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Most commerial real estate listings for lease are in the $40's per square foot per year. The Kierland submarket is seeing a a rise in rates. In the last 3 months, the median rate for lease increased $3 per sqft per year. That's a 6% increase in rent.
Compared to the rest of the Phoenix Metropolitan Area commercial real estate market, the Kierland submarket has higher rates for rent, and you may need to pay a premium to be in this hot region.
In the last 180 days, 202 commercial real estate listings have been made available, so you'll want to check back regularly for new listings. About 1% of the available commercial real estate leases in the Kierland 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.
The standard size for office space in this area is around 1,880 sqft. Most buildings in this region are around 3 floors. Most buildings in this region were built close to 2000 and are Class A.
A large portion of this market is residential, but there's plenty of office space. Education is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Kierland folk. 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 Kierland.
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