Sonoran Office Space

Sonoran

Office Space Market Report

Number of Listings (last 90 days)
34
Median Rate ($/sqft/yr)
$36
Median Size (sqft)
6,180
As of: June 26, 2017

Sonoran Rates

The typical asking rate per listing is 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 went up $36 per sqft per year.

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 region.

Sonoran Listing Supply

In the last 90 days, 34 listings have come on the market, which means listings might be leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 38% of the listings in the Sonoran 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.

Even though the median size is 6,180 sqft, there are still 0 new listings below 2,000 sqft. Most properties in this region are around 2 floors. Most buildings in this market were built in 2005 and are Class A.

Sonoran Community

A large portion of this market is residential, but there's plenty of office_space. Real estate is the dominant industry in this region. Commute by public transit is the most popular way to get to work amongst Sonoran occupants. 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