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Most commerial real estate listings for lease are in the $30's per square foot per year. The Downtown Phoenix region is going through a a boost in rates. In the last 3 months, the median rate for lease increased $13 per sqft per year. That's a 48% increase in rent.
Compared to the rest of the Phoenix Metropolitan Area commercial real estate market, the Downtown Phoenix region has more expensive rates for rent, and you may need to make a great offer to be in this hot region.
In the last 90 days, 372 commercial real estate listings have been listed, so you'll want to check back regularly for new listings. About 1% of the commercial real estate 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 available, so finding a space for a small business might be tough.
The standard size for office space in this area is around 600 sqft. Most buildings in this region are close to 3 floors. Most buildings in this region were built around 1969 and are Class B.
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.
Real time and historical data on commercial real estate listings in Downtown Phoenix.
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