Philadelphia
Philly’s Inflation Remains Sticky
![Philadelphia's Inflation is Still Sticky Compared to the Rest of the Nation](https://wolfcre.com/wp-content/uploads/2024/03/office-2-150x150.png)
The latest release from the Bureau of Labor Statistics indicates that the Philadelphia metropolitan area continues to grapple with inflation rates surpassing those of the broader country. Philadelphia’s core inflation, […]
Read More....Philadelphia’s Retail Sector is the Sole Property Type Experiencing a Reduction in Vacancy
![Philadelphia's Retail Sector is the Sole Property Type Experiencing a Reduction in Vacancy](https://wolfcre.com/wp-content/uploads/2024/03/Untitled-design-5-150x150.png)
Between the first quarters of 2020 and 2024, the Philadelphia commercial real estate market exhibited diverse trends in its major sectors—retail, industrial, multifamily, and office. Retail defied expectations, experiencing consistent […]
Read More....The Conversion of Philadelphia’s Office Buildings Needs to Commence Immediately
![The Conversion of Philadelphia's Office Buildings Needs to Commence Immediately](https://wolfcre.com/wp-content/uploads/2024/02/Untitled-design-3-150x150.png)
The COVID pandemic has left an indelible mark on our collective memory, reshaping the way people work and where they work. In the Philadelphia area, the blending of home and […]
Read More....Rising Retail Capitalization Rates Amid Sustained Consumer Demand
![Retail Capitalization Rates Shift Higher, Despite Enduring Consumer Demand](https://wolfcre.com/wp-content/uploads/2024/01/retail-150x150.png)
After a period of price discovery, the Philadelphia region is adjusting to a new valuation standard for commercial real estate assets. Recent transactions indicate that the higher interest rates of […]
Read More....Commercial Real Estate Sales in Philadelphia Sector Enter 2024 on a Low Note
![Philadelphia’s Commercial Real Estate Sales Enter 2024 on a Low Note](https://wolfcre.com/wp-content/uploads/2024/01/philly-sales-low-2024-150x150.png)
After enduring the slowest year for commercial property sales in over a decade in 2023, the Philadelphia region approaches the new year with cautious optimism. The initial months are expected […]
Read More....Philadelphia Industrial Assets Remain Top Choice for Real Estate Investors for Third Consecutive Year
![Philadelphia Industrial Assets Remain Top Choice for Real Estate Investors for Third Consecutive Year](https://wolfcre.com/wp-content/uploads/2024/01/warehouse-150x150.png)
Despite a 57% annual sales decline in 2023, industrial properties in the Philadelphia region maintained their status as the preferred asset class. The industrial sector is poised to exhibit resilience […]
Read More....Philadelphia Retailers Downsize Store Requirements, Leading to Smaller Average Retail Lease Sizes
![Average Retail Lease Size Gets Smaller as Philadelphia Retailers Reduce Store Size Requirements](https://wolfcre.com/wp-content/uploads/2023/12/izakaya-1-150x150.png)
The trend of diminishing retail lease sizes continues in the Philadelphia metropolitan area, spurred by the COVID-19 pandemic’s ongoing impact. In 2023, the average retail lease size shrank by nearly […]
Read More....Assessing Philadelphia’s Office Market Against Other Major US Cities
![Assessing Philadelphia's Office Market Against Other Major US Cities](https://wolfcre.com/wp-content/uploads/2023/12/city-office-150x150.png)
Amidst a national trend of companies downsizing office spaces over three years, the Philadelphia metropolitan area stands out for its resilience compared to several other major U.S. office markets. Although […]
Read More....Nation’s Strongest and Weakest Apartment Rent Growth
![Apartment Rental Rates Across US](https://wolfcre.com/wp-content/uploads/2023/09/rent-150x150.png)
For the first time in more than 20 years, Chicago’s apartment rent growth is the highest among its major market peers over the course of three consecutive quarters. Apartment rents […]
Read More....East Coast Mayors Call for More Office Conversions
![East Coast mayors calling for more office to apartment conversions](https://wolfcre.com/wp-content/uploads/2023/07/tommys-5-150x150.png)
Mayors in cities across the U.S. want to loosen rules that can slow the pace of office-to-residential conversions. In some instances, cities have offered generous tax abatements to developers who […]
Read More....Philadelphia’s Education and Medical Economy Leads The Region’s Employment Growth
![Health and education jobs surpass Philly region prepandemic report](https://wolfcre.com/wp-content/uploads/2023/05/health-education-150x150.png)
After losing nearly 520,000 nonfarm jobs peak-to-trough in 2020, the Philadelphia region continues to surpass pre-pandemic employment levels with two industries leading the way: education and health services, and professional […]
Read More....Center City District Says Diversifying Downtown is Key to Philadelphia’s Future
![Center City District CEO Paul Levy says diversifying downtown is the key to Philadelphia's future](https://wolfcre.com/wp-content/uploads/2023/03/downtown-philly-150x150.png)
Three years after the start of the Covid-19 pandemic, Philadelphia’s downtown recovery has both challenges and opportunities. Office buildings have been slow to fill back up while restaurants have rebounded. […]
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