The typical asking rate per listing is in the $20's per square foot per year. The Downtown Phoenix region is going through a decrease in rates. In the last 3 months, the median rate decreased $16 per sqft per year. That's a 39% decline in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Downtown Phoenix region has lower rates, so you should have no trouble finding a great deal in this undervalued region.
In the last 90 days, 9 listings have come on the market, which means spaces most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 44% of the office spaces in the Downtown Phoenix 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 posted, so finding a space for a small business might be tough.
Even though the median size is 6,790 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this area are close to 18 floors. Most buildings in this area were built in 1965 and are Class A.
A large portion of this area is residential, but there's plenty of office_space. Waste services is the dominant industry in this market. Commute by walking is the most popular way to get to work amongst Downtown Phoenix residents. Commuting between 30 and 45 minutes a day is the norm for those who opt to reside in this part of town.