The typical asking rate per listing is in the $20's per square foot per year. The Chestnut Hill region is experiencing a a boost in rates. In the last 3 months, the median rate went up $28 per sqft per year.
Compared to the rest of the Philadelphia market, the Chestnut Hill submarket has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 12 listings have been listed, which means leases might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 8% of the listings in the Chestnut Hill are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 700 sqft.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Chestnut Hill folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in Chestnut Hill.
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