On average, listings lease in the $30's per square foot per year. The Encanto submarket is going through a an increase in rates. In the last 3 months, the median rate increased $4 per sqft per year. That's a 14% increase in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Encanto submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 119 listings have been made available, so you'll want to check back regularly for new listings. About 2% of the available space in the Encanto are subleases, so you will probably have to focus your search on direct office leases. 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 3,060 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are approximately 3 floors. Most buildings in this area were built in 1980 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Information is the dominant industry in this market. Commute by motorcycle is the most popular way to get to work amongst Encanto folk. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.