The typical asking rate per listing is in the $20's per square foot per year. The Penn American District submarket is seeing a a rise in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 11% rise in rent.
In the last 90 days, 5 listings have been made available, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. 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 15,950 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are close to 14 floors. Most buildings in this market were built in 1984 and are Class B.
This market is fairly equally mixed residential and commercial. Finance and insurance are the dominant industries in this region. Most of the occupants 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.