Quick reference: Philadelphia Class A rent is 38 USD/sqft ($38 USD), typical term 10 years, 14 months free.
Class A rent: 38 USD/sqft/yr ($38 USD).
Typical term: 10 years.
Typical rent-free: 14 months.
Vacancy: 21.6%.
Philadelphia Class A office: frequently asked questions
Quick reference: Philadelphia Class A rent is 38 USD/sqft ($38 USD), typical term 10 years, 14 months free.
TL;DR
Class A rent: 38 USD/sqft/yr ($38 USD).
Typical term: 10 years.
Typical rent-free: 14 months.
Vacancy: 21.6%.
Quick reference
Use this page as the fast-answer reference for Philadelphia. Deep coverage lives on the city page, the topic pages, and the comparison views.
Key facts
city
Philadelphia
country
United States
region
Americas
classARentLocal
38 USD/sqft/yr
classARentUsd
$38/sqft/yr
vacancy
21.6%
typicalLeaseYears
10
typicalRentFreeMonths
14
submarkets
5
primeYieldPct
6.9%
Frequently asked questions
How significant is the life sciences pipeline?
Material. The Schuylkill Yards and University City corridor delivered roughly 2M sqft of life sciences and biotech-tilted Class A in 2023-2025.
What is the Center City rent versus University City?
Center City trophy trades 10-15% above University City Class A on a per-foot basis, but University City is increasingly the preferred destination for life sciences and biotech tenants.
Are concessions tightening?
Trophy concessions remain rich at 12-16 months free; older Class A is more aggressive.