Most listings are in the $30's per square foot per year. The Downtown Tempe submarket is seeing a decrease in rates. In the last 3 months, the median rate fell $4 per sqft per year. That's a 11% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Tempe submarket has higher rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 19 listings have been made available, which means listings might be leasing quickly. You'll want to be prepared to make an offer immediately. About 11% of the office spaces in the Downtown Tempe are subleases, so you might be able to snag a great spot on a short term. 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 1,460 sqft. Most properties in this market are around 8 stories. Most buildings in this market were built in 1993 and are Class B.
Information is the dominant industry in this market. Commute by public transit is the most popular way to get to work amongst Downtown Tempe occupants. Commuting close to 30 minutes a day is the norm for those who opt to reside in this part of town.