On average, listings lease in the $20's per square foot per year. The Warehouse District region is experiencing a an increase in rates. In the last 3 months, the median rate increased $26 per sqft per year.
Compared to the rest of the Phoenix Metropolitan Area market, the Warehouse District submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 5 listings have been made available, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 40% of the available space in the Warehouse District are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
Even though the median size is 26,170 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 2 stories. Most buildings in this region were built in 1940.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this market. Commute by walking is the most popular way to get to work amongst Warehouse District occupants. Commuting close to 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 Warehouse District.
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