On average, listings lease in the $30's per square foot per year. The Center City West region is going through a an increase in rates. In the last 3 months, the median rate increased $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the Philadelphia market, the Center City West submarket has smaller rates, so you should have no trouble finding a great deal in this discounted submarket.
In the last 90 days, 146 listings have come on the market, so you'll want to check back regularly for new listings. About 5% of the listings in the Center City West are subleases, so you will probably have to focus your search on direct office leases. 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 5,590 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are approximately 27 floors. Most buildings in this area were built in 1969 and are Class A.
Manufacturing is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Center City West occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.