Downtown Phoenix Commercial Real Estate

435 S. 3rd Avenue - Space Downtown Phoenix, Phoenix, AZ  
Sep 01
7,510
sqft
Sublease Industrial Office

Downtown Phoenix

Market Report

Number of Listings
Posted in the last 90 days
16
Median Rate ($/sqft/yr)
$29
Median Size (sqft)
6,690

Downtown Phoenix Rates

Most listings are 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 submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Downtown Phoenix Listing Supply

In the last 90 days, 372 listings have been made available, so you'll want to check back regularly for new listings. About 4% of the available space in the Downtown Phoenix 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 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 listings below 2,000 sqft. Most buildings in this area are around 14 floors. Most buildings in this region were built in 1972 and are Class A.

Downtown Phoenix Community

This area is fairly equally mixed residential and commercial. Waste services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Downtown Phoenix residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Data

Real time and historical data on commercial real estate listings in Downtown Phoenix.
Research