On average, listings lease in the $30's per square foot per year. The Center City submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decrease in rent.
Compared to the rest of the Philadelphia market, the Center City region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 213 listings have been listed, so you'll want to check back regularly for new listings. About 7% of the office spaces in the Center City are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 5,590 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are around 20 stories. Most buildings in this market were built in 1931 and are Class A.