Most listings are in the $30's per square foot per year. The Rittenhouse Square submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $32 per sqft per year.
Compared to the rest of the Philadelphia market, the Rittenhouse Square submarket has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 2 listings have come on the market, which means office 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 available, so finding a space for a small business might be tough.
Even though the median size is 2,800 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are close to 21 stories. Most buildings in this market were built in 1927 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Waste services is the dominant industry in this area. Most of the folk of Rittenhouse Square work from home. Commuting around 15 minutes a day is the norm for those who opt to reside in this part of town.