On average, listings lease in the $30's per square foot per year. The Center City East region is experiencing a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 4% rise in rent.
Compared to the rest of the Philadelphia market, the Center City East region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 16 listings have come on the market, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. About 6% of the office spaces in the Center City East 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 available, so finding a space for a small business might be tough.
Even though the median size is 11,000 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are around 5 floors. Most buildings in this region were built in 1924 and are Class A.