Vacant retail spaces in Center City have declined in recent months, but occupancy still remains below the pre-pandemic peak in 2019, writes Ariana Perez-Castells for The Philadelphia Inquirer.
According to a new survey released by Center City District, 84.2 percent of retail spaces in Center City are currently filled, an improvement from six months ago when the rate was 82.6 percent. The survey also found that the number of occupied storefronts has increased by 32.
“Occupancy held steady or improved across every major east-west corridor in the district,” said Prema Katari Gupta, CCD president and CEO.
The retail market “is diversifying and strengthening, supported by a growing residential base and ahead of an extraordinary calendar of major events ahead for Philadelphia,” she added.
While this increase represents the highest occupancy in the last two years, it still trails the 89 percent occupancy that was seen in Center City in 2019. During the pandemic, occupancy fell to around 55 percent.
Walnut Street has the highest occupancy at 87.5 percent, followed by Sansom Street at 85.1 percent and Chestnut Street at 80 percent, with Market Street lowest at 71.6 percent among the four streets evaluated.
Read more about Center City’s progress in its retail rebound from the pandemic in The Philadelphia Inquirer.
Editor’s Note: This post was originally published on PHILADELPHIA Today in April 2026.
