On average, listings lease in the $20's per square foot per year. The Paradise Valley region is going through a decrease in rates. In the last 3 months, the median rate fell $11 per sqft per year. That's a 27% decline in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Paradise Valley region has higher rates, and you'll need to make a great offer to be in this hot region.
In the last 90 days, 60 listings have been posted online, so you'll want to check back regularly for new listings. About 70% of the office spaces in the Paradise Valley 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 on the market, so finding a space for a small business might be tough.
Even though the median size is 2,620 sqft, there are still 0 listings below 2,000 sqft. Most properties in this market are around 2 stories. Most buildings in this area were built in 1998 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by taxi is the most popular way to get to work amongst Paradise Valley occupants. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.