The typical asking rate per listing is in the $10's per square foot per year. The Wellington Place submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $13 per sqft per year. That's a 42% decline in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Wellington Place region has smaller rates, so you should have no trouble finding a great deal in this depreciated region.
In the last 90 days, 122 listings have been posted online, so you'll want to check back regularly for new listings. About 1% of the available space in the Wellington Place 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.
The standard measurement for office space in this area is around 1,200 sqft. Most buildings in this market are approximately 15 stories. Most buildings in this area were built in 1985 and are Class B.
Health care is the dominant industry in this market. Commute by car is the most popular way to get to work amongst Wellington Place occupants. Commuting approximately 30 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 Wellington Place.
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