In the final quarter of 2020, office occupiers across the Philadelphia market shed a net total of 685,514 square feet of space, the largest quarterly loss since 2009.

As the saying goes, “it’s always darkest before dawn.” In the final quarter of 2020, office occupiers across the Philadelphia market shed a net total of 685,514 square feet of space, the largest quarterly loss since 2009. Philadelphia’s Central Business District (CBD) accounted for the bulk of these losses at approximately 550,000 square feet, compared to 136,000 square feet for the suburban market.

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