Most listings are in the $30's per square foot per year. The Downtown Tempe submarket is going through a decrease in rates. In the last 3 months, the median rate decreased $20 per sqft per year. That's a 38% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Tempe region has more expensive rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 19 listings have been made available, which means spaces might be leasing quickly. You'll want to be prepared to make an offer immediately. About 11% of the listings in the Downtown Tempe 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.
The standard measurement for office space in this area is around 1,460 sqft. Most buildings in this area are approximately 8 floors. Most buildings in this market were built in 1993 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 residents. Commuting approximately 30 minutes a day is the norm for those who opt to reside in this part of town.