The typical asking rate per listing is in the $20's per square foot per year. The Chestnut Hills submarket is going through a decline in rates. In the last 3 months, the median rate decreased $24 per sqft per year. That's a 48% decrease in rent.
In the last 90 days, 1 listings have been posted online, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 200% of the listings in the Chestnut Hills 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 3,360 sqft, there are still 0 new listings below 2,000 sqft. Most buildings in this market are approximately 2 floors. Most buildings in this area were built in 1976 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this area. Commute by walking is the most popular way to get to work amongst Chestnut Hills folk. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.