This newly released Quarterly Market Update Q1 2025 looks at the ever-shifting dynamics in Center City’s office market. The report brings together building performance with the latest information on foot traffic and retail offerings within the West Market Office District to provide a holistic look at both the economic environment and the on-street experience for Center City workers. 

What we're watching at the start of 2025:

• Trophy buildings are outperforming: The highest-quality buildings are attracting an outsized share of leasing activity.

• Proximity drives RTO: Across the Center City District, 88% of employees living within 2 miles are back. Within the West Market Office District specifically, 80% of nearby employees are back on average. 

• New retail can enliven the office district: Forthcoming dining and nightlife concepts on the ground floors of office buildings will activate low-traffic areas and give workers more reasons to spend time downtown. 

To learn more about these trends, and to view and download the full report see below.