On average, listings lease in the $20's per square foot per year. The New River submarket is experiencing a a boost in rates. In the last 3 months, the median rate went up $2 per sqft per year. That's a 7% increase in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the New River region has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.
In the last 90 days, 9 listings have been listed, which means listings are probably going fast. You'll want to be prepared to make an offer immediately. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 5,400 sqft, there are still 0 new availabilities below 2,000 sqft. Most buildings in this region are close to 1 floors. Most buildings in this market were built in 2003 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Utilities is the dominant industry in this area. Commute by public transit is the most popular way to get to work amongst New River occupants. Commuting around 10 minutes a day is the norm for those who opt to reside in this part of town.