On average, listings lease in the $20's per square foot per year. The McCormick Ranch region is seeing a decline in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 5% decline in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the McCormick Ranch submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 372 listings have come on the market, so you'll want to check back regularly for new listings. About 4% of the available leases in the McCormick Ranch 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.
The standard measurement for office space in this area is around 2,200 sqft. Most properties in this region are around 2 stories. Most buildings in this market were built in 1986 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Commute by public transit is the most popular way to get to work amongst McCormick Ranch residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.
Real time and historical data on commercial real estate listings in McCormick Ranch.
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