On average, listings lease in the $40's per square foot per year. The Logan Square region is seeing a decline in rates. In the last 3 months, the median rate fell $92 per sqft per year. That's a 70% decline in rent.
Compared to the rest of the Philadelphia market, the Logan Square submarket has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 23 listings have been listed, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. 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 7,740 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are approximately 27 floors. Most buildings in this market were built in 1980 and are Class A.