On average, listings lease in the $30's per square foot per year. The West Philadelphia submarket is seeing a an increase in rates. In the last 3 months, the median rate went up $7 per sqft per year. That's a 28% rise in rent.
Compared to the rest of the Philadelphia market, the West Philadelphia submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 16 listings have come on the market, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 31% of the listings in the West Philadelphia 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 posted, so finding a space for a small business might be tough.
Even though the median size is 6,000 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are around 6 stories. Most buildings in this region were built in 1975 and are Class B.