On average, listings lease in the $20's per square foot per year. The Penn American District region is going through a a rise in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 3% increase in rent.
In the last 90 days, 45 listings have come on the market, so you'll want to check back regularly for new listings. About 9% of the available space in the Penn American District are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,100 sqft. Most buildings in this area are around 14 floors. Most buildings in this market were built in 1984 and are Class B.
Finance and insurance are the dominant industries in this market. Most of the residents of Penn American District work from home. 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 Penn American District.
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