The typical asking rate per listing is in the $30's per square foot per year. The Downtown Tempe region is experiencing a an increase in rates. In the last 3 months, the median rate went up $32 per sqft per year.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Tempe region has more expensive rates, and you'll need to pay a premium to be in this hot submarket.
In the last 90 days, 7 listings have been posted online, which means office spaces might be going fast. You'll want to be prepared to make an offer immediately. About 71% of the available leases 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 posted, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 470 sqft. Most properties in this region are close to 8 stories. Most buildings in this market were built in 1991 and are Class B.
Information is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst Downtown Tempe folk. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.