Audacy is scaling back its presence at its Philadelphia corporate headquarters, splitting up space at its 2400 Market Street offices for subleasing. The broadcaster relocated to the building in 2019, moving about six miles from its past base in Bala Cynwyd.
A previous SEC filing disclosed that Audacy’s principal executive office occupies 67,031 square feet on the building’s fourth floor, with about half dedicated to executive offices. A separate commercial listing now advertises 26,457 square feet of office space in the same building, with the same lease expiration date of July 31, 2034.
The new arrangement will not affect Audacy’s Philadelphia stations or studio space, but will pare down on office space, reflecting a broader recalibration of executive needs.
An Audacy spokesperson told Radio Ink, “Philadelphia remains an important part of Audacy, and these changes align our office needs with teams on hybrid work schedules.” Several of Audacy’s top executives are now based closer to New York City, reducing the demand for large-scale corporate office space in Philadelphia.
The building, situated on the Schuylkill River in downtown Philadelphia, is owned by PMC Property Group in partnership with The Lubert-Adler Real Estate Funds. It also houses Aramark’s global headquarters.
A rental price for the available space has not been publicly disclosed.
