The typical asking rate per listing is 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 region has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 154 listings have been posted online, so you'll want to check back regularly for new listings. About 18% of the available leases in the Center City West are subleases, so you might be able to sign a shorter term by taking over a previous lease. 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 5,730 sqft, there are still 0 listings below 2,000 sqft. Most properties in this region are around 23 floors. Most buildings in this market were built in 1970 and are Class A.
Manufacturing is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Center City West residents. Commuting more than an hour and a half a day is the norm for those who opt to reside in this part of town.