Most listings are in the $30's per square foot per year. The Center City West region is experiencing a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decline in rent.
Compared to the rest of the Philadelphia market, the Center City West submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 154 listings have been listed, 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 available, so finding a space for a small business might be tough.
Even though the median size is 6,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are around 23 stories. Most buildings in this market 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 residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.