On average, listings lease in the $10's per square foot per year. The Paradise Valley submarket is going through a decline in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 18% decrease in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Paradise Valley region has smaller rates, so you should have no trouble finding a great deal in this undervalued submarket.
In the last 90 days, 60 listings have been listed, so you'll want to check back regularly for new listings. About 3% of the available space in the Paradise Valley are subleases, so you will probably have to consider a longer term lease. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
The standard measurement for office space in this area is around 2,430 sqft. Most properties in this market are around 2 floors. Most buildings in this market were built in 2000 and are Class B.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Arts, entertainment, and restaurants are the dominant industries in this market. Commute by taxi is the most popular way to get to work amongst Paradise Valley occupants. Commuting close to 10 minutes a day is the norm for those who opt to reside in this part of town.