The typical asking rate per listing is in the $40's per square foot per year. The Downtown Phoenix region is experiencing a a boost in rates. In the last 3 months, the median rate rose $45 per sqft per year.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Phoenix region has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.
In the last 90 days, 8 listings have come on the market, which means leases might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 525% of the available leases in the Downtown Phoenix 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 11,530 sqft, there are still 0 office spaces 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 market is residential, but there's plenty of office_space. Waste services is the dominant industry in this region. Commute by walking is the most popular way to get to work amongst Downtown Phoenix folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.