Sonoran Office Space

Sonoran

Office Space Market Report

Number of Listings (last 90 days)
35
Median Rate ($/sqft/yr)
$38
Median Size (sqft)
6,820
As of: December 5, 2016

Sonoran Rates

Most listings are in the $30's per square foot per year. The Sonoran submarket is going through a a boost in rates. In the last 3 months, the median rate rose $7 per sqft per year. That's a 24% increase in rent.

Compared to the rest of the Phoenix Metropolitan Area market, the Sonoran submarket has higher rates, and you'll have to negotiate above asking rent to be in this hot submarket.

Sonoran Listing Supply

In the last 90 days, 35 listings have been made available, which means leases might be leasing quickly. You'll want to be prepared to make an offer immediately. About 3% of the available space in the Sonoran 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 available, so finding a space for a small business might be tough.

Even though the median size is 6,820 sqft, there are still 0 office spaces below 2,000 sqft. Most properties in this area are around 2 stories. Most buildings in this market were built in 2006 and are Class A.

Sonoran Community

A large portion of this region is residential, but there's plenty of office_space. Real estate is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Sonoran residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Sonoran.
Market Report

Market Data

Real time and historical data on commercial real estate listings in Sonoran.
Research