Office market on Market (east and west) doing well: Philadelphia Business Journal

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The 1.1 million square feet of downtown leasing activity JLL had been tracking between January and May showed 25 percent was driven by new demand from suburban firms and out of market tenants. About the same time last year, it was just 12 percent.

“Rent growth continues and the low vacancy story continues,” said Lauren Gilchrist, researcher at JLL. “The fact that we are seeing ground up construction and speculative development at the Navy Yard is a good indicator of the health of the market overall.” Read more here.