On average, listings lease in the $30's per square foot per year. The Center City West submarket is going through a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 4% decline in rent.
Compared to the rest of the Philadelphia market, the Center City West submarket has smaller rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 154 listings have been listed, so you'll want to check back regularly for new listings. About 16% of the listings in the Center City West are subleases, so you might be able to find a shorter term or below market rent. 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 7,490 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are around 23 stories. Most buildings in this market were built in 1970 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 folk. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.