On average, listings lease in the $30's per square foot per year. The Washington Square West region is seeing a a rise in rates. In the last 3 months, the median rate increased $38 per sqft per year.
Compared to the rest of the Philadelphia market, the Washington Square West region has greater rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 2 listings have come on the market, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 150% of the available leases in the Washington Square West are subleases, so you might be able to snag a great spot on a short term. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 3,140 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are close to 20 stories. Most buildings in this market were built in 1929 and are Class B.