The newly released Quarterly Market Update Q4 2025 looks at the ever-shifting dynamics in Center City’s office market. The report brings together building performance with the latest research on leasing activity, office occupancy, the state of return to office, retail offerings and conversions 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. 

3 key takeaways:

• Expansions and new-to-market deals announced with encouraging activity in office and life sciences.

• Q4 2025 office occupancy 78.2%, up 0.9% QoQ.

• SEPTA challenges pull-down RTO rate. Regional rail and trolley fixes are on the way.

To learn more about these trends, and to view and download the full report, visit Quarterly Market Update Q4 2025 below.