Landlords in New York City aren’t the only ones frustrated with Kastle Systems’ Back-to-Work Barometer, which claims to track physical office occupancy. The President/CEO of Philadelphia’s Center City business improvement district, Paul R. Levy, expressed his anger over a recent Wall Street Journal article that labeled downtown Philly as “one of the emptiest office districts in America.”
The article cited Kastle’s findings that Philadelphia office occupancy was only 40% of pre-pandemic levels, with the most recent numbers for the week ending Aug. 16 at a bleak 38.9%. Levy raised concerns about Kastle’s methodology, stating that they only count card swipes at two buildings in Philly’s 42 million square-foot office market. He also noted that none of the city’s “primary” office towers use Kastle Systems.
Similar to New York, Kastle Systems declined to disclose the specific properties it monitors.
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