The typical asking rate per listing is in the $20's per square foot per year. The Avenue of the Arts South submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $8 per sqft per year. That's a 35% rise in rent.
Compared to the rest of the Philadelphia market, the Avenue of the Arts South submarket has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 9 listings have come on the market, which means listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,820 sqft. Most buildings in this area are close to 17 stories. Most buildings in this region were built in 1914 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this region. Commute by bike is the most popular way to get to work amongst Avenue of the Arts South residents. Commuting approximately an hour and a half a day is the norm for those who opt to reside in this part of town.