philadelphia cbd Office Market Report

By CREhunt Research · Data through Q1 2026 · Aggregated from JLL

Quarterly office market indicators for philadelphia cbd, aggregated by CREhunt from JLL. As of Q1 2026, average asking rent was $34.43/SF/yr and vacancy was 20.3%, per JLL.

Projected current office pricing — philadelphia cbd

Projected asking rent
$34.43/SF/yr
Estimated sale value
$159–$272/SF

Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for philadelphia cbd office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 JLL asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent held flat). Assumes ~80% occupancy and a 50–65% net-operating-income margin.

QuarterAsking rentVacancyNet absorptionUnder constr.
Q1 2026
JLL
$34.43/SF/yr20.3%71K SF—

Frequently asked questions

What is the average asking rent for office space in philadelphia cbd?
As of Q1 2026, the average asking rent for office space in philadelphia cbd was $34.43/SF/yr, per JLL.
What is the office vacancy rate in philadelphia cbd?
The office vacancy rate in philadelphia cbd was 20.3% as of Q1 2026 (JLL).
Where does CREhunt's philadelphia cbd market data come from?
This report aggregates quarterly office market data for philadelphia cbd from JLL.