The typical asking rate per listing is in the $40's per square foot per year. The Downtown Phoenix submarket is experiencing a an increase in rates. In the last 3 months, the median rate rose $2 per sqft per year. That's a 5% increase in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Phoenix submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 8 listings have been made available, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. 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 4,200 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this market are approximately 18 stories. Most buildings in this area were built in 1965 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Waste services is the dominant industry in this area. Commute by walking is the most popular way to get to work amongst Downtown Phoenix residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.