On average, listings lease in the $20's per square foot per year. The Penn American District region is seeing a a boost in rates. In the last 3 months, the median rate went up $20 per sqft per year.
In the last 90 days, 5 listings have been made available, which means spaces might be going fast. You'll want to be prepared to tour spaces as quick as possible. About 120% of the available space in the Penn American District 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,160 sqft. Most properties in this region are close to 14 floors. Most buildings in this region were built in 1984 and are Class B.
This area is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this market. Most of the residents of Penn American District work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.