On average, listings lease in the $40's per square foot per year. The Bala Cynwyd region is seeing a an increase in rates. In the last 3 months, the median rate went up $12 per sqft per year. That's a 35% rise in rent.
Compared to the rest of the Philadelphia market, the Bala Cynwyd region has greater rates, and you'll have to negotiate above asking rent to be in this hot region.
In the last 90 days, 8 listings have come on the market, which means new listings most likley are going fast. You'll want to be prepared to make an offer immediately. 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 2,650 sqft, there are still 0 spaces below 2,000 sqft. Most buildings in this region are approximately 6 floors. Most buildings in this market were built in 1981 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Health care is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Bala Cynwyd occupants. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.