The typical asking rate per listing is in the $30's per square foot per year. The Center City region is experiencing a a boost in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 7% increase in rent.
Compared to the rest of the Philadelphia market, the Center City region has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 219 listings have been posted online, so you'll want to check back regularly for new listings. About 43% of the available space in the Center City are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 7,500 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this area are around 17 stories. Most buildings in this market were built in 1931 and are Class A.