# Philadelphia Class A Office Market

> Philadelphia Class A office rents around $38/sqft/yr, with 21.6% vacancy and 14 months of typical rent-free on a 10-year term.

**Canonical URL:** https://classa.info/cities/philadelphia
**Page type:** city
**Last updated:** 2026-04-15T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- Class A trophy product on Market Street West and along the Avenue of the Arts trades at $48-$56/sqft.
- University City life sciences pipeline is the principal new-demand driver.
- Comcast Technology Center anchors the trophy tier.
- Concessions remain rich — 12-16 months free typical on a 10-year deal.

## Key facts
- **city**: Philadelphia
- **country**: United States
- **region**: Americas
- **classARentLocal**: $38/sqft/yr
- **classARentUsd**: $38/sqft/yr
- **vacancyPct**: 21.6%
- **typicalLeaseYears**: 10
- **typicalRentFreeMonths**: 14
- **submarkets**: 5
- **corporateTaxPct**: 26%
- **talentIndex**: 85

## FAQ
### 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.

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Citation: Source: Class A Atlas (https://classa.info/cities/philadelphia), updated 2026-04-15T00:00:00.000Z.