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Suburban Philadelphia Office Report Q3 2022

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Suburban Philadelphia Office Market

Key Trends

  • The vacancy rate increased from 18.6% to 18.9% during the 3rd quarter.
  • Occupancy gains were limited to a few submarkets.
  • The overall average asking rent increased for both Class A and Class B space but not in all submarkets.
  • Investment volume was very limited due to rising interest rates and uncertainty in the debt markets.

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Suburban Philadelphia Office Report Q3 2022

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Related Experts

Rose Penny

Market Research Director | Philadelphia

Philadelphia

Rose serves as Market Research Director at Colliers and is a member of the Colliers International Research Council.  She is responsible for the compilation, analysis, and dissemination of all market data for the firm.  She is also responsible Colliers Research Reports for Philadelphia, as well as detailed market studies on more than 500 million square feet of commercial real estate in Pennsylvania, New Jersey and Delaware.  Rose produces detailed demographic studies, maintains an extensive database of lease and sale transactions and assists in the preparation of tax studies and opinions of value.

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Luke Nachazel

Market Research Analyst

Philadelphia

Luke works as a Market Research Analyst at Colliers in our Philadelphia Office.  His duties include: compiling and analyzing market data, contributing to Colliers Research Reports, as well as assisting the Brokerage Teams across the Pennsylvania, New Jersey, and Delaware offices.

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