On average, listings lease in the $20's per square foot per year. The Sonoran submarket is going through a decline in rates. In the last 3 months, the median rate decreased $6 per sqft per year. That's a 17% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Sonoran submarket has greater rates, and you'll need to make a great offer to be in this hot submarket.
In the last 90 days, 34 listings have come on the market, which means new availabilities are probably leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 6% of the office spaces 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 2,850 sqft, there are still 0 leases below 2,000 sqft. Most properties in this area are approximately 2 stories. Most buildings in this area were built in 2005 and are Class A.
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 folk. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.