On average, listings lease in the $30's per square foot per year. The Resort Corridor submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $11 per sqft per year. That's a 25% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Resort Corridor region has higher rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 210 listings have been posted online, so you'll want to check back regularly for new listings. About 1% of the available space in the Resort Corridor 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 posted, so finding a space for a small business might be tough.
Even though the median size is 4,380 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 3 stories. Most buildings in this area were built in 1987 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Most of the folk of Resort Corridor work from home. Commuting between 30 and 45 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 Resort Corridor.
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