The typical asking rate per listing is in the $50's per square foot per year. The Fashion Square region is going through a a boost in rates. In the last 3 months, the median rate increased $20 per sqft per year. That's a 50% rise in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Fashion Square region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 2 listings have come on the market, which means listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 50% of the available leases in the Fashion Square are subleases, so you might be able to snag a great spot on a short term. 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 11,750 sqft, there are still 0 spaces below 2,000 sqft. Most properties in this region are close to 5 floors. Most buildings in this region were built in 1987 and are Class B.
This market is fairly equally mixed residential and commercial. Utilities is the dominant industry in this market. Most of the residents of Fashion Square work from home. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.