On average, listings lease in the $30's per square foot per year. The Center City East submarket is going through a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the Philadelphia market, the Center City East region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 14 listings have been made available, which means new availabilities most likley are going fast. You'll want to be prepared to make an offer immediately. About 14% of the available leases in the Center City East 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 4,060 sqft, there are still 0 listings below 2,000 sqft. Most properties in this area are around 5 floors. Most buildings in this region were built in 1924 and are Class A.