On average, listings lease in the $30's per square foot per year. The Grove at Black Canyon region is seeing a a rise in rates. In the last 3 months, the median rate increased $5 per sqft per year. That's a 21% rise in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Grove at Black Canyon submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 11 listings have been made available, which means leases are probably going fast. You'll want to be prepared to tour spaces as quick as possible. About 36% of the available leases in the Grove at Black Canyon 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 posted, so finding a space for a small business might be tough.
Even though the median size is 14,730 sqft, there are still 0 leases below 2,000 sqft. Most buildings in this market are around 4 stories. Most buildings in this region were built in 1998 and are Class A.
This region is fairly equally mixed residential and commercial. Professional services is the dominant industry in this area. Commute by car is the most popular way to get to work amongst Grove at Black Canyon folk. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.