On average, listings lease in the $20's per square foot per year. The Downtown Phoenix region is going through a decrease in rates. In the last 3 months, the median rate decreased $16 per sqft per year. That's a 35% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Phoenix region has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 372 listings have been posted online, so you'll want to check back regularly for new listings. About 3% of the listings in the Downtown Phoenix 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 6,690 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this area are close to 14 stories. Most buildings in this region were built in 1972 and are Class A.
This region is fairly equally mixed residential and commercial. Waste services is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Downtown Phoenix occupants. 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 Downtown Phoenix.
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