Sonoran Office Space

Sonoran

Office Space Market Report

Number of Listings (last 90 days)
34
Median Rate ($/sqft/yr)
$33
Median Size (sqft)
5,960
As of: August 19, 2017

Sonoran Rates

On average, listings lease in the $30's per square foot per year. The Sonoran region is experiencing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 7% decline in rent.

Compared to the rest of the Phoenix Metropolitan Area market, the Sonoran submarket has greater rates, and you'll need to pay a premium to be in this hot region.

Sonoran Listing Supply

In the last 90 days, 34 listings have been posted online, which means new listings most likley are leasing quickly. You'll want to be prepared to make an offer immediately. About 59% of the available leases in the Sonoran are subleases, so you might be able to find a shorter term or below market rent. 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 5,960 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 2 stories. Most buildings in this area were built in 2005 and are Class A.

Sonoran Community

A large portion of this area 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