On average, listings lease in the $20's per square foot per year. The McCormick Ranch region is experiencing a an increase in rates. In the last 3 months, the median rate went up $0 per sqft per year. That's a 1% rise in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the McCormick Ranch submarket has higher rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 19 listings have been made available, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. About 21% of the available space in the McCormick Ranch are subleases, so you might be able to sign a shorter term by taking over a previous lease. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 1,900 sqft. Most properties in this region are around 2 stories. Most buildings in this area were built in 1986 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this area. Commute by public transit is the most popular way to get to work amongst McCormick Ranch residents. Commuting between 20 and 25 minutes a day is the norm for those who opt to reside in this part of town.