What to Expect When Looking for Office Space in Philadelphia

If you're in or are thinking of moving your business to the Philadelphia area, one of the first things you'll want to know is what the market is like for office space. There are several options available, and we'll go over some of the most popular or notable so you can get some ideas of submarkets that are worth checking out. First, an overview of the city and its environs:

Philadelphia has around 1.5 million residents, giving you access to plenty of labor. It is also home to the Philadelphia Stock Exchange, making it an important economic hub for the United States. The city is home to some of the country's most famous museums, and offers plenty of cultural activities. Sports are also big here, and the city has a major league team for each of the four most popular American games.

Despite these factors, the average income of those who live in the city is just $41,449, which is substantially below the state average. This is because those with more money usually live in the suburbs and commute in for work. The influx of money from the suburbs allows for good maintenance of city-based attractions like the museums and stadiums.

Notably, Philadelphia is home to multiple colleges that draw large amounts of international students. These students often look for work in the area after graduating, so when you move here, you have access to many freshly-educated people for your operations. This helps your company stay ahead in competitive markets. It also ensures that Philadelphia will become more and more diverse as time goes on. Retailers are always helped by the presence of plenty of college students too, so this is a great place to look for commercial retail space as well as office locations.

Both new development and improvement of older areas are currently in progress. This is rejuvenating the area and providing new opportunities for leasing. New projects are more likely to be low and spread out, while the older sections of town have plenty of skyscraper space waiting for you.

Overall, Philadelphia is a great place to open an office or other business location. It offers plenty of available workers, customers, and activities for you and your staff to enjoy during the off-hours. To help you get started in your search for office space, we offer this information about the leasing market here

What Makes Philadelphia A Top Spot For Office Rentals 

A Budding Opportunity For Startups 

Philadelphia is a great place for entrepreneurs, solopreneurs, and startups because of its potential to grow economically in the upcoming years. The increase in the young adult population is considered a positive step in the city's business growth. Startups have a chance to successfully participate in a great business economy that's showing promising potential for growth. 

Excellent Consumer Base

The people that are going to buy your goods, services, or follow your brand is counterproductive to your office space. Philadelphia is strategically located between Washington D.C. and New York City. As many economies continue to recover from the 2008 recession, Philly is on the verge of new infrastructure, IT, assisted health, startups, and growing businesses. 

All-purpose Tax Benefits

A business tax friendly community is always a great place for your office space. There are a number of tax strategies and incentives created by the local government that makes Philadelphia a top business community. The business tax structure is lower in Philadelphia than in other major cities. They're one of the few communities encouraging businesses to invest in neighborhoods, hire more staff, etc. to take advantage of tax incentives, which is also good for businesses. 

Highly Educated Skilled Workforce 

There are 98 colleges and universities that serve as a training, leadership, and work hub for Philadelphia. The Office of Workforce Development is fueling Philadelphia's talent pool. Their city has been leading the way in many diversified networks including manufacturing, life sciences, healthcare, logistics, professional services, hospitality, and a growing startup community. 

A Vibrant City 

Philadelphia is a modernized city that has held on to its history. As a vibrant community, they pride themselves in being marketable and a culturally enriched business community. Philadelphia is a great city to start a business. In fact, it's one of the most friendly business communities in the United States. It's a great opportunity for an office rental. 

Business Assistance 

Philadelphia is known for their business financing programs and technology assistance offered through the Department of Community and Economic Development (DCED). The extra support is used to strengthen business ideas and progress through economic development. The DCED of Philadelphia is investing in big business ideas, neighborhoods, and the community. 

Great Surrounding Business Communities

Pittsburgh is one of the largest and most popular city's next to Philadelphia. Washington D.C. and New York are just a short commute away.

Women's Business Friendly Community 

According to In Her Sight, "Philadelphia is a great business hub for female entrepreneurs." Although they're a diverse community, now is a great time for women to dive into business or find a spot for their new office. From major Tech companies to Palo Alto businesses, women can work or start a business in almost any field. These statistics come from the women that are currently working in Philadelphia. 

Sophisticated Office Space

Whether you're looking for an office downtown or plush office space in Philadelphia, you'll find just what you're looking for in office rentals. You have the opportunity for great office space that demands your creativity. Plus, there are several activities that makes Philadelphia a great place to work and play. They're known for their activities and fine restaurants. Enjoy a rich scenery on your way to the office or indulge in great food and activities after work. Experience a corporate office or office space that can grow with your business. 

As one of the largest city in the U.S., Philadelphia is a great opportunity for business. There are plenty of companies to keep you competitive in any field, but to also help you grow as a business too. The rich diversity gives you the option of enjoying a huge list of customers. Many people enjoy the being a part of a large city and experiencing the best of what the city has to offer. In fact, Philadelphia is already home to several big businesses including Comcast, Aramark, and Crown Holding. They're in a position to welcome the next business venture with plenty room for growth. 

If you're looking for suitable office space, there's something for every business model. With a population of 1.5 million people, your business has an opportunity to make a name for itself. You have the opportunity to introduce your business to eager consumers. 

Most importantly, there are many incentives to start your business in Philadelphia making it a great place for your new office. There are also several organizations that are willing to work with you to help you get your business off the ground. You'll be glad you chose an affordable luxury office rental in Philadelphia.  

Why Chose OfficeFinder To Help You Find Your New Office

At OfficeFinder LLC, we're committed to matching great people with quality office space. We help our clients find an office and avoid a costly mistake. OfficeFinder LLC understands how a costly mistake in an office rental can impact your business. Our professional office rental services offers rental and leasing programs.

Take a moment to contact us about your new office rental or lease today! 

The easiest way to acquire the best office space in Philadelphia and the surrounding areas for your company and meet your budget is to work with an expert in leasing. Contact us to get the space you're looking for at good prices and without the ususal hassles.