Investment banking occupiers in Philadelphia typically cluster in Center City West, plan ~215 sqft per seat at trophy fit-out ($235–350/sqft), and pay around 38 USD/sqft ($38 USD) on Class A.

• Preferred submarket: Center City West.
• Typical fit-out spec: Trophy ($235–350/sqft).
• Plan ~215 sqft per seat for headcount sizing.
• Class A rent context: 38 USD/sqft ($38 USD).
• Typical lease: 10 years with 14 months rent-free.
• Talent depth in Philadelphia: 85/100.

TL;DR

• Preferred submarket: Center City West.
• Typical fit-out spec: Trophy ($235–350/sqft).
• Plan ~215 sqft per seat for headcount sizing.
• Class A rent context: 38 USD/sqft ($38 USD).
• Typical lease: 10 years with 14 months rent-free.
• Talent depth in Philadelphia: 85/100.

Where they cluster

Investment banking occupiers in Philadelphia typically anchor in Center City West. Banking, law, professional services, media (Comcast).

What they pay

Class A rent in Philadelphia runs 38 USD/sqft ($38 USD) on a 10-year lease with 14 months free. Trophy submarkets command a 20–40% premium above the city index.

Spec and fit-out

Typical investment banking fit-out targets trophy specification at $235–350/sqft. Bespoke design, signature feature, top-tier MEP and acoustic packages are standard.

Headcount sizing

Plan around 215 sqft per seat blended (workstation + circulation + amenity). A 100-headcount banking office in Philadelphia typically targets 21,500 sqft of leasable area.

Talent angle

Bulge-bracket teams favor signature trophy assets with full client-facing programming and large floor plates. Deep healthcare, life sciences, legal, and academic talent — anchored by Penn, Temple, Drexel, and a deep network of hospital systems. Strong financial services concentration in asset management and insurance.

Tax and lease context

Headline corporate tax: 26%. Modified-gross structures with opex pass-throughs. 10-year terms standard. Free rent of 12-16 months and TI of $90-$130/sqft typical.

Key facts

Frequently asked questions

Where do investment banking occupiers lease office space in Philadelphia?

Most cluster in Center City West. Rent runs ~38 USD/sqft ($38 USD) for trophy and prime stock.

What fit-out spec do investment banking occupiers run in Philadelphia?

Typically trophy at $235–350/sqft.

How much office space per seat should a investment banking occupier plan in Philadelphia?

Plan ~215 sqft per seat blended. A 100-person team typically takes 21,500 sqft.

What NAICS codes describe the investment banking vertical?

Representative NAICS 2022 codes: 523150, 522110.

What is the talent index in Philadelphia?

85/100. Use the city profile for full detail.

Related

• Investment banking — global overview
• Philadelphia — full city profile
• Financial services in Philadelphia
• Asset management in Philadelphia
• Legal services in Philadelphia
• Big tech in Philadelphia

Editorial provenance

Reviewed by Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

• CBRE Marketview reports — CBRE
• JLL Office Insight — JLL
• Cushman & Wakefield Marketbeat — Cushman & Wakefield
• Savills World Research — Savills
• Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction

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