As of December 31, 2025, we owned 60 properties that contain an aggregate of approximately 11.3 million net rentable square feet and consist of 56 office properties and four mixed-use properties (collectively, the “Core Properties”).
−Removed: We also own one recently completed not yet stabilized property (collectively, the “Properties”).
+Added: We also own two recently completed not yet stabilized properties and three properties in development/redevelopment (collectively, the “Properties”).
The properties are located in or near Philadelphia, Pennsylvania;
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and Wilmington, Delaware.
−Removed: As of December 31, 2024, the properties were approximately 87.8% occupied.
−Removed: As of December 31, 2024, we also owned economic interests in ten unconsolidated real estate ventures.
−Removed: We refer to these ventures as “Commerce Square Venture,” “Mid-Atlantic Office Venture,” “MAP Venture,” “Cira Square,” “KB JV,” “One Uptown – Multifamily,” “One Uptown – Office,” “JBG,” “3025 JFK Venture” and “3151 Market Street Venture.” See Note 4 “Investment in Unconsolidated Real Estate Ventures,” to our Consolidated Financial Statements for further information.
+Added: As of December 31, 2025, the Core Properties were approximately 88.3% occupied.
+Added: As of December 31, 2025, we also owned economic interests in seven unconsolidated real estate ventures.
+Added: We refer to these ventures as “Commerce Square Venture,” “Mid-Atlantic Office Venture,” “Cira Square,” “One Uptown – Multifamily,” “One Uptown – Office” and “JBG.” See Note 4 “Investment in Unconsolidated Real Estate Ventures,” to our Consolidated Financial Statements for further information.
Property Statistics
The following table sets forth information with respect to our Core Properties at December 31, 2025:
−Removed: Net Rentable Square Feet
+Added: Net Rentable Square Feet % Occupied
PHILADELPHIA CENTRAL BUSINESS DISTRICT SEGMENT
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Four Points Center 3 164,818 100.0 %
−Removed: Four Barton Skyway 222,580 94.4 %
Four Points Centre 192,396 20.7 %
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River Place - Bldg 7 69,119 84.9 %
−Removed: Quarry Lake II 120,559 36.0 %
AUSTIN SEGMENT SUBTOTAL
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920 North King Street 203,328 100.0 %
−Removed: 300 Delaware Avenue 298,071 56.6 %
OTHER SEGMENT SUBTOTAL
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$ 20,825 5.2 %
−Removed: Spark Therapeutics 18,711 4.4 %
+Added: Spark Therapeutics, Inc.
Comcast Corporation 12,687 3.2 %
FMC Corporation 12,149 3.0 %
−Removed: Troutman Pepper Hamilton Sanders LLP 10,473 2.5 %
+Added: Troutman Pepper Locke LLP 10,722 2.7 %
Lincoln National Management Co.
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The Trustees of the University of Pennsylvania 8,139 2.0 %
−Removed: CSL Behrinig, LLC 7,605 1.8 %
+Added: CSL Behring, LLC 7,841 2.0 %
T-Mobile Northeast LLC 7,447 1.9 %
4 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.