Tenant movement across Philadelphia's office market has eased since reaching a recent high around mid-2025. The amount of space tenants are moving into has changed relatively little, while move-outs have declined more recently, reducing overall churn to about 26 million square feet.
Philadelphia's office market shifts from relocations to steady leasing activity
Companies continue to lease office space, but fewer are making major changes to their office footprints
CoStar Analytics
September 18, 2026 | 5:59 P.M.
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