On average, listings lease in the $30's per square foot per year. The Center City West submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $1 per sqft per year. That's a 2% increase in rent.
Compared to the rest of the Philadelphia market, the Center City West region has lower rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 146 listings have been posted online, so you'll want to check back regularly for new listings. About 5% of the available space in the Center City West are subleases, so you will probably need to sign a longer term lease with the landlord directly. 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 5,610 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are close to 27 stories. Most buildings in this market were built in 1969 and are Class A.
Manufacturing is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Center City West occupants. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.