On average, listings lease in the $20's per square foot per year. The Warehouse District submarket is seeing a decrease in rates. In the last 3 months, the median rate decreased $4 per sqft per year. That's a 12% decline in rent.
Compared to the rest of the Phoenix Metropolitan Area market, the Warehouse District region has greater rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 2 listings have been posted online, which means new listings are probably going fast. You'll want to be prepared to tour spaces as quick as possible. 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 4,460 sqft, there are still 0 listings below 2,000 sqft. Most buildings in this market are around 2 floors. Most buildings in this area were built in 1940.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Finance and insurance are the dominant industries in this region. Commute by walking is the most popular way to get to work amongst Warehouse District residents. Commuting approximately an hour a day is the norm for those who opt to reside in this part of town.