The typical asking rate per listing is in the $30's per square foot per year. The Bala Cynwyd submarket is experiencing a an increase in rates. In the last 3 months, the median rate increased $38 per sqft per year.
Compared to the rest of the Philadelphia market, the Bala Cynwyd region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 12 listings have been posted online, which means spaces are probably going fast. You'll want to be prepared to make an offer immediately. About 8% of the available space in the Bala Cynwyd are subleases, so you will probably have to focus your search on direct office leases. 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 10,150 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are approximately 3 stories. Most buildings in this area 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 residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.