On average, listings lease in the $30's per square foot per year. The Center City submarket is experiencing a decline in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 7% decline in rent.
Compared to the rest of the Philadelphia market, the Center City region has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 219 listings have been posted online, so you'll want to check back regularly for new listings. About 26% of the listings in the Center City are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 7,730 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 17 floors. Most buildings in this region were built in 1931 and are Class A.