On average, listings lease in the $20's per square foot per year. The Central City region is experiencing a decline in rates. In the last 3 months, the median rate fell $18 per sqft per year. That's a 41% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Central City submarket has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 707 listings have been made available, so you'll want to check back regularly for new listings. About 5% of the available leases in the Central City are subleases, so you will probably need to consider the implications of signing a direct lease with the building. 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 4,040 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 2 stories. Most buildings in this market were built in 1972 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Professional services is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Central City occupants. Commuting close to an hour 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 Central City.
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