On average, listings lease in the $30's per square foot per year. The South Philadelphia East submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $18 per sqft per year. That's a 90% rise in rent.
Compared to the rest of the Philadelphia market, the South Philadelphia East region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 3 listings have been posted online, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet posted, so finding a space for a small business might be tough.
Even though the median size is 5,810 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are around 28 stories. Most buildings in this market were built in 1930 and are Class B.