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Strong market fundamentals and competition for quality space resulted in heightened investment activity. Investments continue to see strong transaction volume with over 3.5 million sq. ft. changing hands.
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New development and redevelopment of existing office space is becoming prevalent in the suburban submarkets. |
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With the lack of large blocks of Class A office space, activity in the Downtown Philadelphia submarkets can be classified as a game of "musical chairs," with tenants moving back and forth between spaces. |
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