These buildings near the heart of Center City — the Wanamaker Building, the Centre Square complex, and One South Broad — have some of the highest vacancy rates in Philadelphia.
The very quiet lobby of Centre Square at 1500 Market St. on the west side of City Hall. The building is nearly half empty.
These are outliers, for now. The vacancy rate for the entire region is 20.5%, while for the city itself it is 19.1%, according to commercial real estate services firm Jones Lang LaSalle . “That’s 1,000 people our stats would say are there, but they’re not,” said Tom Weitzel, managing director with JLL in Philadelphia. “It looks bad, but it’s actually worse.”
Today, only about a third of the office space is occupied. CHOP , the federal government , and Digitas Inc. are all gone, and there are few new entrants looking for such large spaces.
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