovations in 2014. Image courtesy of Yardi Matrix&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/One-Penn-Center.jpg?w=409\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/One-Penn-Center.jpg\" alt=\"Exterior shot of One Penn Center, an office building in Philadelphia.\" class=\"wp-image-1004779823\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/One-Penn-Center.jpg 409w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/One-Penn-Center.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 409px) 100vw, 409px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 20-story One Penn Center went through cosmetic renovations in 2014. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Philadelphia\u2019s office vacancy rate remained unchanged year-over-year as of October, clocking in at 18.8 percent, 20 basis points above the national average. Similar markets such as Tampa (14.2 percent) and Phoenix (17.4 percent) also had lower vacancies, while Atlanta (19.8 percent), Dallas (22 percent) and Austin (26.9 percent) had more space available.<\/p>\n\n\n\n<p>In September, the U.S. Securities and Exchange Commission renewed its 44,765-square-foot leasing agreement at One Penn Center, a 650,000-square-foot building in Center City. The government agency will continue to occupy the space for another 10 years. Realex Capital owns the 20-story asset completed in 1930.<\/p>\n\n\n\n<p>The average listing rate for <a href=\"https:\/\/www.commercialsearch.com\/office\/us\/pa\/philadelphia\/\" target=\"_blank\" rel=\"noreferrer noopener\">office space in Philadelphia<\/a> was $31.69 per square foot in October, down 3.2 percent year-over-year. The figure was below the $32.81 national average, but surpassed those recorded in Phoenix ($29.67) and Houston ($27.49). Among similar markets, Austin led the ranking with $45.79 per square foot.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-philly-s-coworking-footprint-below-u-s-index\">Philly\u2019s coworking footprint below U.S. index<\/h2>\n\n\n\n<p>Philadelphia\u2019s coworking footprint clocked in at more than 3.2 million square feet across 177 locations, according to CoworkingCafe. This accounted for 1.7 percent of the market\u2019s office inventory, 50 basis points below the national average.<\/p>\n\n\n\n<p>All peer markets had a larger share of coworking space out of the office inventory, including Atlanta (2.6 percent) and Houston (2 percent). Nationally, Miami (4.3 percent) ranked first.<\/p>\n\n\n\n<p>Regus continued to have the largest shared space inventory in Philadelphia, with 620,355 square feet across 33 locations. HQ (144,149 square feet) and WeWork (132,388 square feet) rounded out the market&#8217;s top 3 coworking operators.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The market shows modest signs of recovery, according to Yardi Matrix information.<\/p>\n","protected":false},"author":3355,"featured_media":1004779822,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,22251,21783,52420,11,21742,21747,1494],"tags":[51047],"class_list":["post-1004779820","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-in-focus","category-investment","category-market-updates","category-midatlantic","category-latest","category-office","category-philadelphia","tag-marketupdate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weak Investment, Steady Pipeline for Philadelphia\u2019s Office Sector - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Philadelphia&#039;s office sector showed limited signs of recovery in the first 10 months of the year, according to Yardi Matrix information.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/philadelphia-office-market-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weak Investment, Steady Pipeline for Philadelphia\u2019s Office Sector\" \/>\n<meta property=\"og:description\" content=\"Philadelphia&#039;s office sector showed limited signs of recovery in the first 10 months of the year, according to Yardi Matrix information.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/philadelphia-office-market-update\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-19T13:12:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-19T13:15:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/1170-1180-1190-Devon-Park-Drive.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philadelphia-office-market-update\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/philadelphia-office-market-update\/\",\"name\":\"Weak Investment, Steady Pipeline for Philadelphia\u2019s Office Sector - 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Image courtesy of Yardi Matrix\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/philadelphia-office-market-update\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Weak Investment, Steady Pipeline for Philadelphia\u2019s Office Sector\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\",\"name\":\"Vicentiu Fusea\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ccbed048a87c0b87e81af2c30e2684f6fa8c0d2e617f452b15c76e47efd445f8?s=96&d=mm&r=g\",\"caption\":\"Vicentiu Fusea\"},\"description\":\"Vicentiu Fusea is an associate editor with Commercial Property Executive and Multi-Housing News. 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