The typical asking rate per listing is in the $30's per square foot per year. The Center City East submarket is going through a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% rise in rent.
Compared to the rest of the Philadelphia market, the Center City East region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 14 listings have been posted online, which means new availabilities are probably 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.
Even though the median size is 6,700 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this market are approximately 5 floors. Most buildings in this region were built in 1924 and are Class A.