On average, listings lease in the $30's per square foot per year. The Center City West region is seeing a an increase in rates. In the last 3 months, the median rate rose $35 per sqft per year.
Compared to the rest of the Philadelphia market, the Center City West submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 154 listings have been made available, so you'll want to check back regularly for new listings. About 18% of the office spaces in the Center City West are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 6,500 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this area are approximately 23 stories. Most buildings in this market were built in 1969 and are Class A.
Manufacturing is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Center City West residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.