The typical asking rate per listing is in the $10's per square foot per year. The Central City region is seeing a decline in rates. In the last 3 months, the median rate decreased $25 per sqft per year. That's a 57% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Central City region has lower rates, so you should have no trouble finding a great deal in this discounted region.
In the last 90 days, 707 listings have been listed, so you'll want to check back regularly for new listings. About 6% of the available leases in the Central City 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 on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,440 sqft. Most properties in this market are approximately 2 floors. 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 approximately 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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