On average, listings lease in the $40's per square foot per year. The Waterfront submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 5% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Waterfront region has greater rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 1 listings have come on the market, which means office spaces are probably leasing quickly. You'll want to be prepared to make an offer immediately. 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 4,710 sqft, there are still 0 office spaces below 2,000 sqft. Most buildings in this region are approximately 3 stories. Most buildings in this area were built in 2006 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Most of the folk of Waterfront 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.