Philadelphia’s coworking market now accounts for 1 million square feet of office space as leasing activity continues to be strong.
“The coworking phenomenon continues its positive momentum both in Philadelphia and markets across the United States,” said Stephen Kriz, first VP at CBRE. “This disruptive industry has firmly established itself as an office solution for many corporations and we anticipate its growth trajectory to continue.”
CBRE also revealed a coworking firm may take up multiple floors of a City Center office building, but the deal is currently pending.
Downtown Philadelphia experienced the most leasing activity, with WeWork and Industrious signing new deals on Ludlow Street and Liberty Place, respectively.