Local CRE Trends

Discover What’s New and Interesting in Our Backyard

Philadelphia is strategically located at the center of a thriving economic region, situated midway between New York and Washington, DC. It is the largest city in Pennsylvania and is the sixth most populous city in the United States, with a population of more than 1.5 million residents. Philadelphia serves as the economic and cultural hub for the Delaware Valley and the State of Pennsylvania, and is a major influence on government, big business and tourism, as well as arts, culture, cuisine, and entertainment.

Economic conditions in Philadelphia have been improving over the last several years due to accelerated job growth resulting from several major institutional and commercial projects. Service-providing sectors, such as education and health services, contributed to most of the expansion, according to the U.S. Department of Housing and Urban Development. Compared to other major metropolitan cities, Philadelphia boasts affordable office rental rates, low labor costs, and an inexpensive cost of living. The region is home to a regional labor pool of more than 3 million people and a highly educated workforce – there are 101 colleges and universities in the area, creating a steady stream of talent.

The city’s economy is bolstered by a diverse array of industries, including sciences and healthcare, professional services, manufacturing, and hospitality. Philadelphia is also home to a vast network of creative sector talent, with nearly 18,000 workers in fields such as public relations, architecture, fine arts and graphic design, according to the City of Philadelphia. It is also a premier destination for convention, leisure, and business travel. The Pennsylvania Convention Center has undergone a $786 million expansion and now offers the largest contiguous exhibit space in the Northeast, according to the City of Philadelphia.

For companies of all sizes, Philadelphia has over 40 million square feet of prime office space, including 96 LEED certified or registered buildings and 70 LEED commercial interiors, according to the Philadelphia Department of Commerce. The city works with companies of all sizes to offer incentives for business development in Philadelphia, such as low-cost financing, tax credits for job creation, site selection assistance, and workforce training.

About Fidelity National Financial

Fidelity National Financial, Inc. (FNF) is currently ranked #288 on the 2021 Fortune 500®*, and is among numerous defense, energy, media, hospitality and financial Fortune 500®* companies based in the region. Our Philadelphia-based team of CRE professionals works in all facets of the industry, including power and energy projects, office buildings, industrial parks, multifamily housing, retail properties, government contracts, corporate transactions and more.

Discover what’s new and interesting in our backyard in the latest real estate news, provided courtesy of the FNF Newsdesk.

*FORTUNE®” and “FORTUNE 500®” are registered trademarks of Time Inc. Time Inc. is not affiliated with, and does not endorse products or services of, Fidelity National Financial, its subsidiaries, or affiliates.


The Latest Articles From the FNF Newsdesk

U.S. Home-Price Gains Are On Pace To Smash Record In 2021
Home-price gains in 2021 are on pace to smash last year’s all-time high after record-low mortgage rates fueled bidding wars across the U.S., Fannie Mae said in a forecast on Friday. Home prices...

Mortgage and real estate news this week: Forbearance winds down and some evergreen advice
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the...

Mortgage rate deals for week ending Oct. 16, 2021: Top offers from lenders
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the...

Mortgage Rates Back Above 3%
| Realtor Magazine Internet Explorer does not currently support REALTOR® Magazine search. IE users, please download Firefox, Chrome, or Edge. October 15, 2021 The 30-year fixed-rate mortgage rose...

Single Women Concerned About Ability to Buy a Home
| Realtor Magazine Internet Explorer does not currently support REALTOR® Magazine search. IE users, please download Firefox, Chrome, or Edge. October 15, 2021 The pandemic may have paused plans...

Coinbase Reverses Its 2018 Testimony To Congress, Argues For One Crypto Regulator
Yesterday, Coinbase released a Digital Asset Policy Proposal that includes a vision of a regulatory environment for digital assets, including a new designated federal regulator for cryptocurrency....

Is This A Good Time To Get A Reverse Mortgage?
By Chris Farrell, Next Avenue The numbers are worrisome. The typical 54- to 64-year-old with a 401(k) or IRA owns a median portfolio worth about $135,000 and more than a quarter of workers don't...

Fannie, Freddie boost 2022 outlooks despite likely rate rise
Economists at the government-sponsored enterprises diverge on their year-over-year forecasts for industry volume, with Fannie Mae predicting a slight decrease, but Freddie Mac looking at increased...

Home listings decreased in September, causing a drop in sales
Both new listings and overall housing supply tumbled in September, which took a toll on sales. Newly listed homes declined 2.3% from August and 9% year-over-year while total for-sale properties...

Today’s refi rates move higher – October 15, 2021
Zach Wichter is a mortgage reporter at Bankrate. He previously worked on the Business desk at The New York Times where he won a Loeb Award for breaking news, and covered aviation… 4 min read Oct....