Most listings are in the $50's per square foot per year. The Downtown Tempe region is experiencing a an increase in rates. In the last 3 months, the median rate increased $29 per sqft per year. That's a 96% increase in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Tempe submarket has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 7 listings have come on the market, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 14% of the available space in the Downtown Tempe 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 available, so finding a space for a small business might be tough.
Even though the median size is 15,710 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this region are around 8 floors. Most buildings in this region were built in 1991 and are Class B.
Information is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Downtown Tempe occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.